How do you track broker feedback to improve client outcomes?

1 Set clear expectations

Before you start working with a broker, make sure you have a clear and mutual understanding of your goals, roles, and expectations. Discuss how often and how you will communicate, what kind of feedback you need and how you will use it, and how you will measure and reward performance. Having a written agreement or contract can help you avoid misunderstandings and conflicts later on.

2 Use a feedback system

To track broker feedback, you need a system that allows you to collect, organize, and access it easily. You may choose a simple spreadsheet, a CRM software, or a specialized feedback tool - whichever you decide upon, make sure it has the features necessary for capturing feedback from multiple sources, like phone calls, emails, surveys, or online platforms. It should also enable you to categorize feedback by type (positive, negative, constructive, or actionable), filter and sort feedback by criteria (date, broker, listing, or deal), and visualize and analyze feedback trends.

3 Act on feedback

Tracking broker feedback is not enough, you need to act on it to improve your client outcomes. Responding promptly and professionally is essential, as well as considering the relevance, feasibility, and benefit of the feedback. Involve the client in the decision-making process by explaining the rationale behind the feedback and how it affects their goals. Lastly, follow up with the broker and the client on the results of the feedback to show them how their input made a difference, what challenges you faced, and what lessons you learned.

4 Evaluate feedback

Tracking and acting on broker feedback is an ongoing process that requires constant evaluation. You need to monitor the impact of feedback on client outcomes, such as satisfaction, retention, referrals, and revenue, and assess the quality and value of feedback from different brokers. Additionally, you should ask yourself questions like: how often and timely do you receive feedback from brokers? Is the feedback clear and specific? Is it useful and actionable? How do you incorporate it into your client service plan? How do you communicate it to your client and the broker? How do you track the outcomes of feedback for your client and the broker? And how do you reward and recognize brokers for their feedback? By addressing these questions, you can identify best practices and areas for improvement .

5 Learn and improve

The ultimate goal of tracking broker feedback is to learn from it and improve your skills and performance. By following the tips above, you can use broker feedback to identify your strengths and weaknesses as a broker or agent, discover new opportunities and challenges in the market, develop new skills and knowledge in your field, build trust and rapport with your brokers and clients, and grow your network and reputation in the industry. This can turn broker feedback into a powerful tool for enhancing your client outcomes.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?