Every year, competition in the real estate industry gets tougher. Agents struggle to generate leads and technology is constantly evolving. So real estate professionals are trying hard to do better but what exactly does “better” mean from a customer’s standpoint? Let’s explore.
Below is a recap of the things people want from their agent as discovered by the Redfin‘s survey of 1,000 home buyers and sellers.
What exactly do people want from their agent?
Both buyers and sellers
1. 69% of people said they’re open to working with an innovative agent rather than a traditional one; just 15% are willing to work with a traditional agent.
Takeaway: agents with a website and an actionable online marketing strategy have a broader reach compared to what traditional local advertising can deliver. So it’s clear most people would favor realtors who can offer them a new home buying or selling experience which is usually more empowering for them than a traditional one.
2. 62% of people want lower fees; 22% say lower fees make them anxious about the quality of service.
Takeaway: to reduce their fees, agents need to become more tech-savvy. For example, they can use an integrated CRM instead of several separate tools or launch a Facebook ad campaign instead of buying expensive ad space in print outlets.
3. 57% think technology their realtor is using is important; 31% believe the quality of the agent matters more than technology.
Takeaway: most real estate clients and their peers are well familiar with modern technology and want it to be part of the home buying or selling process. This includes real estate websites, social media, messaging, etc.
What do buyers want from their agent?
1. 47% of buyers think responsiveness is the most important factor they would consider in favor of a particular agent. In fact, they believe it’s more important than professional accolades and local expertise.
Takeaway: this is a good reminder of how essential your lead response time are. Arm yourself with a CRM that would automatically add leads to your database, set up alerts and reminders and automate messages. Above all, get in touch personally asap.
2. 16% wish their agent fought harder for them and 13% wish their agent were a better advisor.
Takeaway: this is where you need to showcase your expertise: provide accurate market reports, refer clients to a reputable mortgage broker or renovator, etc. Remember that your real estate blog and newsletter campaigns are the best way to educate leads.
What do sellers want from their agent?
1. 44% of people want their agents to have experience in selling homes similar to the ones they own.
Takeaway: for most of the sellers, responsiveness is a secondary factor but if you can provide both expertise and quick response times, that clearly helps you stand out from the competition.
2. 19% of sellers wish their agent pursued their interests harder and could utilize digital marketing more efficiently.
Takeaway: if you use online marketing tactics, you’re viewed as a more dedicated professional. Here’s more information on various real estate online marketing strategies. Again, keep in mind that blogging is extremely valuable when it comes to educating leads and providing real expertise.