Introduction
Overview of real estate market in Ho Chi Minh City
Vietnam's real estate market is experiencing rapid growth, driven by modern integration and new opportunities for development In Ho Chi Minh City, the increasing population and urbanization have created a pressing need for residential and commercial properties, making real estate brokerage services highly dynamic in the area.
As of early September 2009, the Department of Housing and Real Estate Market reported the establishment of 226 real estate trading floors, primarily located in Ho Chi Minh City (123 floors) and Hanoi (82 floors), with additional floors in Binh Duong, Da Nang, and Quang Nam A 2010 analysis ranked Ho Chi Minh City 13th in the Pacific-Asian region for real estate investment potential, highlighting it as a leading destination for opportunities in Southeast Asia The city is recognized for its growth potential in retail and hotel real estate sectors.
Ho Chi Minh City ranks fourth in industrial and goods distribution real estate, and sixth and seventh in office and apartment leasing, respectively This highlights the city's promising real estate market, attracting a diverse range of companies As established real estate firms launch transaction floors, an influx of enterprises and individual brokers intensifies competition in the market.
Reason for this study
Currently, real estate transactions in Ho Chi Minh City are thriving across various districts and wards, facilitated by approximately 123 local real estate floors and numerous freelance brokers Daily information on buying and selling land and houses is readily available in newspapers such as Mua Ban, Tuoi Tre, and Thanh Nien, as well as online platforms To ensure transparency, the Real Estate Trading Law, effective from January 1, 2009, mandates that both individual traders and organizations must comply with specific regulations, including the requirement to conduct transactions through a licensed real estate trading floor for sales, transfers, and leases.
Besides, the society development creates the high demand on service quality Therefore, managers must renew themselves and improve their service quality, clearly proved by customer care programs
Real estate brokerage is a promising and lucrative industry where customer satisfaction is crucial As the market becomes increasingly saturated with brokers, it is essential for each to implement strategic methods and develop a competitive advantage to effectively attract clients and achieve growth.
The aforementioned dilemma has given us the opportunity for the study named
“Research on factors influencing customers’ satisfaction in service quality at Dat Xanh real estate agency.”
Objects
(1) Determination of impacts and relative importance of impacts to customers’ satisfaction over the quality of real estate brokerage service at DatXanh trading floor
(2) Evaluation of customers’ satisfaction from exploitation of real estate brokerage service at DatXanh trading floor
(3) Suggestion for improvement of real estate brokerage service at DatXanh trading floor.
Realistic Meaning
Determination of impacts on service quality helps managers have a firm knowledge of the components of quality Then managers can have a general view on the services they are providing
Defining relative importance of factors help managers gather resources on the improvement of elements, which mainly impact service quality in order to effectively increase customers’ satisfaction
Knowing customers’ opinions about DatXanh’s quality assist the trading floor in having precise judgement on the services it provides and solutions for weaknesses to heighten quality
Building the reputation for brand name and competitive advantage as DatXanh trading floor satisfies customers more than other companies.
Subjects and Scope of Study
Subjects: Customers from the age of 18 who made transactions at DatXanh real estate trading floor in the past six months
We only study: All services are offered in subjects DATXANH survey
Literature Review
Theory on Service Quality
Some quality experts defined that:
- Quality is the fulfillment of demands (Philip Crosy, 1991)
- Zeithaml&Bitner (1996): “Service quality is the provision of excellent service to customers’ expectation
2.1.2 Features of the service field
Service has some particular features to be distinguished with other tangible goods The following features have been recognized:
Services are inherently intangible, making it challenging to assess their quality prior to purchase, as they cannot be measured, tested, or inspected This intangibility complicates managers' efforts to understand customer perceptions and evaluations of the services offered.
Services are inherently diverse, particularly in organizations with significant human resources, as the nature of service activities fluctuates among providers, customers, and quality over time Achieving consistent quality from staff is challenging, as the same service delivered by the same team can yield varying results at different times Consequently, standardization in service delivery is often difficult to attain.
In the field of service, production and consumption cannot be separated (Caruana& Pitt, 1997) Service quality cannot be manufactured in a factory and then be transferred “as-is” to customers
In real estate brokerage services, customer involvement significantly influences the quality of service, making it essential for companies to actively manage and monitor this aspect Customer feedback plays a crucial role in enhancing service quality and ensuring a satisfactory experience.
Commonly, customers and providers must meet each other to make transactions Thus, providers must stay close to their customers
Service quality can be evaluated through two key dimensions: the provision of service and the resulting outcomes (Lehtinen & Lehtinen, 1982) According to Gronroos (1984), these dimensions can be categorized into technical quality, which pertains to what is delivered, and function-based quality, which focuses on the delivery process itself (Nguyen Dinh Tho & Nguyen Thi Mai Trang, 2003).
However, Parasuraman&ctg (1985) are the pioneers to carry out detailed and clear studies of service quality The researchers showed the pattern of five distances to quality
Word of mouth Individual need Experience
Convert company’s feeling to quality indicator
Company’s awareness over customers’ expectation
First distance: To determine the difference between customers’ expectation over service quality and managers’ feeling over what customers expect
A company's limited understanding of its quality and how to effectively communicate it to customers can significantly impact its success This is particularly crucial in the real estate brokerage sector, where brokers must have a clear grasp of the quality they offer and its components to satisfy both investors and buyers.
Second distance: Between features of quality and managers’ awareness
The core reason of this issue starts from staffs’ professional capacity and highly oscillating quality
Third distance: Between service provision and features of quality service
Sub-standard service often highlights the importance of direct staff-customer interactions, particularly in Real Estate brokerage, where a broker's attitude and expertise significantly influence customer perceptions of quality To bridge this gap, companies must prioritize service quality by consistently monitoring employee attitudes and activities in the workplace.
