Mike in TO
Senior Member
J.D. Power and Associates Reports:
Toronto New Condominium Builders Make Considerable Gains in Customer Satisfaction
Tridel Ranks Highest in Satisfying New Condominium Buyers in the Greater Toronto Area for a Second Consecutive Year
TORONTO: 3 October 2007 — Condominium builders in the Greater Toronto Area (GTA) are improving steadily in satisfying new-home buyers compared with 2006, according to the J.D. Power and Associates 2007 Canadian New Condominium Builder Customer Satisfaction Study SM released today.
The study, now in its second year, measures customer satisfaction of condominium buyers throughout the purchase and early ownership experience. Buyers are asked to evaluate their builder in nine factors: sales staff; design centre; home and building readiness; customer service; price/value; physical design; building features/amenities; home quality; and location.
The GTA market average satisfaction score has increased to 620 (on a 1,000-point scale) in 2007 from 588 in 2006—representing a gain of 5.4 percent. While GTA builders have made improvements across all nine factors that contribute to overall satisfaction, the most notable gains are in three areas: home and building readiness, physical design and building features/amenities.
“It is clear that many builders are focusing more intently on the expressed needs and desires of home buyers,†said Darren Slind, senior director of the real estate and performance improvement practices at the Canadian office of J.D. Power and Associates. “These builders are responding with an improved new-condominium purchase and ownership experience that more closely matches customer expectations. Condominium builders have made great strides in areas that matter most to buyers, such as increasing the ease of onsite move-in, improving the condition of the suite and building exterior at occupancy, and enhancing the usability and functionality of balconies and patios.â€
Tridel Corporation ranks highest in new-condominium buyer satisfaction in the GTA for a second consecutive year with an index score of 767. Tridel performs particularly well in seven of the nine factors that contribute to overall satisfaction: sales staff; design centre; physical design elements; home quality; home and building readiness; warranty service and building features/amenities. Daniels Corporation and Monarch Corporation follow Tridel in the rankings with scores of 712 and 682, respectively. All three builders show considerable improvement in overall customer satisfaction performance compared with 2006.
The study finds that the frequency and quality of communication between the builder and the condominium buyer has a strong impact on customer satisfaction.
“One of the common strengths of the highest-ranking builders is that they are very proactive in communication with their customers,†said Slind. “They don’t wait for the home buyer to call to ask for construction status updates or to report problems after they’ve moved in. These builders invest considerable time and effort to keep their buyers informed and engaged throughout the entire purchase and early ownership period, which can span up to three years,†said Slind.
The study also finds that the need for pro-active communication extends to the property management team. For example, nearly one of every two new condominium owners report that no formal introduction was made to the property management team, which has a negative impact on satisfaction. Similarly, the availability of the property management team and the timeliness of their communication with residents also have a strong impact on customer satisfaction.
The 2007 Canadian New-Home Builder Customer Satisfaction Study is based on the responses of 1,499 buyers within the Greater Toronto Area whose condominium homes registered in calendar year 2006. The study was fielded from March to May 2007. J.D. Power and Associates also measures customer satisfaction with new-home builders (low-rise homes) in the Greater Toronto and Ottawa-Carleton markets. For more comprehensive information on GTA and Ottawa-Carleton builders, visit the J.D. Power Consumer Center at www.jdpower.com/canada.
Rankings (out of 1,000)
Tridel: 767
Daniels: 712
Monarch: 682
Menkes: 664
Pemberton: 620
H&R (Lanterra): 556
Camrost-Felcorp: 485
Cresford: 420
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Toronto New Condominium Builders Make Considerable Gains in Customer Satisfaction
Tridel Ranks Highest in Satisfying New Condominium Buyers in the Greater Toronto Area for a Second Consecutive Year
TORONTO: 3 October 2007 — Condominium builders in the Greater Toronto Area (GTA) are improving steadily in satisfying new-home buyers compared with 2006, according to the J.D. Power and Associates 2007 Canadian New Condominium Builder Customer Satisfaction Study SM released today.
The study, now in its second year, measures customer satisfaction of condominium buyers throughout the purchase and early ownership experience. Buyers are asked to evaluate their builder in nine factors: sales staff; design centre; home and building readiness; customer service; price/value; physical design; building features/amenities; home quality; and location.
The GTA market average satisfaction score has increased to 620 (on a 1,000-point scale) in 2007 from 588 in 2006—representing a gain of 5.4 percent. While GTA builders have made improvements across all nine factors that contribute to overall satisfaction, the most notable gains are in three areas: home and building readiness, physical design and building features/amenities.
“It is clear that many builders are focusing more intently on the expressed needs and desires of home buyers,†said Darren Slind, senior director of the real estate and performance improvement practices at the Canadian office of J.D. Power and Associates. “These builders are responding with an improved new-condominium purchase and ownership experience that more closely matches customer expectations. Condominium builders have made great strides in areas that matter most to buyers, such as increasing the ease of onsite move-in, improving the condition of the suite and building exterior at occupancy, and enhancing the usability and functionality of balconies and patios.â€
Tridel Corporation ranks highest in new-condominium buyer satisfaction in the GTA for a second consecutive year with an index score of 767. Tridel performs particularly well in seven of the nine factors that contribute to overall satisfaction: sales staff; design centre; physical design elements; home quality; home and building readiness; warranty service and building features/amenities. Daniels Corporation and Monarch Corporation follow Tridel in the rankings with scores of 712 and 682, respectively. All three builders show considerable improvement in overall customer satisfaction performance compared with 2006.
The study finds that the frequency and quality of communication between the builder and the condominium buyer has a strong impact on customer satisfaction.
“One of the common strengths of the highest-ranking builders is that they are very proactive in communication with their customers,†said Slind. “They don’t wait for the home buyer to call to ask for construction status updates or to report problems after they’ve moved in. These builders invest considerable time and effort to keep their buyers informed and engaged throughout the entire purchase and early ownership period, which can span up to three years,†said Slind.
The study also finds that the need for pro-active communication extends to the property management team. For example, nearly one of every two new condominium owners report that no formal introduction was made to the property management team, which has a negative impact on satisfaction. Similarly, the availability of the property management team and the timeliness of their communication with residents also have a strong impact on customer satisfaction.
The 2007 Canadian New-Home Builder Customer Satisfaction Study is based on the responses of 1,499 buyers within the Greater Toronto Area whose condominium homes registered in calendar year 2006. The study was fielded from March to May 2007. J.D. Power and Associates also measures customer satisfaction with new-home builders (low-rise homes) in the Greater Toronto and Ottawa-Carleton markets. For more comprehensive information on GTA and Ottawa-Carleton builders, visit the J.D. Power Consumer Center at www.jdpower.com/canada.
Rankings (out of 1,000)
Tridel: 767
Daniels: 712
Monarch: 682
Menkes: 664
Pemberton: 620
H&R (Lanterra): 556
Camrost-Felcorp: 485
Cresford: 420
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