J.D. Power and Associates Reports: Daytona Homes Ranks Highest in Satisfying Buyers of New Multi-Family Homes in the Edmonton Market



    TORONTO, Sept. 20 /CNW/ - Daytona Homes ranks highest in satisfying
buyers of newly built condominiums and townhomes in Edmonton, according to the
J.D. Power and Associates 2008 Alberta Multi-Family New-Home Builder Customer
Satisfaction Study(SM) released today in association with The Alberta New Home
Warranty Program.
    Conducted in the province of Alberta for the first time in 2008, the
study measures new-home buyer satisfaction throughout the entire purchase and
early ownership experience among builders who are members of The Alberta New
Home Warranty Program. In the study, buyers are asked to evaluate their
builder in eight factors. In order of importance, they are: service/warranty
staff; home/building readiness; sales process/staff; workmanship/materials;
building/shared features; price/value; physical design; and design process.
J.D. Power and Associates also conducts a single-family new-home builder study
in Alberta.
    Daytona Homes ranks highest in new-home buyer satisfaction in the
Edmonton multi-family market with an index score of 682, performing
particularly well in five of the eight factors that contribute to overall
satisfaction: service/warranty staff; sales process/staff;
workmanship/materials; price/value; and design process.
    "We congratulate the highest ranked builder members and commend them for
a job well done," said Schuyler Wensel, president and CEO of The Alberta New
Home Warranty Program. "We believe that the true value of the customer
satisfaction study lies in the knowledge it provides to both home buyers and
our builder members. This knowledge allows them to make better and more
informed decisions."
    The study finds that overall customer satisfaction with new condominiums
and townhomes in the Edmonton area averages 600 on a 1,000-point scale.
    "Alberta new-home builders should view 2008 as a benchmark year to
understand how well they meet the needs and expectations of their customers
and how best they can realign their operational processes," said Marc
Thibault, senior manager of the real estate practice at the Canadian office of
J.D. Power and Associates.
    The study finds that overall new-home buyer satisfaction has a
particularly strong impact on the likelihood of customers to recommend their
builder to a friend, relative or colleague. Buyers who report being
"delighted" with their experience make more than four times the number of
positive recommendations as buyers who say they are "indifferent" about their
home-buying experience.
    "When prospective buyers are in the market for a new home, they often
look to a trusted source to assist with their decision-making process, and
builder referrals are a key source of information," said Thibault. "In many
cases, buyers tend to purchase from builders with a track record of high
customer satisfaction performance, so testimonials provide consumers with the
confidence they need to make one of the most significant financial decisions
of their lives. In the future, buyers also will have access to Power Circle
Ratings on the Web sites of both J.D. Power and Associates and The Alberta New
Home Warranty Program, which will provide indicators of a builder's customer
satisfaction performance to further assist with their difficult decision."
    On average, Edmonton new condominiums and townhomes are delivered with 16
construction deficiencies per home. Slightly more than one in 10 new
multi-family homes (12%) in Edmonton are delivered defect-free.
    "Builders that increase quality assurance efforts and emphasize producing
defect-free homes can expect to reap both short- and long-term benefits, such
as decreased repair costs and positive word-of-mouth throughout the
marketplace," said Thibault. "This approach is a particularly efficient way
for builders to run their businesses. Not only are home buyers satisfied at
the point of delivery, but eliminating defects also puts much less demand on
builder warranty service teams."
    The study also finds that when problems do arise, new-home owners are
most satisfied with builders that respond to issues in a timely manner and
provide efficient service by coordinating completion of multiple repairs on
the same visit.
    "Builders with the most highly satisfied customers work closely with
their trade partners to schedule service that minimizes inconvenience and
aggravation for the home owner," said Thibault. "These builders also carefully
analyze their construction deficiencies and repair records to uncover the root
causes of problems. They understand the goal is not to achieve proficiency in
fixing problems but to prevent them in the first place."
    The 2008 Alberta Multi-Family New-Home Builder Customer Satisfaction
Study is based on responses from 978 buyers within the Province of Alberta who
purchased newly built condominiums and townhomes. The study was fielded from
July 2007 to July 2008. For comprehensive information on Alberta, GTA and
Ottawa-Carleton builders, visit the J.D. Power Consumer Centre at
www.jdpower.com/canada.

    About The Alberta New Home Warranty Program

    The Alberta New Home Warranty Program was established in 1974 by Alberta
home builders to provide a package of warranty protections and encourage
improved performance for the new-home building industry. In addition to
providing warranty services, The Program offers its Builder Members an array
of tools and services to enhance their expertise and supports the relationship
between Builder Members and their home buyers. The Program has over 700
Builder Members who are committed to the business of home building. Additional
information and a complete list of participating builders can be found at
www.albertanewhomewarranty.com.

    About J.D. Power and Associates

    Headquartered in Westlake Village, Calif., J.D. Power and Associates is a
global marketing information services company operating in key business
sectors including market research, forecasting, performance improvement,
training and customer satisfaction. The company's quality and satisfaction
measurements are based on responses from millions of consumers annually. J.D.
Power and Associates is a business unit of The McGraw-Hill Companies.

    About The McGraw-Hill Companies

    Founded in 1888, The McGraw-Hill Companies (NYSE:   MHP) is a leading
global information services provider meeting worldwide needs in the financial
services, education and business information markets through leading brands
such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power
and Associates. The Corporation has more than 280 offices in 40 countries.
Sales in 2007 were $6.8 billion. Additional information is available at
http://www.mcgraw-hill.com.

    
    No advertising or other promotional use can be made of the information in
    this release without the express prior written consent of J.D. Power and
    Associates. www.jdpower.com/corporate

    NOTE: Overall Satisfaction Index Ranking for Edmonton available on
    request.
    





For further information:

For further information: Media Relations Contacts: Trevor Beckman, Cohn
& Wolfe, Calgary, Alberta, (403) 228-6688, trevor.beckman@cohnwolfe.ca;
Syvetril Perryman, J.D. Power and Associates, Westlake Village, Calif., (805)
418-8103, syvetril.perryman@jdpa.com

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