The Broker Knows Blog

Randy Brown

2010 Five Star Real Estate Agent

5280 Magazine

Research – evaluation/selection methodology summary (From Five Star)

An independent third party, Crescendo gives the FIVE STAR Award in order to assist consumers in selecting a service
professional other consumers have indicated provide exceptional overall satisfaction. Here is how they do the selection.

• We surveyed, by mail and phone, all Denver area residents who purchased a
home over $100,000 within an 18 month period (May 2008 to November 2009),
10,000 subscribers of 5280 magazine, and 870 Mortgage and Title Companies,
and asked them to evaluate real estate agents with whom they have had
direct/personal experience. Recent homebuyers and subscribers can
evaluate up to 2 agents (because they may have had experience with an
agent on both the buy and sell side). Mortgage and Title companies can
evaluate up to three agents.
• Research company validates that each agent holds a current
real estate license and has no known history of disciplinary action.

• Then each agent receives a preliminary score based on the agent’s
evaluations. The scoring algorithm takes into account the quality of each
evaluation. The evaluation form asks the respondent to evaluate the agent
across nine different attributes (customer service, integrity, market knowledge,
communication, negotiation, closing preparation, finds the right home,
marketing of home, and overall satisfaction), whether they would recommend
the agent to a friend (strongly agree, agree, somewhat agree), the number of
transactions completed with the agent, how many years ago they worked
with the agent, etc. All of these factors are incorporated into a scoring
algorithm.

• We then compile a list of the top scoring agents – representing less than 7% of
the agents in the market who hold a current license.

What an honor.  My thanks to them for this award.

Randy