Fourth distance: Between information given to customers and service provision
The fourth distance arises when a trading floor fails to uphold its commitments, leading to a disconnect between advertised services and actual quality Many customers rely on advertising for information, but misleading promotions can tarnish their perception of service quality This discrepancy ultimately undermines customer trust and satisfaction.
Fifth distance: Between expected and received services
The gap in service quality arises from the disparity between customer expectations and their actual experiences When customers perceive no difference between their desired outcomes and their feelings during service use, it signifies that the quality of service is exceptional.
2.1.4 Distance in the feeling of quality
Customers’ feeling of quality is affected by the comparison between expectation and level of receipt
Figure 2-2 Pattern of Feeling-based Quality (Bui Nguyen Hung, 2004)
There are various ways to assess service quality through a customer’s feeling Below are the common assessments:
2.1.5.1 Ten components of service quality (Thomson, 2002)
Reliability: the certainty of results, well-founded, accurate initial actions and commitments
Responding: always ready or willing to quickly serve customers
Capacity: skills and knowledge of interacting staff, supporting staff, organization’s ability of management and operation
Manner: staff is polite, gentle, caring and friendly when interacting
Credibility: faith, trust, honesty and winning customers’ heart
Assurance: no danger, risk or doubt
Approach: able and easy to approach
To effectively convey information to customers, always listen attentively and communicate in clear, understandable language Provide a concise guide that simplifies your services, including detailed explanations of service offerings, pricing structures, and transfer costs Additionally, assure customers that any issues they encounter will be promptly addressed and resolved.
Understanding customers: always try to know about customers’ demands
Tangibility: tangible aspects of the service such as equipment, facilities, staff
The advantage of the model is its comprehensive coverage of service aspects, though it is complex to measure and evaluate Additionally, the theoretical nature of the model results in some components lacking distinctive values Consequently, after numerous audits, researchers have streamlined the model into five key service quality components.
2.1.5.2 Service quality model (Parasuraman&ctg, 1985)
Reliability: ability to provide a service exactly as promised; a service is reliable when it is conducted properly at the beginning
Response: willingness to support customer and provide service promptly as promised
Assurance: personalities of the staff will create trust from customers such as professionalism, courtesy to customers and good communication skills
Empathy: Staffs are friendly, pay interest towards customers and set customers’ mind at rest
Tangibility: the appearance of infrastructure, facilities, staff and materials for communication
The entire service quality is also defined as the way customers assess it
Product: characteristic of the service provided
Procedure: the procedure conducted while serving customers is simple or complicated
Provider: characteristics of a direct provider
Problems: abilities to solve unexpected problems while offering
2.1.5.4 Functional quality and quality assessed by humans (Gronroos,
Humans’ assessment on quality is based on two features:
- Functional quality: what to receive
- Quality assessed by humans: how to receive
Satisfaction Theory
Satisfaction in service marketing is often defined as the outcome of service quality, as noted by researchers such as Anderson & Sullivan (1993), Anderson et al (1994), Cronin & Taylor (1992), and Gotlieb et al (1994) This concept emphasizes a causal relationship where satisfaction is viewed as the assessment of quality following the receipt of a service.
Tabul model: expresses a simple picture about customer satisfaction
In this model, the writer expresses customer satisfaction in the intersection of a company’s abilities and customer’s needs The bigger the intersection is, the higher
Customer’s needs are met satisfaction customers get However, this model is too simple so it cannot express the factors that affect customer satisfaction
In this model, professor Kano distinguishes three qualities of product/service that affect customer satisfaction
The fundamental attributes of a product or service are crucial for customer satisfaction; if these essential qualities are lacking, customers will feel dissatisfied However, simply enhancing these attributes does not lead to increased satisfaction, as customers consider them to be basic expectations If the must-be quality is not met, customers are likely to lose interest in the product or service altogether.
With these attributes, customer satisfaction increases together with the fulfillment of the attributes The higher the fulfillment is, the higher satisfied customers feel and vice versa
Achieving certain attributes leads to customer satisfaction, while their absence does not result in dissatisfaction However, when delighter qualities are provided, customers are thrilled by their usefulness Consequently, focusing on these delighter qualities is essential for enhancing customer loyalty.
Kano model facilitates companies to understand their customers more thoroughly via the quality of product/service affecting customer satisfaction
Parasuraman’s customer satisfaction model based on function and relationship
Figure 2-5 Customer Satisfaction Model Based on Function and Relationship
As the model above shows, customer satisfaction depends on product (service) qualities and relationship Customer satisfaction is formed from two components:
Functional satisfaction: the satisfaction gained due to purchasing qualified goods or services with reasonable price
Relationship: the relationship is gained due to business transaction accumulated by time such as prestige of supplier, professionalism of staff and customer service…
Functional satisfaction and relationship are influenced by the following factors:
Price represents the monetary value of a product or service and is influenced by various factors, including quality, brand reputation, and service offerings In the real estate sector, there is a growing trend where customers are willing to invest significant amounts for qualified services, particularly due to the implications for family and business finances Ultimately, customers prioritize whether the price reflects the quality of the service received, making price a critical factor in determining overall customer satisfaction.
- Service quality: quality is the important factor that influences customers’ decision to buy a product; if the quality is not good, the operation of Stock Exchange will be influenced
- Service quality: in the real estate field, customer satisfaction is highly affected by service quality factor
Relating service and relationship quality: factors relating to professional skills, attitude of staff… conducted exactly as committed, prestigiously to customers… will affect customer satisfaction.
Introduction on the Operation of Dat Xanh Real Estate Exchange
Most countries have a market economy, real estate market established and developed in four stages: primary, concentration, monetization and finance
The real estate market experiences a cyclical pattern akin to other markets, progressing through stages of prosperity, regression, desolation, and ultimately recovery.
