Forget the ad noise you might hear about the importance of real estate agents being past tense. A recent survey sponsored by Century 21and conducted by Wakefield Research indicates that the majority of homebuyers and sellers value their real estate agent more than they value their therapist.
Survey participants responded that homebuyers and sellers confide in their real estate agents more than they confide in their therapists. They also responded they know their agents better than they know their neighbors.
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Despite interviewing only two real estate agents before deciding upon the “one” to best represent their real estate goals, a nearly unanimous 99% of homebuyers said their chosen one added value to their home transaction. Additionally,
- 73% of sellers said their agent helped their transaction due to their market knowledge.
- 72% of sellers said their agent offered them valuable advise and counsel.
- 53% of sellers said their agent helped them circumnavigate the stress caused by the act of selling their home.
60% of homebuyers reported that their real estate agent went “above and beyond” their expectations.
- 31% of buyers said their agents took them out for a meal or a drink.
- 29% of buyers said their agents invited them to a social event.
- 13% of buyers reported that their agents helped them out personally by running errands on their behalf.
Here are two vantage points about this latest survey regarding the value of real estate agents:
One…Mike Miedler, president and CEO of Century 21 advises real estate consumers to essentially take their time in choosing their agents by thoroughly vetting them in order to find “the right one.” Miedler said, “Defying mediocrity that still exists in the real estate industry is a major part of our mission and every potential homebuyer or seller should be extremely selective in whom they entrust to shepherd them through this complicated process.”
Two…be the real estate agent who, in fact, has superior market knowledge so you can best advise your potential client about the current and immediate past state of your local market, comparative pricings, sales histories of particular properties that may meet the needs and goals of your prospect and an agent who has developed a network of highly competent, trustworthy professionals (inspectors, lenders, appraisers, contractors, subcontractors, etc.) your prospect may need in order to actualize a transaction that makes sense for their goals.
Be the agent who goes the extra mile on behalf of your client so your client can and will report that your expertise and services rendered go beyond their expectations.
Thanks to HousingWire’s Julie Falcon for source data.
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