BNN Services is proud to have an A+ Rating from the Better Business Bureau (BBB). Perhaps you’ve seen other businesses tout their good ratings as well. But what do they mean? How prestigious are they? And what exactly sets companies that receive A+ Ratings apart from the rest. You’re in the right place to find out!
The Better Business Bureau: A Short History
The BBB has an impressive 100-year history of protecting consumers, regulating businesses, and strengthening marketplace trust. Founded in 1912, this non-governmental, nonprofit consists of over 110 independent chapters throughout America and Canada, with an international headquarters in Arlington, VA.
In addition to its active work in mediating disputes between organizations and customers, handling over 850,000 cases per year, the BBB also maintains a nationwide database of letter-grade (A+ through F) business ratings to allow consumers to make informed choices on their purchase habits. The organization’s website states that these ratings are based on information the Bureau can obtain about the business, including public complaints and adherence to the Code of Business Practices. But what are the specific factors considered when these ratings are assigned?
BBB Ratings: The Formula
The BBB’s rating system consists of a proprietary formula that weighs 17 different factors. Many of these factors are quantitative (i.e., measurable and systematic), such as the business’s field of operation, its length of existence, professional licensing, and the total number of formal complaints (adjusted by an overall number of customers served). Other examples include the number of complaints whose resolution was delayed or dropped, government sanctions, and a sustained failure to address complaints. The other ranking factors are more qualitative and up to BBB regulators’ judgment, such as the relative severity of the complaints, truthfulness in the business’s advertising policies, and the extent and quality of available background information.
In almost all cases, the BBB rating is driven by consumer feedback (specifically that of complaint history). While the 17 factors are each separate and discrete, they are weighted differently. Ultimately, nearly 85% of the final score is determined by the Bureau’s verification and evaluation of customer complaints, as well as the business’s proficiency in resolving them.
A+ BBB Ratings: An Indicator of Excellence
A business to receive an A+ rating will exhibit consistently excellent customer service and proactive dedication to resolving any problems. As mentioned, this consumer care portfolio is the single most crucial factor in determining the final grade. Other “bonus” factors can also work in a business’s favor, such as length of operation (indicating experience and trustworthiness), professional accreditation on the part of the staff or overall company (demonstrating proficiency in its chosen field of industry), and willingness to make information publicly available (indicating confidence in its operational integrity).
A Better Way to Close with BNN Services
Since 2008, BNN Services has been trusted by title agencies, mortgage lenders, servicers, and consumers to perform loan and document signings in multiple languages across the country.
Unlike other signing services, BNN Services “touches” every file 8 or 9 times to ensure the process moves forward free of delays. That’s why we’ve completed over 250,000 signings in all 51 jurisdictions and maintained a closing ratio of 96 percent.
Ready to experience the BNN Services difference? Get started today!