Real estate market has severe regional and local characteristics It is not concentrated in one area but spreads widely throughout regions in the country
Real estate consists of immovable assets influenced by cultural, psychological, and preference factors Since each region has its unique culture, psychology, and tastes, real estate market activities exhibit significant local characteristics.
The real estate market is controlled by law
Real estate market is not perfect (due to lack of information and market organizations)
Real estate market has a close relationship to capital and financial market
The real estate market is closely interconnected with the construction industry, influencing various sectors such as construction materials, furniture, and labor Fluctuations in these markets can significantly impact the stable growth of the overall economy.
Founded in 2003 with more than seven years of establishment and development, DatXanh always aims to the sake of customers, investors and community with a slogan Best product – Best service
DatXanh is dedicated to enhancing its capabilities to develop real estate projects that prioritize social welfare and benefit The company aims to establish a strong presence in the market as a leading project investor, supported by a professional marketing strategy that aligns with its core values.
In 2009, DatXanh achieved over 4,200 successful transactions through its distribution system, marking an increase of 2,300 transactions compared to 2008 The total revenue reached VND 4,600 billion, with intermediary activities contributing VND 84.9 billion and a net profit after tax of VND 38.181 billion.
DatXanh is actively developing several real estate projects in Ho Chi Minh City, including the PhuGia Hung, Sunview 2, Arisen building, DatXanh villas, and high-rise buildings in PhuocTien, District 9, and Thu Duc, along with the TNT building.
In addition, DatXanh is also the headquarter responsible for distributing and marketing for projects like Man Long, Sen Phuong Nam villa area, Kim Tam Hai, Happy
Plaza, GiangDien waterfall residence area, Green valley residence area… (DatXanh Company)
Research Model of Service Quality
The customer satisfaction model developed by Parasuraman and his colleagues in 1985 is a foundational framework for analyzing service quality This comprehensive model addresses various critical aspects of service quality, making it widely applicable across diverse sectors Numerous organizations and researchers have utilized the SERVQUAL model to evaluate service quality in fields such as high-quality education (Ford et al., 1993) and healthcare (Babakus & Mangold, 1992).
Parasuraman et al (1985) emphasized that service quality plays a critical role in influencing customer satisfaction The Servqual model is a key instrument used to assess service quality in marketing research.
In fact, most researches on service quality are based on SERVQUAL (Lim and Tang, 2000; Sewell, 1997; Anderson, 1995)
In short, the customer satisfaction model of Parasuraman&ctg (1985) is very appropriate in this research
In the proposed research model, the concept of "trademark prestige" is introduced as a key factor for evaluation This factor is identified as having a significant correlation with customer satisfaction in the supplier relationship within the British printing industry.
Table 2-1 Describe Factors in the Research Model
STT Factors in the research model
1 Reliability: Showing by the promise with customers, customers receive good product, deliver real estate on time;
2 Responsiveness: Showing by simple procedures, saving customers’ time as trading ;
3 Assurance: Showing by professional level, professional skill, serving customer with elegant and polit
4 Empathy: Showing the concern about individual customer
5 Tangibility: Showing by arranging the modern luxurious furniture at trading post, staff uniform
6 Price: Service quality with suitable price due to the customers’ satisfaction
7 Brand reputation: Showing the trading post’s trustworthy
H1: The higher customer’s feedback about their credibility, the higher real estate intermediary service is
H2: Assessment of customers on response is high will increase the quality of real estate intermediary service
H3: Assessment of customers on security is high will increase the quality of real estate intermediary service
H4: Assessment of customers on sympathy is high will increase the quality of real estate intermediary service
H5: Assessment of customers on tangibility is high will increase the quality of real estate intermediary service
H6: Assessment of customers on trademark prestige is high will increase the quality of real estate intermediary service
H7: The higher customer estimated on brand reputation, the more quality of real estate intermediary service
Research Designation
Research Design
The research is divided into two phases: preliminary and official During the preliminary phase, quantitative methods are employed, including direct interviews with customers, to identify additional factors influencing customer satisfaction beyond those outlined in the initial research model.
Ongoing official research utilizes qualitative methods, including question tables, to assess measured scales and identify key factors This process aims to estimate customer satisfaction and test the underlying theory.
Step Type Method Subject Technique
2 Official Quantitative Customer after trading at DatXanh center
Question interview Progress and analyze data
Qualitative researches are made in order to collect customers' opinions about their interests in improving satisfaction of real estate agency at DatXanh
The processes of contacting customers will help pinpoint out what affects the customers’ satisfaction
Quantitative research was conducted through in-depth interviews with 10 customers exclusively using the real estate agency services at DatXanh The insights gathered from this quantitative study served as the foundation for developing the questionnaire for further qualitative research.
Collecting data skill is question table interviewing The table is given to customers Data collected progress into SPSS software After encoding and cleaning, it is analyzed as follow:
- Testing model by analyze correlative regression, multivariate regression and ANOVA
- Testing theory requesting for improving service quality
The measurement scales used in this research are:
No Concept Measurement scale Notes
3 Brand reputation Trust scale-Guido
4 Satisfacion Satisfaction scale Five Likert points
To effectively implement measurement scales in Vietnam, it is essential to adapt them to align with the country's unique cultural, social, and contextual characteristics.
Developing Research
Subjects are managers and specialists from the real estate field
The writer chooses five people from different fields of management to interview:
Director of real estate exchange
To gather information effectively, the writer schedules individual interviews with each person at the trading post after work, following a structured discussion plan (refer to Annex 1 for details) These meetings are facilitated by the managers of DatXanh, ensuring a smooth interaction with the subjects.
Subjects who are customers of DatXanh:
The writer selects 10 customers for interviews, employing a convenient one-on-one discussion format as outlined in the prepared plan (refer to Annex 1 for details) These interviews take place immediately after the customers complete their tasks, ensuring timely and relevant feedback.
