"The hospitality industry is dominated by brands providing yesterday's answers for yesterday's travelers""? Horst Schulze

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Could we substitute the word real estate for hospitality?

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I am currently doing some consulting work in conjunction with the West Paces Hotel Group."? This company was founded by a group of former Ritz Carlton executives including the legendary former owner and leader of Ritz Carlton, Horst Schulze and Leonardo Inghilleri."? They have a passion for service that is unparalleled in any industry."? They are two time Malcolm Baldrige winners and they are launching two new ultra luxury brands, Capella and Solis. It is their belief (and they have proof) that people will pay a premium for exceptional service. Their focus is on the service not the profits, but their margins happen to be the highest in the industry.

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Consider your last exceptional customer service experience."? It may have been at a restaurant, a car dealer, or retail store. It is sad how few great experiences we have. "?Many top producing real estate agents and companies talk about their superior customer service but is it valid?"? As consumers continue to want more for less, is there a niche for a superior customer service experience in real estate?"? Customer service as West Paces defines it is: a defect free product (or service), delivered on time, by a caring individual. It sounds simple enough, but how few companies in any industry really deliver it.

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There are a few simple rules that West Paces teach to all of their employees for personal interactions with clients that can help all of us. Always provide a warm and sincere greeting, followed by an offer of assistance, compliance with the request, offer of additional assistance, and a fond farewell."? It is up to the company to define the standards and the language appropriate to the interaction. Once established, each interaction is handled this way. This consistency separates the greats from the rest.

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Customer service is truly becoming a lost art form."? At the Ritz Carlton this management team proved that you could take industry average workers with average pay and make them superior brand ambassadors."? It is not easy but it can be done."? Every initiative in the customer improvement area must have the initial training and the sustainability of daily reinforcement for the individuals for it to be successful."?

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I believe there will have to be differentiation in customer service in the real estate industry, which includes superior knowledge, relationship skills, and technology tools."? If companies and individuals can not provide a superior product to the current offering than gross commissions will continue to erode, clients will see little value in one company over another, and the industry is ripe for more disintermediation, and new competitors.

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What do you think- Is the real estate industry dominated by brands providing yesterday's answers for yesterday's clients?