What key factors do home buyers prioritize when selecting a real estate agent?
Home buyers consistently prioritize key factors when selecting a real estate agent, with experience (15-20%), honesty and trustworthiness (14-21%), as well as the agent’s reputation (12-25%) standing out as crucial considerations.
Additional noteworthy factors also influence the decision-making process. Attributes such as the agent’s caring personality, personal connections (being a friend or family member), and their knowledge of the neighborhood play a considerable role.
What’s interesting is that contrary to a common belief amongst real estate professionals, the prestige of a big-name broker holds much less weight (0-3%) in the decision-making process compared to the more personal and experiential attributes of the agent.
What key factors do home sellers prioritize when selecting a real estate agent?
Similarly, home sellers prioritize reputation (26-40%), honesty and trustworthiness (14-33%), and being a friend or family member (11-22%) as pivotal considerations.
In-depth knowledge of the neighborhood, a caring personality, and flexibility in commission rates play substantial roles in influencing their choice.
Not surprisingly, and similar to home buyers, a big-name broker does not play an important part in the selection process (1-5%).
What should real estate agents focus on?
These findings underscore the enduring significance of trust, experience, and reputation in the real estate industry and remain universally significant across all age groups. Real estate agents should focus on these factors vs. which firm name is on their business cards—the numbers back that up.
For a real estate professional, choosing a reputable brokerage that provides the ability to offer clients more flexibility, value, and creative options is key to a successful real estate business. At Worth Clark Realty, we pride ourselves on delivering this to our Realtors®.
This information was taken from the 2023 NAR Home Buyers and Sellers Generational Trends. Since 2013, the National Association of Realtors® has produced the Home Buyers and Sellers Generational Trends Report. This report provides insights into differences and similarities across generations of home buyers and sellers.
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