SERQUAL’s service quality measured scale:
The SERVQUAL model, developed by Parasuraman et al in 1985, provides a standardized measurement scale for assessing service quality across five key dimensions The authors rigorously tested and validated this scale, ultimately refining it into 21 specific components to effectively evaluate service quality.
1 Company provides service as promise
5 Anounce to customers when services are done
6 Provide right service for customers
10 Make customers feel safe when trading
11 Staff is always elegant and polite
12 Staff has knowledge to answer customers’ question
The SERQUAL service quality scales developed by Parasuraman have undergone multiple revisions to adapt to various service sectors However, the unique characteristics of real estate brokered services necessitate a tailored approach Following expert interviews to identify key factors impacting customer satisfaction with DatXanh's real estate brokered services, the authors have modified the SERQUAL framework accordingly.
2 DatXanh always consult best product
3 You always believe you’ve bought the best product
5 DatXanh’s staff are always willing to help
6 DatXanh’s staff always meet your demands
8 Don’t have to wait long to meet the staff
10 DatXanh always deliver real estate on time
11 DatXanh’s staff creat belief in customers
15 The company always remember customers’ top consideration
20 Attractive equipment for service activites
12 DatXanh’s staff have enough knowledge to answer question clearly
13 Feeling safe when trading at DatXanh
14 Fast solving your complaint at DatXanh
15 Special attention to the product that you need
18 Work time is convenient to you
23 Beautiful uniform of DatXanh’s staff
Author uses Mollering (2002) to measure brand reputation There are two factors in researching the relationship between printing ink suppliers and customers in Britain
2 Having little complaint on quality of suppliers
3 Having little complaint on delivery of suppliers
5 Prestige in industry of suppliers
6 Hardly having agruement with the suppliers
7 The suppliers understand our business demand and activity
8 Highly appreciate suppliers’ behavior to customers
9 Our good relationship with suppliers’ staff
10 Suppliers essort to remain the relationship with us
Building one on one discussion with administrators and customers and brand reputation are estimated due to four variances that influence customers’ satisfaction and treatment:
- Customers’ belief to DatXanh (customers feel safe when trading at DatXanh)
- DatXanh’s prestige in real estate field
Table 3-6 Trust Scales- Guido Mollering after Correcting
1 You believe when trading at DatXanh
2 DatXanh’s prestige in real estate field
3 Many leading expert at DatXanh
4 Many excellent broker at DatXanh
- The price you get from DatXanh is reasonable
- The price at DatXanh is suitable to your budget
The writer begins by evaluating a measuring scale for services, prices, and credits, followed by an examination of 20 customers to identify any illogical responses Subsequently, the writer will reorganize and refine the questions to facilitate easier responses from the customers.
In recent examinations, the writer has identified the evolving needs of customers, leading to continuous updates in the policies and services offered by DatXanh This analysis focuses on customers who have engaged with DatXanh over the past six months.
The sample for the study is selected using quota sampling based on criteria such as age, income, sex, and education Bollen's analysis suggests a minimum sample size of five participants per model variable, resulting in a required total of 180 respondents for the research model, which includes 29 evaluations To gather data, the author employs a trained team to conduct direct interviews with customers immediately after they complete their tasks at DatXanh.
Within a four week period from 20/10/2010 to 20/11/2010, the writer collects 230 answer sheets, 171 accepted (74%) and 49 denied because some were filled incompletely and unfairly (26%).
Verifying Sample Size
Sample size (n) is the number of objects from which necessary information is collected in the survey to get certain credibility for the research
Estimated sample size: n = 5* (total numbers of questions)
Research Analysis
Descriptive Statistics
Result of describing chart’s part (Table 4-1):
- Most interviewed customer made transactions at DatXanh real estate trading (71%)
The number of Male customers (55%) is larger than that of female customer (45%) Age 41-55 has highest ratio in chart (50%) Among 171 interviewed customers, there are
60 customers with high education (35%); the rest is college (29%), intermediate (20%) and high school (15%)
- Monthly income between 13 and 20 million VND dominates in the chart (40%), next is more than 20 million VND (26%), from 5 to 12 million VND (24%) and lower than 5 million VND 10%)
The chart satisfies the requirement (represent thegeneral public) for the next analyzing steps
4.1.2 Value of variables in chart
Statistics result describes the variables in this model through Table 4-2
Table 4-2 Statistics Result Describes Variables in Model
Variabl Explanation Min Max Mean Stdev
REL01 DatXanh always fulfills promises 1 5 3.74 1.30
REL02 You always believe in good product advisory 1 5 4.19 1.10
REL03 You always believe that you buy the best product 1 5 4.32 0.96
REL04 DatXanh only consult you what product you 1 5 3.64 0.87
RES05 DatXanh’sstaffs are willing to help you 1 5 3.57 0.93
RES06 DatXanh’s staffs always respond to your demand 1 5 3.99 1.10
RES07 DatXanh’sstaff serves you fast and accurate 1 5 3.63 1.23
RES08 You spend very little time to wait for your 1 5 3.51 1.11
RES10 DatXanh’s always hand you your real estate on 1 5 3.68 1.05
ASS11 DatXanh’sstaff earns your belief 1 5 3.82 0.82
ASS12 DatXanh’s staff’s knowledge can answer your 1 5 3.85 0.87
ASS13 You feel safety when buying real estate 1 5 3.58 0.90
EMP14 DatXanh’shandles your complaint quickly 1 5 3.64 1.23
EMP15 DatXanh’s staff especially notice what product 1 5 3.40 1.30
EMP16 DatXanh’sstaffs are always thoughtful 1 5 3.57 0.95
EMP17 DatXanh’s staffs always care about you 1 5 3.36 1.19
TAN18 DatXanh working time is convenience for you 1 5 3.57 0.91
TAN19 DatXanh’s facilities are modern 1 5 4.54 0.72
TAN21 Wide and spacious trade zone 1 5 4.28 0.71
TAN23 DatXanh’s staff’s outfit is pretty 1 5 3.84 1.24
PRI24 Level of price in DatXanh is reasonable for what 1 5 3.45 1.09
PRI25 Level of price in DatXanh is reasonable for your 1 5 3.44 1.08
TRU26 You come to DatXanh with faith 1 5 3.83 0.93
TRU27 DatXanh has good prestige in real estate business 1 5 4.26 0.96
TRU28 DatXanh has top expert in real estate 1 5 3.98 1.21
TRU29 DatXanh has good brokers 1 5 4.23 1.06
SAT02 Come back for trading 1 5 4.193 1.102
The chart illustrates customer perceptions of product quality, measured on a 5-point Likert scale The results indicate that customers rate the quality of these objects from very low to very high, with a minimum score of 1 and a maximum score of 5 The average quality ratings for these variables range from 2.94 to 4.54.
