Mandatory - Client Care (L2) done Flashcards
What is Client Care?
Looking after the client’s best interests and providing a level of service that meets their needs.
Understanding that there are different client types of different behaviours necessary to building and maintaining good relationships with clients.
Mentioned in summary of experience
Give me an example of excellent client care?
Milton Keynes acquisition, I arranged a client call to fully understand objectives, promptly followed up with everything I had promised, provided a clear terms of engagement and kept up regular and timely communication throughout the instruction.
How do you deal with Customer Complaints?
Through the Complaints Handling Procedure
If a Client was prepared to pay in advance for services your company were providing how would you deal with it?
A regulated firm needs to follow the PS on Client money handling in 2019.
- Hold all client money in a client money account.
- Not contain any other sums
- Ensure that all client money accounts include the word ‘client’ (written in full) and the name of the firm in the title of the account.
- Ensure that money held in a client account is immediately available even at the sacrifice of interest. etc.
If you were going to set up a business and operate as a Chartered Surveyor, what insurance would you need to put in place?
Professional indemnity insurance
Employer’s Liability
Public Liability
Building Insurance
How do you choose a PI Provider?
RICS publishes a list of approved providers
What does an employer’s liability insurance cover?
Covers employers for compensation claims against you by employers for accidents or illness that occur during their work.
What does public liability insurance cover?
Covers you against actions of a third party
How do you refer a Client to your Complaints Handling Procedure?
It should be included within the Terms and Conditions of the contract to the Client
What is an Ombudsman?
An official who is appointed to investigate individuals complaints against a company or organisation
When will RICS investigate?
RICS will consider whether there is sufficient information to suggest that a Regulated Member may have breached the Bye-Laws, the Rules of Conduct (the Rules), and/or professional standards
Reasons for RICS to investigate?
- Failure to utilise a Complaints Handling Procedure.
- Failure to disclose a conflict of interest
- Misuse of client’s money
What RICS documentation would you consider wehn dealing with complaints?
RICS UK Professional Standard Complaints Handling (1st edition) 2016
What are the steps provided for by the RICS for dealing with a complaint?
- Notify your PII Insurer when a complaint comes in
- In-House: nominated person must acknowledge the complain within 7 days and investigate within 28 days
- ADR: If complainant not happy with outcome, refer to Alternative Dispute Resolution where an independent 3rd party will investigate
Must record in complaints log
What is included in your Terms of Engagement?
- Client contact
- Property address/Project name
- Scope of Work
- Fee agreement
- Complaints Handling
- Liability cap and insurance
Why is client care important?
- In line with the RICS Rules of Conduct providing a good quality and diligent service (Rule 3)
- Helps with client satisfaction, achieves goals and can lead to repeat instructions/recommendations/referals
- Leads to overall business success
How did you demonstrate client care in your Milton Keynes acquisition?
- I ensured I fully understood who the key stakeholders were and the clients objectives
- I was reliable, acting as I would advise when following up with summary of discussions
- I was accountable, responded promptly
- Referred back to my clients objectives throughout the transaction
How did you demonstrate client care in your Holborn disposal?
- I arranged monthly marketing meetings to ensure a regular reporting system with the client
- Also updated the client more regularly and kept good line of communication ensuring they felt supported
- Presented offers in line with the Estate Agents Act 1979
- Responded quickly to enquiries
Who were the key stakeholders in your Milton Keynes acquisition?
- The Board - key decision maker including CFO and CEO
- The local team on-site
- Client contact - Head of Property
- Then once terms agreed - solicitors, landlord, landlord agent
Who were the key stakeholders in your Holborn Disposal?
- Landlord client
- Joint agents
- Colleagues
In your Milton Keynes acquisition, what were your clients objectives?
- Secure new premises for local team
- Location: Milton Keynes
- Needed parking
- On-site security
How would you set a fee?
- Assess resources required
- Assess time needed to complete instruction
- Level of PII required
- (optional) assess value of property/value of instruction
Can you alter your fee?
Yes but need to behave professionally - should have been assessed correctly before, but still need to provide a high standard of service
Tell me about the CPD sessions on client relationship management?
- Building Better Business Relationships
- being patient
- tailoring verbal style to audience
- being a good listener and communicator
- being accountable and transparent
- building trust
How have you provided a good level of client care?
- Ensuring I fully understand client objectives
- Managing expectations
- Being transparent
- Establishing good communication
- Identifying opportunities and risks
What is the importance of setting up an initial call with a client before the instruction?
- Ensuring you are competent
- To fully understand requirements of the project
- To understand clients objectives
- To manage expectations, clarify timescales
What must you do before starting work on an instruction?
- Confirm competence
- Check no COI
- Prepare ToE and recieve signed copy
- Carry out AML checks
