July 2013 Member Survey Results - MIBOR Survey 2013... · Sept 2011 . March 2012 . Sept 2012 . July 2013 Since the initial wave of research in 1998, the BLC ® (formerly MLS) has

931 E. 86th St., Suite 120 Indianapolis, IN 46240 Phone: (317) 465-1990 Fax: (317) 465-1991

July 2013 Member Survey Results

September 17, 2013

931 E. 86th St., Suite 120 Indianapolis, IN 46240 Phone: (317) 465-1990 Fax: (317) 465-1991 2

Web Methodology

• Web survey open from Tuesday, July 9, through Tuesday, July 23 • Determine the relative strengths or weaknesses of the relationship with MIBOR Members for July

2013 and compare to the benchmarks established from 1998 – September 2012 • Evaluate the key elements used by REALTORS® to assess the MIBOR relationship, with

emphasis on how the relationship can be improved


28% 23% 24% 19% 16% 17%

37% 31% 32% 35% 32% 34%

34% 46% 44% 46% 52% 50%

0%

20%

40%

60%

80%

100%

1998 March 2011

Sept 2011

March 2012

Sept 2012

July 2013

Fair / Poor Good Excellent / Very Good

Overall Value By Segments

Q1: Considering the overall quality of MIBOR products and services, as well as the cost, how would you rate the overall value you receive from MIBOR?

Over the past two years, MIBOR has improved the members’ perceptions of Value, taking into consideration the products and services they receive relative to the dues and fees they pay..


MIBOR Reputation

Q8a-e: Next, please indicate how much you agree or disagree with the following statements regarding MIBOR as a professional organization.

Strongly Agree / Agree

50%

63%

53%

80%

61% 64%

78%

66%

87% 79%

69%

81%

68%

90%

80%

63%

73%

63%

86%

75%

66%

81%

67%

89%

78% 70%

83%

71%

92%

83%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

Cares About Your Needs

Easy to Do Business With

Looks Out for Your Interests

Professional Responsive

1998 July 2010 March 2011 Sept 2011 March 2012 July 2013

MIBOR’s Reputation as a professional organization has improved slightly in two consecutive waves.

Since the inception of its member research in 1998, most Reputation based evaluations have increased significantly.


Overall Quality of Membership

Q7: Thinking about all the products, services, and support provided by MIBOR as part of your membership, would you say the overall quality is…?

46% 47% 42%

47% 57%

48%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011

March 2012 Sept 2012

July 2013

Excellent / Very Good

After a significant increase in the perception of Membership Quality in September 2012, MIBOR has retreated to the March 2012 rating.


Quality of Membership Drivers

Process Area Driver Strength

Broker Listing Cooperative® Strong

Publications & Communications Moderate

Member & Industry Advocacy Weak

Call Center / Tech Staff Weak

Professional Standards & Dispute Resolution Weak

Economic & Community Development Efforts Weak

Business Solutions Staff Insignificant

Sentrilock Electronic Lock Box Service Insignificant

Problem Experience Insignificant

As has been the case throughout the history of the member research, the BLC® continues to have the most impact on Quality of Membership.

The lone moderate driver is Publications & Communications, followed by weak drivers of Member & Industry Advocacy, Call Center / Tech Staff, Professional Standards & Dispute Resolution, and Economic & Community Development Efforts.


49% 37% 38% 40% 38% 37%

1%

35% 36%

14%

16%

13% 11%

33% 20%

11%

39% 19%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

BLC® Pub. & Comm.

Member & Industry

Advocacy

Call Center / Tech Staff

Professional Standards

Econ. / Comm. Dev.

Dues & Fees*

Business Solutions Staff

Sentrilock Problem Experience**

Very Good Excellent

Overall July 2013 Ratings

An overall look at Membership Quality shows two key strengths that have carried over from the September 2012 research: BLC® and Call Center / Tech Staff.

Three long-term challenges for MIBOR continue: Publications and Communications, Member & Industry Advocacy, and Economic & Community Development.

* Percentage “Very Low/Low”

** Percentage “Yes”

65% 58%

49% 48% 50%

74% 73%

55%


Broker Listing Cooperative® Overall Quality

Q10: Thinking only about the Broker Listing Cooperative® listing service (BLC®), how would you rate the overall quality of the BLC®?

53% 55% 56% 64% 60%

66%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011


July 2013

Since the initial wave of research in 1998, the BLC® (formerly MLS) has improved significantly, even after the transition to the BLC® in late 2009.

Prior to the transition, the high water mark for this component of the membership was 68% “Excellent/Very good.”

The July 2013 evaluation is the second-highest in history (68% in 2007).



Broker Listing Cooperative® Overall & Attributes

In July 2013, the main contributors to a strong Overall evaluation are Technology Available and System Speed.

System Speed, in particular, sees a significant increase over the past 10 months (from 52%).


66%57%

52%61%

53%60% 58%

47%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Performance Ratings

Overall Quality (n=615)

Technology available (n=613)

Ease of use (n=615)

System speed (n=615)

Accuracy of listing information (n=612)

Uninterrupted service (n=615)

Sufficient training (n=597)

Accuracy of tax information (n=598)


Publications & Communications Overall Quality

Q18: How would you rate the overall quality of publications and communications provided by MIBOR?

