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Harcourts Victoria has received the results of an external survey that benchmarked it against industry rivals and outside groups.
The survey, commissioned by chief executive Sadhana Smiles, placed Harcourts Victoria in the 96th percentile for general satisfaction.
It also found that 97 per cent of franchisees love the brand, 92 per cent would again select Harcourts Victoria as their franchise and 91 per cent believe there is a strategy in place to protect future growth.
Ms Smiles told REB that one of the big things franchisees are happy with is service levels, while one of the things they want the group to improve is its marketing.
“They want you to be on TV and radio and newspapers and have as much voice out there as you possibly can. You’ve got to pick what suits your business the best and suits your market the best,” she said.
“The feedback was that they love the brand and there’s a strong sense of belonging, but let’s reinvigorate the marketing and branding of Harcourts, in Melbourne in particular," she said.
"We do this research so we can understand exactly what is important to our franchisees and deliver relevant services. We also want to know the key areas we can improve in, something every business can do regardless of how successful you are.”
Ms Smiles said external benchmarking is the best way for a business to assess its performance, get new ideas and ensure it is able to recruit and retain the best people.
“If people aren’t satisfied with the Harcourts brand, they’ll probably change to another real estate franchise or become an independent,” she said.
“Somebody who’s in a sales business outside the real estate industry could potentially become real estate salespeople. Other franchising businesses are a feeder for real estate businesses.”
[LinkedIn: What made you join or leave the franchise sector?]
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