The analysis of the average statistics reveals that three variables exhibit the lowest average quality, ranging from 2.94 to 3.40, with fluctuation limits between 1.19 and 1.3 These variables include RES09 – Short trading time (mean=2.94, Stdev=1.26), EMP17 – DatXanh staff's attentiveness (mean=3.6, Stdev=1.19), and EMP15 – DatXanh staff's awareness of product interests (mean=3.4, Stdev=1.3) Comparing these statistics to the current reality highlights significant areas for improvement.
Despite recent improvements and upgrades to enhance service quality, DatXanh experiences significant overload during peak hours, specifically from 8 AM to 3 PM, leading to longer wait times for customers.
At DatXanh, we prioritize customer care, especially during product launches when the demand is high Our team members often handle multiple customers in a single day, which can lead to stress and discomfort in the workplace It’s essential to remain attentive to our clients despite the challenges, ensuring a positive experience for everyone.
DatXanh recognizes that customers come from diverse backgrounds and possess varying tastes However, the company typically concentrates on promoting a specific product at any given time, which may limit its ability to cater to the unique interests of every individual customer.
9 Same chart 4.2, there are 3 variables, which are estimated by customers, have highest average quality (from 4.30 to 4.54) with minor fluctuation limit (from 0.70 to 0.96) Those three variables are:
The survey results indicate that customers place a strong emphasis on three key factors: modern facilities (mean = 4.54, Stdev = 0.72), purchasing the best products (mean = 4.32, Stdev = 0.96), and the presence of a clean trade zone (mean = 4.30, Stdev = 0.7).
According to the survey on customer satisfaction regarding the quality of DatXanh real estate brokerage services, 26.32% of respondents rated the service as acceptable or below, while 43.27% expressed agreement with the service quality, and 30.42% rated it as absolutely satisfactory These findings are detailed in Table 4-3 of the study.
Table 4-3 Chart of Fluctuation Quality of Variable SAT01
In short, almost variables of measure in DatXanh is evaluated medium, passably (from 2.94 to 4.54) standard deviation from 0.70 to 1.3 and satisfy conditions to the next steps of analysis.
Estimating the Measure
The measures are preliminary estimated by two: coefficient Cronbach alpha1 and EFA (Exploratory Factor Analysis)
The Cronbach's alpha coefficient is a statistical test used to evaluate the correlation between variables in a measurement scale, helping to determine the reliability of the measure Variables with a correlation coefficient below 0.30 are typically excluded from analysis A measurement is considered reliable when it achieves a Cronbach's alpha greater than 0.6, as established by Nunnally and Bernstein in 1994.
After evaluating measures for reliability, the author employs Exploratory Factor Analysis (EFA) using the Principal Axis Factoring extraction method and Promax rotation to assess a new set of correlation variables for regression analysis Variables with factor loadings below 0.4 will be discarded, although some may be retained if they hold significant real-world relevance, and the extraction process will continue until factors with eigenvalues below 1 are reached.
1 Measure is accepted when sum extraction variance equal or larger than 50% (Gerbing& Anderson 1988)
To assessing the reliability of the measure, author base on result of coefficient Cronbach alpha in chart 4.4 and concludes:
Confident factor has coefficient Cronbach alpha 0.79>0.6 and variable has total correlation coefficient 0.3 So these factor variables are accepted in the next EFA
Prestige factor has coefficient Cronbach alpha 0.815 and variable ASS13 has total correlation coefficient 0.494 (TRU26) So, variables in this factor are accepted in next
The satisfaction factor demonstrates a strong reliability with a Cronbach's alpha of 0.859 The correlation coefficients for the measuring variables range from a minimum of 0.650 (SAT02) to a maximum of 0.800 (SAT03), indicating consistent customer valuation of these variables Consequently, these factor variables are deemed suitable for inclusion in the subsequent Exploratory Factor Analysis (EFA).
We conduct a reliable factor analysis after eliminating waste variables This analysis is valid when the KMO (Kaiser-Meyer-Olkin) coefficient exceeds 0.5, indicating that the general correlation matrix is not uniform, suggesting that the variables are interconnected Any loading factor below 0.4 is discarded, and the process continues until the eigenvalue exceeds 1, ensuring that the total extraction variance is greater than 50%.
To effectively analyze the pooled variance of observed variables and their influences, we employ Principal Axis Factoring with Promax rotation This method minimizes the number of variables needed for explanation while providing clear insights into their relationships.
Step 1 (appendix 3): Analyse the combination of 22 observe variables The result:
The KMO coefficient is 0.805, with a significance level of 0.00 in Bartlett’s test, indicating that the null hypothesis of a uniform correlation matrix is rejected This suggests that the variables are interrelated and meet the necessary conditions for factor analysis.
