What is Customer Empowerment & Why is it Important in Real Estate?

Posted On Tuesday, 19 April 2022 13:13

For years, there was a widely held belief that customer empowerment was counterintuitive for businesses. Many companies felt that giving people more information or choices would confuse them or negatively impact sales. It was also common for marketers to offer customers misleading information to encourage them to buy their products or services. 

Then came the age of the Internet and globalization, rapidly shifting the power dynamic. With a platform to exchange unfiltered information on businesses, and the ability to take companies to task online, customers had more control. 

Many businesses that embraced this market shift earned phenomenal success. Others in their industries ultimately followed suit. You don’t have to look further than Amazon, eBay, or Netflix for companies that used customer empowerment to their own advantage. 

Some industries, like real estate, have been resistant to these changes, satisfied with keeping customers in the dark. But the sands are rapidly shifting in real estate too. 

So, what is Customer Empowerment exactly? 

In marketing terms, customer empowerment is the process of giving customers the necessary services, resources, or tools to make educated decisions. Fueling this concept is the idea that clients are the primary focus of a successful business, while products, sales, and revenue come afterwards.  

Empowering customers can also be beneficial to a company in multiple ways: 

  • Brand exposure
  • Brand strengthening
  • Customer loyalty
  • Authentic feedback
  • Greater product satisfaction

Why is it Important in Real Estate?

Customer empowerment is critical in real estate because buying a home is one of the most important decisions a person makes in their life. With the tools to make a better choice, they can avoid regrets about a large financial investment that may impact them for decades. Real estate investors, too, can make faster and better choices with more tools at their disposal.  

Empowered customers can also avoid matching with the wrong real estate agent. 

What Empowers Buyers & Sellers? 

There are a few factors that help put the power in the hands of buyers and sellers to empower them to make educated decisions:

  • Empathy
  • Customer service
  • Transparency
  • Resources

A Real Estate Marketplace That Empowers Customers

The innovative online marketplace, Nobul, is quickly shattering concerns from realtors that customer empowerment can be counterproductive in the real estate industry. 

The platform gives homebuyers and sellers more control by having real estate agents compete for their business. As a result, customers and agents on the platform are thriving. Nobul recently hit a significant milestone, boasting $5B+ in homes bought and sold on the platform. 

The key to Nobul's success, of course, is customer empowerment. Regan McGee, the CEO of Nobul, shared in an interview with Superb Crew that “The nucleus of the company is all about transparency and empowerment for homebuyers.” 

As mentioned earlier, more buyers are turning to the Internet to steer clear of undesirable realtors. But fact-checking is becoming tougher at a time when agents can purchase reviews, Twitter followers, and Facebook feedback. 

Nobul uses sophisticated technology to counter this. It utilizes complex algorithms to analyze Big Data, offering customers top agents with verified reviews. 

The award-winning disruptive platform is proof that customer empowerment is the way of the future in business, even in the real estate industry.

Rate this item
(0 votes)

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries