Just wanted to share a few more interesting items from the NAR 2011 Profile of Home Buyers and Sellers.
How Sellers found their agent?
1. Referred by Friend, neighbour or relative 39%
2. Used agent previously to buy or sell home 22%
3. Referred through employer or relocation company 5%
4. Prospecting efforts of agent 4%
5. Saw open house or For Sale sign 4%
6. Visited open house and met agent 45
7. Referred by another agent 4%
8. Internet/website 3%
9. Direct mail
10. Walked into Real Estate office 1%
Number of agents contacted before selecting one to assist with sale of home
66% -contacted only one agent
16% -contacted/met with two agents
13% -met/contacted three agents
3% -met/contacted four agents
2% -contacted 5 or more
What sellers want the most from Real Estate Agents by level of service provided by Agent
1. Help Seller market home to potential buyers 24%
2. Help price home competitively 20%
3. Help sell within specific time frame 19%
4. Help find buyer for home 19%
5. help seller find ways to fix up and stage home 95
6. Help with price negotiations 5%
7. Help with paperwork 3%
Most important factor when choosing an Real Estate Agent
1. Reputation of agent 38%
2. Agent is honest and trustworthy 20%
3. Agent is friend or family member 18%
4. Agent’s knowledge of the neighborhood 11%
5. Agent’s association with a particular firm 5%
6. Agent has caring personality/good listener 4%
7. Professional designations held by agent 1%
The research shows that Sellers want to work with a Realtor that they already know, was referred too, or worked with previously. They also want to work with an agent that is honest, trustworthy, knowledgeable, and is a good listener. They do not really care which company their Realtor works for, as they choose agents… not companies.
The world would be a better place if our colleagues understood what Buyers and Sellers really want from a Real Estate Agent. Then, they seek out and learn the proper skills, knowledge and training, in order to deliver this at a really high level .
I would love to hear your feedback.
Have a great day!
Keller Williams Referred Realty