When it comes to your business, you can’t afford any wrong moves. Compare commercial real estate agents First National, LJ Hooker, Century 21 and Ray White with Canstar Blue’s 2017 review of real estate agents for small business.
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* Overall satisfaction is an individual rating and not a combined total of all ratings. Brands with equal overall satisfaction ratings are listed in alphabetical order.
Canstar Blue research finalised in July 2017 and published in September 2017.
Small business is all about making the right moves. Our research has found First National Real Estate is the highest rated real estate agent for small business purposes in 2017. It rated five stars in all research categories, including property management and leasing services.
First National Real Estate tops business ratings
If a small business makes a wrong move, it could be disastrous. This is true on so many levels, from recruitment to customer service and trading agreements. However, it is perhaps most true with regards to location. If a business maintains a physical presence, its location is hugely important, especially if it’s heavily reliant on customer footfall. Office or storefront location is one of the biggest and most costly decisions a business can make. Therefore, any small business that needs to make the right moves in terms of its location would do well to seek the advice of a local real estate agent. But which agency is best-suited to small business needs?
Each year, Canstar Blue conducts a review of real estate agents to see which are rated highest for general home services and small business purposes. The ratings feature the biggest names in the industry, with thousands of consumers and hundreds of small business owners surveyed on their experiences dealing with Australia’s property experts. First National Real Estate holds the title as the top-rated real estate agent for home services and as you can see from the table above, it has also now topped our review of real estate agents for small business in 2017. That’s some going!
Leading the way from Century 21, LJ Hooker and Ray White, First National scored five stars in all research categories this year – communication, advice, leasing services, property management, property sales, value for money and overall satisfaction. No other company achieved top marks in any particular area.
A real estate agent should be able to provide business customers with the local knowledge and guidance they need to make well-informed decisions about their location. If you don’t think the real estate agent your business uses is up to scratch, we hope these ratings prove helpful. This year’s survey identified the following drivers of satisfaction from business customers:
Communications from the agent: 26%
Knowledge and advice provided by the agent: 22%
Value for money: 21%
Leasing services: 17%
Property management services: 9%
Property sales: 6%
Of course, businesses will employ the services of real estate agents for different purposes, but this review provides a helpful, high-level insight into what you could expect from the real estate agents compared. And if our survey this year is an indicator, it seems many small businesses are in need of better advice from their estate agents. It found:
The cost of renting a property is the greatest expense to 56% of small businesses
15% of small businesses describe their property as not adequate for their business
41% of small businesses are considering moving to another property in the near future
The small businesses surveyed spend an average of $3,216 a month on renting their property. If your business is struggling with the cost of renting, it might be time to talk to your agent about your options. If your agent isn’t up to scratch, maybe it’s time to talk to a new one.
Canstar Blue commissioned Colmar Brunton to survey 1,600 small business owners or decision makers (i.e. the main decision maker for a small business) across a range of categories to measure and track customer satisfaction. The outcomes reported are the results from customers within the survey group who have used a real estate agent for business purposes in the last three years – in this case, 489 people.
Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey. The ratings table is first sorted by star ratings and then alphabetically. A rated brand may receive a ‘N/A’ (Not Applicable) rating if it does not receive the minimum number of responses for that criteria.
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