Client Care Flashcards
What is Client Care?
In general client care is looking after your client’s best interest.
Client care overlaps the Ethics, Rules of Conduct and professionalism competency, covering processes such as complying with anti-money-laundering legislation, checking for conflicts of interest and agreeing terms of engagement.
A failure to provide good client care can lead to dissatisfaction and complaints
What is Colliers CHP?
It is detailed within all our Terms of Engagement.
It includes contact details of our CHO and their contact details in which to lodge a complaint.
This will be acknowledged within 2 working days and responded to in 28 working days.
If the party who lodged the complaint is unsatisfied with the result. They can take the disputed to a third party for an ADR.
For Colliers this is the International Dispute Resolution Centre.
What is a Service Level Agreement?
An agreement between a service provider and a customer which details specific requirements and aspects of the service.
What can the service level agreement elements be?
-Liability Cap
-how to invoice
-confidentiality
-CSR
-termination of agreement
CC: Within your client care LV2 Norfolk valuation, what did you ensure was in the report as per your service level agreement.
The client was Natwest and the value was below £5m so I ensure that the liability cover on the report was £5m.
I ensured that the report was addressed correctly and that the report abided by Red Book reporting standards.
CC: Why is communication important?
The foundation of client care. It enables good instruction management and maintains the client relationship.
CC: How would client objectives affect the care you provide?
It would not. I would always provide the best quality care but tailor it to my client and their needs.
CC: What are the importance of terms of engagement and what is included?
TOE are are important as they remove any uncertainty and potential conflicts surrounding an instruction as it is mandatory to document all the key factors and have them signed and returned by the client.
They Included:
-Identification of valuer
-asset
-date
-fee
-currency
-basis of value
-purpose of val
-assumptions and special assumptions
-extend of investigations
-liability limit
-red book compliance
-CPH
- Restrictions
-format
-nature of evidence
-other users
-subject to RICS compliance
CC: What is Colliers CHP?
- In-house
Complaint is acknowledged by firm in 2 working days and investigated within 28 working days.
- ADR
Independent resolution if above is not enough.
Colliers = International Dispute Resolution Centre & Property Redress Scheme
CC Agency Sussex: How is your interested parties schedule managed?
It is managed by the surveyor in charge and documents the contact details of the enquiring party. The document is password protected and can only be accessed by the relevant surveyor and admin support.
CC: Agency Sussex - What action points were there from the interest party enquiries?
Within this instruction the feedback indicated potentially a price reduction was needed. Few offers we received just below the asking price.
CC: Within your client care LV2 Norfolk valuation, what did you ensure was in the report as per your service level agreement.
The client was Natwest and the value was below £5m so I ensure that the liability cover on the report was £5m.
I ensured that the report was addressed correctly and that the report abided by Red Book reporting standards.
How can you ensure good client care?
-Formalise ToE / Understand objectives
-Obtain client feedback
-keep information confidential and have appropriate procedures in place
-tailor reporting to client to meet the clients needs and requirements
What is a duty of care?
To ensure another party does not suffer harm or loss that can arise from a breach of contractual obligations.
Whats the difference between a client and a customer?
Client requires a professional service from a business whereas a customer is purchasing good and services in a typically one time transaction.
Different relationship with the firm.