48% 51% 48% 47%

59% 51%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011


July 2013

Publications and Communications has historically tended to be at or around 50% “Excellent/Very good.”

As has been stated in the past, most of the shift has been between “Very good” and “Good” responses.



51% 52% 48%

60% 57% 61%

48%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Performance Ratings


Topics of interest to the local real-estatecommunity (n=577)

What MIBOR can do for you (n=579)

Condition or status of the local housingmarket (n=583)

Critical issues affecting your business(n=584)

Up-to-date calendar (n=568)

Consumer expectations of REALTORS(n=574)

Publications & Communications Overall & Attributes

While there has been a significant decline in Overall Quality, the three strongest drivers (Local Coverage, What MIBOR Can Do For You, and Local Housing Market) have improved significantly.

Communication of Consumer Expectations (down significantly from 53%) seems to be what is causing the decline in the Overall.



Member & Industry Advocacy Overall Quality

Q23: How would you rate the overall quality of the member and industry advocacy effort provided by MIBOR?

48% 48% 45%

62%

49%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011


July 2013

N/A

After a significant improvement in September 2012, Member & Industry Advocacy has returned to earlier levels.



Call Center / Tech Staff Overall Quality

Q17: Would you say the overall quality of MIBOR’s call center / tech staff is…?

45%

68% 65% 67% 76% 73%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 July 2010

Sept 2011


July 2013

Nine out of ten respondents have contacted MIBOR’s call center / tech staff at some point during their membership tenure.

MIBOR has maintained its exceptionally high Customer Service evaluations from September 2012.



Professional Standards Overall Quality

Q27: Thinking about the professional standards and dispute resolution available through MIBOR, how would you rate the overall quality of the service provided? Would you say they are … ?

N/A

57% 63%

56% 64%

57%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011


July 2013

Professional Standards and Dispute Resolution is a component of the membership which has been up and down historically.



Economic & Community Development Overall Quality

Q20: How would you evaluate the overall quality of MIBOR’s economic and community development efforts in Central Indiana?

N/A

48% 43%

49% 60%

48%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011


July 2013

After two consecutive waves of improvement, Economic & Community Development declined back to early 2012 levels.



Economic & Community Development Overall & Attributes

The Stats House® Database is viewed moderately well (yet has improved significantly since September 2011 - 47%).

Otherwise, all four of the remaining attributes fall well short of the 60% “Excellent/Very good” benchmark for healthy associations.


48%43% 47%

56%47% 48%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Performance Ratings


Community planning (n=371)

Investments in economic development orgs(n=351)

The Stats House Database (n=365)

Enhancing Central Indiana's image andpromoting the region (n=403)

Obtaining REALTOR seats on LEDOBODs (n=326)


Economic & Community Development Economic Development Efforts

Q22a-c: What is your level of agreement with the following statements: Economic development efforts in Central Indiana are important to housing and therefore my business. MIBOR keeps me informed of the success or failure of economic development efforts. MIBOR provides opportunities for me to get involved in economic development issues.

92%

68% 74%

84%

58% 69%

89%

51% 53%

84%

51%

66%

82%

63% 69%

85%

68% 71%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

Development Efforts Are Important to Housing and My Business

Keeps You Informed of Success or Failure of Development Efforts

Provides Opportunities to Get Involved in Development Issues

2006 Feb 2010 July 2010 Sept 2011 March 2012 July 2013

Historically, the strongest level of agreement with MIBOR’s efforts in Economic & Community Development has been with the importance of the efforts to housing and the member’s business.

Over the past three years, there has been an increasing level of agreement with the other two: keeping you informed of the success or failure of the efforts and providing opportunities to get involved. For both components, more than two-thirds of the respondents agree.

Strongly Agree / Agree


Business Solutions Staff Overall Quality

Q15: How would you evaluate the customer service provided by MIBOR’s Business Solutions front office (or lobby staff) during the last 12 months, whether you visited the office or contacted by phone?

N/A

69% 62% 65%

74% 75%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

1998 March 2011 Sept 2011


July 2013

At 75% “Excellent/Very good,” MIBOR’s Business Solutions Staff evaluation has reached its highest point for the second consecutive wave.



75% 75% 72%79%

73% 75% 72% 76%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Performance Ratings


Providing a pleasant experience (n=518)

Providing easy, uncomplicated access(n=517)Their professional manner (n=518)

Response accuracy (n=517)

Providing easily understood information(n=515)Providing consistent service (n=510)

Being greeted quickly (n=517)

Business Solutions Staff Overall & Attributes

All seven attributes exceed not only the 60% “Excellent/Very good” benchmark for healthy associations, but also 70% “best in class” benchmark, which makes up the top tier associations Loyalty Research Center works with.

The strong evaluations have all improved significantly over the past since March 2012.



Sentrilock Lock Box Service Overall Quality

Q12: How would you rate the overall quality of the Sentrilock Electronic Lock Box Service provided by MIBOR?

