Priceless insights and transparency with customer reviews – Nordvik Bolig is taking the real estate industry to the next level.
Nordvik Bolig invests digitally with both customer reviews and their own app to change the entire real estate industry. Today they receive feedback from 40% of all customers!
Nordvik Bolig wants to stand out by creating new solutions and contributing to transparency in a fairly traditional industry. The goal is to make it easier for customers to make informed decisions. «We wanted to find out what customers really think about our services » says Bjørnar Førre Skogstø, Head of innovation and digital services. «Initially to use the insight internally, but now we also present the results openly. »
Gaining market shares
The Norwegian real estate agency Nordvik Bolig currently has 29 independent franchisees. The number of offices has doubled since 2018 and the market share is 7–8% in Norway. In Oslo, Nordvik Bolig was the second largest real estate chain in 2022. The large growth can be explained by several things. They have opened new offices, but also gained more customers for their existing ones. Bjørnar is of course very exited about what growth will look like going forward. Especially considering their huge digital investment which they hope can attract newly trained brokers. «When we recruit, we are perceived as a company that invests in both people and technology. And now we can openly show that it is true. »
Huge digital investment
Bjørnar describes how the idea of wanting to know more about the customers has always been there. «We wanted to gain more insight into our customers and what they think of our brokers and services, but also how we could improve these. Initially, the plan was to build our own solution to collect feedback. But it is one thing to acquire the data and quite another to utilize and monetize on it. That’s why we started looking for an external supplier. » The reasons they chose Lipscore had to do with recommendations from other users as well as Lipscores Norwegian background.
E-commerce solution in a new way
«It was a big advantage for us that Lipscore is Norwegian because we wanted to use the service in a slightly different way than their typical e-commerce clients. And since the products our customers are rating are actual brokers – that is, people and not physical objects – you need to think carefully about which solution to choose. We chose Lipscore because both the product and the service looked good, and we felt safe with a supplier who can understand how it is to be a broker in Norway. »
Every other customer gives feedback
Today, Nordvik Bolig collects both ratings and reviews after each sale. This means that when the sale is completed, the seller receives an email with the option to give a rating between 1-5 and a written review. With this, Nordvik Bolig collect reviews for both individual brokers and in total for all their offices. Since starting with Lipscore about a year ago, they have received a whopping 3,148 ratings and 1,981 reviews. The response rate is a sky-high 40%, which means that almost half of all customers choose to give a review. «Almost all of our brokers have a rating and review today and the average rating for all of Nordvik Bolig is an impressive 4.82! »
Nordvik Academy & the Nordvik app
Nordvik Bolig use the long-awaited insight and customer data in several different ways. Among other things, they carefully follow up on bad reviews. They also use the insight to improve the training and education for brokers in the Nordvik Academy. The response from the industry has been very good. «Many people think it’s great that Nordvik Bolig has taken the first step. Perhaps it will change the entire real estate industry in the coming years! »
The real estate chain has also developed its own app where the total rating is displayed. In the app, customers can not only see what others think of Nordvik Bolig as an estate broker. But also follow his or her own journey during a housing transaction.
First movers with competitive advantages
«Using ratings and reviews is nothing new – but it is new in this industry. We thought we were doing a good job as brokers. But we couldn’t know until we started measuring customer satisfaction » explains Bjørnar. Right from the start, the ratings have been impressive and to take advantage of the position as first movers Nordvik Bolig decided to show the results openly. «It’s not just about being first doing something new, but also about showing it off. That’s why we posted our total score on the website. It’s a competitive advantage for us – there’s no one else in the industry doing that! »
Commitment is increasing
Nordvik Bolig communicate continuously with their offices and follow up on both good and less good reviews. Each office now has an internal dashboard where each manager has access to the office’s total and the individual brokers’ ratings. At the same time, the brokers themselves also get access to their own ratings and reviews. «We see that our brokers are getting more and more excited and there has been a positive change in commitment. The annual award ceremony for “The broker of the year” has been supplemented by the broker of the year with the highest customer satisfaction! »
As something completely new, Nordvik Bolig’s office in Drammen displays all its brokers’ reviews on their own website. It provides total transparency, which was a request from the employees themselves. They see the good ratings as a great competitive advantage that should be shown to customers. Bjørnar emphasizes that it will be up to each office to decide for themselves whether they want to publish the individual brokers’ reviews.
Might get even more insights in the future
When you want to be known as a digital, innovative real estate chain, it’s not just about saying so. You need to show it. «It gives the consumer great value to know if the broker is good at viewings, biddings or the like. » Therefore, the next step could be to use Lipscore’s Product Attributes, where it’s possible to specify the feedback by asking three follow-up questions. Making it possible to ask questions such as: how satisfied are you with the viewing, the bidding or the follow-up. «This could potentially give us even greater insight into how Nordvik Bolig as an organization can become even better » Bjørnar says.
«The most important thing you can do as a broker is to deliver quality from start to finish. If you deliver a good customer experience, you will likely get good reviews – and good reviews will get you more assignments and thereby more sales! »
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