Lisa Wenzel, Managing Broker at Wenzel Select Properties was named Five Star Real Estate Agent for the 8th year by Five Star Professional. Award candidates are identified through evaluations completed by consumers. Recent homebuyers are asked to evaluate real estate agents with whom they have worked and evaluate them based on ten criteria. The homebuyers may evaluate up to two real estate agents in order to measure the experience associated with the purchase and sale side of a move.
To receive the Five Star Real Estate Agent award, a real estate agent must satisfy five objective eligibility and evaluation criteria that are associated with real estate agents who provide quality services to their clients. The award process is conducted annually in each market.
Five Star Real Estate Agent Award Process
The nomination and candidate selection process for the Five Star Real Estate Agent award is designed to identify the broadest possible population of high-quality award candidates in order to ensure that eventual award winners have been drawn from a large and diverse pool. Five Star Real Estate Agent award candidates are identified by one of three sources; consumer nominations, peer nominations, pre-qualification based on recent production history. The Five Star Real Estate Agent award process is conducted annually in each market.
1. Define Research Geography and Relevant Population of Recent Homebuyers
For city/metro markets, the partnering magazine publication defines the geographical area in which the magazine is distributed. For regional/national markets, we define the geographic bounds of each market, with some research areas limited to cities and others covering larger regions that stretch beyond any one metro area. This is typically a list of counties but may also include a list of zip codes. Within this geography, Five Star Professional defines the population of recent homebuyers to be surveyed as all area residents who purchased a home within 5 year time period depending on market size and sample size requirements.
2. Acquire Recent Homebuyer Lists
Once the geography and the population of recent homebuyers have been determined, the data is acquired. The list of recent homebuyers is provided by an outside data provider.
3. Solicit Recent Homebuyer Evaluations
Five Star Professional administers a survey. Clients of real estate agents may also submit evaluations online. Each respondent is asked to evaluate only real estate agents with whom they have worked and evaluate them based upon ten criteria: customer service, integrity, market knowledge, communication, negotiation, closing preparation, post-sale service, find the right home, marketing of home, and overall satisfaction. Additionally, respondents are asked whether they would recommend the agent to a friend. This information is incorporated into a client scoring algorithm as a cross-check against their average rating. Recent homebuyers may evaluate up to two real estate agents in order to measure the experience associated with the purchase and sale side of a move.
4. Solicit Industry Peer Evaluations
Five Star Professional administers a survey by email to industry peers and professionals (mortgage professionals, insurance professionals, and real estate professionals). Each respondent is asked to evaluate real estate agents with whom they have worked or have close, intimate knowledge of their business practice. Respondents are asked to evaluate them based on four criteria: industry expertise, customer service skills, market knowledge, and negotiation skills. Additionally, respondents are asked whether they would recommend the agent to a friend if they were unable to provide real estate services. Each industry peer may evaluate up to five real estate agents.
About Five Star Professional
Five Star Professional conducts research to help consumers with the important decision of selecting a service professional. The Five Star award is presented to wealth managers, real estate agents, mortgage professionals, home/auto insurance professionals and dentists in more than 45 markets in the U.S. and Canada. The Five Star award recognizes service professionals who provide quality services to their clients.
Five Star Professional:
– Conducts comprehensive research
– Recognizes service professionals
– Partners with leading city/regional magazines
– Helps award winners gain the recognition they deserve