In this digital age, many real estate professionals have questioned how consumers find real estate agents. It is a popular opinion among agents that social media and real estate portal sites like Zillow and Redfin have dramatically changed the agent search process for buyers and sellers.
Although there are countless places to find real estate agents online, consumers say they still rely on their personal network and referrals. In a recent study, most buyers and sellers said they only use portals like Zillow and Redfin to search for properties, not agents.
- Buyers and sellers mainly rely on their personal network and referrals to find real estate agents, according to a recent study
- Real estate portals like Zillow and Redfin had little effect on respondents’ agent selection process
- Clients care most about market knowledge, engagement level, honesty, and accessibility
- Communications issues and a lack of urgency are the biggest deal-breakers for clients today
We recently hired a third-party research company to interview anonymous buyers and sellers who bought or sold property, worth between $300,000 to $1.5 Million, within the past 12 months. The participants were asked a series of questions over an hour-long interview to help us better understand their habits, opinions, and decision-making processes.
We were particularly interested in finding out how buyers and sellers choose their real estate agents in this digital age. Here’s what we found out:
People don’t choose Realtors on portal sites
One of the most interesting observations in the market research results was that buyers and sellers are actively using portal websites to explore properties, but they don’t use those same portals to find real estate agents. In fact, respondents saw no connection between portal sites and agent selection.
The criteria your potential clients care about
Once buyers and sellers have a real estate agent in mind, knowing whether they like an agent is the number one requirement for working together. Respondents were also highly interested in agent track records, which were often evaluated online—not in person. (Add those sales numbers to your site!) In addition, the size of an agent’s brokerage or the quality of their website also factored into the equation for some people.
Other important decision-making criteria include:
- Market knowledge
- Engagement level
And the deal-breakers?
- Communication issues
- Lack of care or urgency
View the cpmplete article at Real Estate Webmasters