9 There are 6 extracted factors and 1 variable has factor loading < 0.4 (RES07) Therefore RES07 will be discarded in next analysis
Step 2 (Table 4-5): Analyse the rest 21 combinations of variables after discarded 1 substandard variable The result:
9 KMO coefficient = 0.803 at sigma level 0.00, therefore it satisfy for analysis factor;
The analysis identified six extracted factors with a total variance of 65.104% Although TRU26, which measures customer confidence in service quality, has a factor loading of 0.396 (below the 0.4 threshold), in-depth interviews with managers and customers revealed that trust in service quality is a critical factor for customers trading with DatXanh Consequently, TRU26 is retained for further analysis despite its lower loading factor.
The combination of reliability and prestige with factors ASS12, EMP14, and EMP15 forms a unified Trust factor for DatXanh Agency, indicating that customers perceive these elements as a single valued norm This integration suggests that DatXanh consistently fulfills promises (REL01), provides trustworthy product advice (REL02), and assures customers they are purchasing the best products (REL03) Additionally, the agency's knowledgeable staff (ASS12), prompt complaint resolution (EMP14), and personalized attention to customer interests (EMP15) enhance this perception The brand's reputation is further supported by its recognition in the real estate sector (TRU27), the presence of top-ranking experts (TRU28), and a strong team of proficient brokers (TRU29) Together, these factors solidify DatXanh's reliability and prestige in the market.
DatXanh ensures a seamless experience by consistently meeting customer demands with their products, minimizing wait times for transactions, and facilitating quick processes Additionally, they are committed to delivering real estate on time, reinforcing their reliability and responsiveness in the market.
The Assurance and variable TRU26 are part of a unified group that includes ASS11, which instills confidence in clients, and TRU26, ensuring a secure transaction experience at DatXanh.
9 The Empathy concludes two variables: EMP16 (DatXanh’s staff always treats Mr /Ms kindly and share with you), EMP17 (our staff also cares about you as well)
9 The Tangibility consists of the variables: TAN20 (the clean trading area), TAN21 (the airy transaction area)
The price of real estate at DatXanh is influenced by two key factors: PRI24, which assesses the reasonableness of the property price in relation to what Mr./Ms can afford, and PRI25, which ensures that the real estate price aligns with your budget.
9 The coefficient Cronbach Alpha of six extracted factor in step 4 which is recalculated (Table4-5) satisfies the Reliability’s condition (>0.60)
Table 4-5 Result of Combination Factor Analysis
Extraction Method: Principal Axis Factoring Rotation Method: Promax with Kaiser Normalization a Rotation converged in 7 iterations
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .803
Bartlett's Test of Sphericity Approx Chi-Square 2404.241 df 210
The Official Research Model
The analysis indicates that customer satisfaction regarding service quality at DatXanh trading floor is influenced by six key factors: Reliability, Assurance, Empathy, Tangibility, Price, and Trust Consequently, the initial proposed model has been revised accordingly.
Figure 4-1 The Performing Research Model
H1: Assessment of customers on brand reputation is high will increase their level of satisfaction
H2: Assessment of customers on response is high will increase their level of satisfaction
H3: Assessment of customers on security is high will increase their level of satisfaction
H4: Assessment of customers on sympathy is high will increase their level of satisfaction
H5: Assessment of customers on tangibility is high will their level of satisfaction H6: Assessment of customers’ onprice is high will their level of satisfaction.
Testing Model
We extracted six key factors and created six corresponding variables: F1, F2, F3, F4, F5, and F6 Additionally, we introduced the variable F_SAT, which represents three sub-variables: SAT01, SAT02, and SAT03 The value is determined using a specific formula.
With X is the value of the main variables, k is the variable number in a factor group
To test the linear correlation among the variables: F1, F2, F3, F4, F5, F6, and F_SAT, we calculate correlated coefficient Pearson If these variables closely correlate, we have to notice multicollinearin regression analysis
The result of correlation matrix is displayed in Table 4-6, the author realizes:
The analysis reveals a strong linear correlation between Trust (F1) and both Reliability (F2) and Assurance (F3), with Pearson coefficients of 0.487 and 0.584, respectively This indicates that F1 is independently linked to F2 and F3, suggesting that an increase in Reliability will also enhance Responsiveness and Assurance Furthermore, the correlation between Reliability (F2) and Assurance (F3) is even stronger, with a Pearson coefficient of 0.614.
**Correlation is significant at the 0.01 level (2-tailed)
*Correlation is significant at the 0.05 level (2-tailed)
The Pearson coefficient values for F4, F5, and F6 in relation to other factors range from 0.14 to 0.465, indicating that the linear relationships of Reliability, Tangibility, and Price are weaker compared to other factors.
9 The coefficient Pearson of F_SAT to F1, F3 in turn is 0.907 and 0.522 It shows that the general satisfaction linearly correlates with two factors: Trust (F1) and
9 The remain combinations also correlate linear together (0.2 < Pearson’s coefficient< 0.4)
The analyses above show that variables were eligible to conduct regression analysis with the dependent variable is F_SAT, and independent variable is F1, F2, F3, F4,
F5, and F6 Beside, to pay attention to multi- co linearity problems of variables F1 and F2,
The author conducted a regression analysis to examine the relationships between various components and their impact on customer satisfaction This analysis begins with six independent variables, labeled F1, to determine the specific weight of each component influencing customer satisfaction.
(the brand name), F2 (feedback level), F3 (the Guarantee), F4 (the sympathy), F5
(tangible form), F6 (Cost) and one dependent variable F_SAT (overall satisfy) The analysis is performed by standard method ENTER PIN = 0.05 and out standard POUT 0.1
The regression result in Table 4-7 is showed:
The analysis reveals that six independent variables—brand name (F1), feedback level (F2), guarantee (F3), sympathy (F4), tangible form (F5), and cost (F6)—significantly influence customer satisfaction, with a significance level of 0.0000, which is below the 0.05 threshold.