32%

55% 58% 55% 56%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100%

2000 March 2011

Sept 2011

March 2012

July 2013

The Sentrilock Lock Box Service has been stable with a mid-50% evaluation for the past 2+ years.



Problem Experience

Q29: Thinking about all aspects of your relationship with MIBOR, have you experienced any type of problem during the past 6 months? Q30: What was the nature of the problem? Q31: Was the problem resolved to your satisfaction? Q32: Could it have been resolved to your satisfaction?

90%

10%

Yes No

Could the Problem Have Been Resolved?

29%

71%

Yes No

Was the Problem Resolved?

86%

14%

Have not experienced a problem

Have experienced a problem

Top 5 Problems

1. BLC® / Fusion issues (36 responses, 40% of responses)

2. Technical / computer issues (10 responses, 11% of responses)

3. Call center / customer service issues (7 responses, 8% of responses)

4. Poor enforcement of professional standards (7 responses, 8% of responses)

5. Billing (6 responses, 7% of responses)


Improvements & Suggestions By Category

Q33: In your opinion, how can MIBOR improve the quality of the products and services it provides to you?

Improvements & Suggestions # of Responses % of Responses

BLC® / Fusion 50 16% The new Fusion system is missing a few of the key features I used often with Tempo, like buyer and seller net sheets.

Less expensive dues / prices 40 13%

I think the only problem I see is the dues have escalated way too much.

Insufficient / up-to-date technology 37 12% Mobile apps need huge improvements. Whoever designed them has never actually had to use them!

Poor listing information accuracy 22 7% More emphasis should be made on accurate listings. I am tired of wasting my time showing properties that have been under contract for days and nothing is indicated in BLC and nothing is said at CSS when scheduling. I understand everyone is busy but especially on short sales if there is a seller accepted offer in to the bank for review it should be noted in BLC. This has been a problem for years and nothing has changed.

Better enforcement of professional standards 19 6% Make the grievance process easier and encourage agents to file.

Improve communication in general 18 6% More transparency and communication about finances and where our money goes.

Miscellaneous 33 11% Take rural communities into consideration and pay a little closer attention to them.

Legal advice would be good; I had an issue and still had to pay outside legal fees. Not sure if it is possible.


General Market Perceptions

Q37: Generally speaking, do you feel that the economy is headed in the right direction, or do you feel that things have gotten off track and are headed in the wrong direction? Q38: …housing market…? Q39: ...MIBOR…?

Economy Housing Market MIBOR

69%

31%

85%

15%

Right direction Wrong direction

87%

13%

The general perception of the economy is the most optimistic it has been since this question was first asked in 2011 (up from 55% “right direction” in September 2012).

The perception of the housing market is also the most optimistic (up from 74% “right direction” in September 2012).

MIBOR still receives a strong evaluation, but it is down from 91% “right direction” in September 2012.


One Issue Having Greatest Impact on Business

Q41: What one issue (MIBOR-related or not) is having the greatest impact on your business right now?

Issue (Most Common) # of Responses % of Responses

Economy / Market 70 14% Slowness of the recovery from the 2008 financial disaster.

Lending / Financing / Mortgages 54 11% Financing changes in the industry affect my business, new construction in specific.

Interest rates 49 10% Interest rates going up and getting the word out to potential sellers that this is a good time to sell their houses.

Inventory 39 8% Lack of supply of the type of homes my buyers are looking for.

Politics / Government issues 32 6% The federal government regulations, they need to stay out of the banking and housing industry.

Appraisals 25 5% Appraisals not keeping up with the changing market.

Costs / Dues / Fees 24 5% The expense of doing business - Fuel, transportation, insurance, membership dues, technology fees of all sorts, etc.

Miscellaneous 38 8%


Key Takeaways for MIBOR Board of Directors & Staff As members continue to be more optimistic that the economy and the housing market are

improving, it is not surprising that their expectations of MIBOR are changing.

Given the changing expectations, while the Value of MIBOR membership has remained stable, the perceived Quality of Membership has declined significantly over the past ten months. BLC® has increased significantly – perception of System Speed.

Publications & Communications, a moderate driver of Quality, has declined significantly over the past ten months. This component of the membership has been the most challenging historically, as the shift in evaluations tends to be between “Very good” and “Good.” Consumer Expectations.

Member & Industry Advocacy has always been a cyclical challenge for MIBOR. The significant decline in perceived quality has had a negative impact on members’ overall Quality perception.

Economic & Community Development, along with Member & Industry Advocacy, have historically been polarizing issues for members. Although Economic & Community Development has declined over the past ten months, the greatest shift has been from a “Very good” to a “Good” evaluation.

Although not a significant driver of Quality, the Business Solutions Staff continues to be the top strength of MIBOR’s membership offerings. Across the board, evaluations have reached their high points in the mid 70% range. Compared to other associations, MIBOR has positioned itself in the top tier of service evaluations seen in Loyalty Research Center’s 16 years of association experience.

Documents

July 2013 Member Survey Results - MIBOR Survey 2013... · Sept 2011 . March 2012 . Sept 2012 . July 2013 Since the initial wave of research in 1998, the BLC ® (formerly MLS) has