Std Error of the Estimate
0.909 a 0.826 0.819 0.42321 0.826 129.636 6 164 0.000 a Predictors: (Constant), F6, F5, F2, F3, F4, F1 b Dependent Variable: F_SAT
9 Coefficient R squared adjustment 0.826 The compatible model is 82.6%, or said otherwise with approximately 82.6% false local satisfaction explained by six independent variables
9 Regression equation showed the linear relations between customer’s satisfaction with six components: F1, F2, F3, F4, F5, F6 has meaning in regression method ENTER:
According to the regression equation with important order of components affected to customer’s satisfaction is:
To understand these meanings of the equation above more specific, we can deduct as:
The Brand Reputation element has the highest normalized regression coefficient of 0.268, indicating it significantly impacts customer satisfaction Enhancing this aspect can lead to increased satisfaction among customers investing in real estate at DatXanh Specifically, if other factors remain constant, a one-unit increase in brand reputation correlates with a 0.268 increase in customer satisfaction Therefore, DatXanh should prioritize improving its brand name with targeted strategies to maximize customer satisfaction.
1 Always do the promissory with customer
2 Making customer understanding on productions of DatXanh’s consultancy is the best
3 Selling the best productions for customer
4 The workers of DatXanh have enough experience and knowledge to answer any questions of customer clearly
5 Solving any complain of customer quickly
6 Focusing specially on productions, need of customer
7 Creating good reputation in real estate field
8 Training and recruiting the top professors in business
9 Training and recruiting good mediate employees
The feedback level, with a significance score of 0.262, is the second key element influencing customer satisfaction, following reliability This means that even if other factors remain unchanged, an improvement in feedback level directly correlates with a 0.262 increase in customer satisfaction To enhance overall satisfaction, DatXanh should prioritize substantial investments in improving the feedback level.
1 Always satisfy demands of customer
2 Improving waiting time of customer in turning time to meet employees
4 Exchange real estate in time for customer exactly
The four key elements influencing customer satisfaction are sympathy, cost, tangible form, and guarantee, with standardized regression coefficients of 0.232, 0.189, 0.093, and 0.092, respectively To enhance sympathy, businesses should adopt a thoughtful approach and demonstrate genuine care for their customers For cost, it is essential to offer sensible pricing and improve real estate costs to ensure customer comfort Enhancements in tangible form can be achieved by providing a pleasant environment and ensuring security at exchange locations Lastly, to bolster the guarantee, employees must build trust with customers, reinforcing their confidence in the services offered.
4.4.3 Analysis of false local (ANOVA)
According to this research, the author wants to find out different groups of customers when they come to exchange real estate and whether they feel satisfy or not
To evaluate the difference of customer’s groups, we rely on income of each type of customer ANOVA analysis is worked follow the order:
9 Do Levene test to check false local (variance) with hypothesis H0 is “false local of groups same comparing.”
9 If H 0 is accepted, started to analyze ANOVA with hypothesis H 01 is: “do not have the difference about the satisfaction of customer between customer’s groups comparing”
In case H 01 hypothesis is accepted, the conclusion is not to have the difference about satisfaction between customer’s groups.
On the contrary, if H01 hypothesis is denied, this means the difference about satisfaction of customer’s groups being examining
9 If H0 is denied, start to verify nonparametric Kruskal- Wallis replacing for ANOVA
The analytical result (appendix 5) shows the Levene Test has sig.= 0.117 >0.05, so hypothesis H0 is accepted.ANOVA analysis results (see Appendix 5) indicates sig
0229 => 0.05, F = 1233 Therefore, our conclusions is there have many differences about your satisfaction between groups of customers with different income to transact real property at the Green Land (at the rate 0.05)
4.4.4 Verify the hypothesis of the model
Regression analysis identified six key components influencing client satisfaction: Brand reputation (F1) with a regression coefficient of 0.238 and a significance level of 0.00, Feedback levels (F2) at 0.248 with a significance of 0.001, Guarantee (F3) at 0.098 with a significance of 0.035, Sympathy (F4) at 0.228 with a significance of 0.002, and Tangibility (F5) at 0.126 with a significance of 0.027.
Price (F6, regression coefficient 0.190 at the meaning rate sig = 0.004) So the hypothesis as H1, H2, H3, H4, H5 and H6 are supported (Table 4-8)
Table 4-8 The Collective Table of Test Results
Hypothesis Hypotheses Enunciation Test Results
H1 The higher client's estimation about Brand Reputation, the more increasing their satisfaction Support
H2 The higher client's estimation about Feedback Level, the more increasing their satisfaction Support
H3 The higher client's estimation about Guarantee, the more increasing their satisfaction Support
H4 The higher client's estimation about Sympathy, the more increasing their satisfaction Support
H5 The higher client's estimation about visibleness, the more increasing their satisfaction Support
H6 The higher client's estimation about Price, the more increasing their satisfaction Support
4.4.5 Assess the level of customer satisfaction
We evaluate the factors influencing customer satisfaction to determine their perceived levels, whether high or low This assessment allows us to enhance these factors effectively, even with limited transaction resources Statistical results from the integrated values indicate significant insights into customer satisfaction levels.
Table 4-9 Statistical Integrated Variables Value Table
Factor Min Max Mean Stdev
9 Brand reputation: To be valued at fairly average level (mean = 3958) with values from low to very high, min = 2.0, max = 5, and the standards deviation is quiet small
Analytic regression indicates that brand reputation significantly influences customer satisfaction, with a one-unit increase potentially raising satisfaction levels by 1064 times, assuming other factors remain unchanged However, current customer valuation of these factors is relatively low (mean = 3958) Consequently, it is essential for centers to enhance these factors to boost customer satisfaction effectively.
The feedback level is assessed at a fairly average mean of 3.53, with values ranging from very low (1) to very high (5) and a small standard deviation of 0.867 Analytic regression indicates that feedback level is the second most significant factor in the model, highlighting that customers' estimations have not reached high levels.
9 Assurance: To be valued at fairly average level (mean = 3827) with values from very low to very high, min = 1.5, max = 5, and the standards deviation is quiet small
Analytic regression indicates that assurance has a limited effect on customer satisfaction, with customer perceptions of these factors averaging a low score of 3.827 To enhance customer satisfaction, Floor transactions should focus on improving these key factors.
Sympathy is assessed at a neutral level with a mean score of 3.62, indicating a range of values from low to very high (min = 1, max = 5) and a small standard deviation of 0.958 Analytic regression reveals that sympathy significantly influences customer satisfaction within the model To enhance customer satisfaction, Floor transaction should focus on improving these factors.
Tangibility is evaluated at a high level, with an average score of 4.292, ranging from low to very high (minimum = 1, maximum = 5), and a small standard deviation of 0.666 Consequently, floor transactions should focus on maintaining and enhancing these factors to foster better trends.
Significance Andconclusion
Summary the Research Topic
The purpose of this research is finding, adjusting aspects of services quality at DatXanh real estate post and measuring customer’s satisfaction as trading real estate in this post
According to the author’s assessment, three original goals have been solved:
1 To identify the impact factors and the relative important level of the factors effect on the customer’s satisfaction against overhaul and treatment services at DatXanh real estate post
2 To evaluate the customer’s satisfaction when they’re using the real estate agency service at DatXanh
3 Requesting to make the quality of service better
Chapter two outlines the theoretical foundation and model, highlighting three primary factors that influence customer satisfaction: service quality, price, and brand reputation Service quality encompasses five key elements, including reliability.
Responsiveness, Assurance, Empathy, Tangibility In chapter 2, the initial model has 7 factors impact to the customer’s satisfaction: Reliability, Responsiveness, Assurance, Empathy, Tangibility, price and brand’s reputation
Chapter 3 focus on presenting the methods used for researching, including 2 main steps: (1) Preliminary research and (2) Official research Preliminary research use quantitative methods with direct discusstechnique through a prepared outline This step determine what the customer expected when they trading real estate at DatXanh As a customers, what factors make them satisfied when they coming to DatXanh? From there, adding and editing the scale, research model and then building a question table for official research Official research is made by quantitative methods with interviewing customer directly technique through a question table when they trading real estate at DatXanh with valid sample size collected is n1 The scale’s reliability is evaluated by Cronbach
Alpha, analyzed EFA’s factor After that, analyze multivariate regression, test theoretical model and hypothesis
Specific results of official research are explained in chapter 4
Chapter 5 is the last part of the essay In that chapter, the author present significance and conclusions include 3 main parts: (1) Summary the research topic, (2) Results and contributions of research, (3) The restrictions of this research and suggestion for the next one.
Results and Contributions of Research
5.2.1 Scales measuring quality of services in DatXanh’s real estate post
Researchers indicate that Parasuraman's service quality scale comprises five components with 21 observed variances, which may lack consistency across different service types and research environments, such as culture and geography Consequently, when applying this measurement scale to specific services, it may require additional unique variances or the elimination of some to create a more appropriate scale Findings suggest that the quality of examination and treatment services consists of four key components: (1) Responsiveness, (2) Assurance, (3) Empathy, and (4) Tangibility Notably, the components of price and brand reputation in the Servqual scale do not exhibit significant distinction; while theoretically separate, in the context of real estate agency services at DatXanh, they merge into a unified concept termed brand reputation.
So that the scale measures agent real estate service’s quality include: (1) Responsiveness, (2) Assurance, (3) Empathy, (4)Tangibility
Research indicates that customers assess the price component of real estate services through two key factors: the appropriateness of the product's price and the overall suitability of the price for the service offered.
Brand’s reputation scale is considered as a general assessment of customers to suppliers However, depend on the service type and research’s environment so that we make a suitable addition
Research indicates that in the realm of real estate services, the reliability and brand reputation components of the Servqual scale do not stand out significantly While theoretically distinct, in practice at DatXanh, these elements merge into a singular concept known as brand reputation Customers assess this reputation through nine key factors: (1) staff's ability to consult on needed products, (2) prompt resolution of complaints, (3) fulfillment of promises, (4) staff's clear knowledge in addressing customer inquiries, (5) the presence of top experts at DatXanh, (6) quality of consulting services, (7) the competence of DatXanh staff, (8) the overall good reputation of DatXanh, and (9) customer confidence in the quality of products purchased.
The satisfaction of customers to agency real estate services quality is effected by 6 main factors: (1) Responsiveness, (2) Assurance, (3) Empathy, (4) Tangibility
In practical, result of research provided DatXanh real estate post’s administrator for a detail view about aspects below:
9 Serve quality of DatXanh is evaluated by customers in recent
9 Prices impact on the customers’ satisfaction as trading real estate at DatXanh
9 The Brand’s reputation impacts on the customers’ satisfaction as trading real estate at DatXanh
To enhance customer satisfaction, nine key factors must be improved Additionally, the preliminary research findings provide DatXanh with a valuable tool for measuring service quality over specific periods.
In addition, this result will be useful information to DatXanh’s administrators for better strategic activities
Limits and Next Research Directions
Besides the contributions, there are some limitations in this research:
9 Because this research only surveyed on DatXanh’s customers in a short period in HCM city, so the general of research isn’t good
This research employs regressive analysis to explore the cause-and-effect relationship between quality components, pricing, and customer satisfaction However, it falls short in defining the interplay between service quality and pricing, as well as the relationships among various quality components Consequently, the findings may not accurately represent these relationships Future studies utilizing more advanced data collection methods and larger sample sizes could yield more comprehensive results.
9 To set up a measure scale in real estate trading post in Viet Nam, this is necessary to repeat the same research for them in all part of Viet Nam
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