Do you measure up? The National Association of Realtors' latest buyer-seller survey suggests that buyers have certain expectations of their agents.
Nearly 60 percent of buyers want their real estate professional to help them find the right home, with 10 percent wanting help with negotiations, 10 percent wanting help with paperwork, nine percent wanting comparables, and the rest wanting help with determining how much home to buy, finding and arranging financing and finding renters for the buyer's property.
Buyer's chose their agents primarily on reputation (41 percent) and their knowledge of the neighborhood second (24 percent).
Buyers wanted their agents to have the following qualities:
- Knowledge of the purchase process (94 percent of buyers considered this "very important")
- Responsiveness (93 percent)
- Knowledge of the real estate market (92 percent)
- Communication skills (82 percent)
- Negotiation skills (82 percent)
- People skills (80 percent)
- Knowledge of local area (79 percent)
- Skills with technology (40 percent)
In 2005, 43 percent of all buyers worked with their agents via written agreements, up from 42 percent in 2004. Buyer's agents also worked less often by oral agreement (20 percent in 2005, 22 percent in 2004).
Buyers rated their agents according to satisfaction levels:
- Knowledge of purchase process -- 83 percent were very satisfied
- Knowledge of the real estate market -- 81 percent, very satisfied
- Knowledge of local area -- 78 percent, very satisfied
- Communication skills -- 76 percent, very satisfied
- Responsiveness -- 78 percent, very satisfied
- People skills -- 79 percent, very satisfied
- Skills with technology -- 68 percent, very satisfied
- Negotiation skills -- 68 percent, very satisfied
Overall, two-thirds of buyers said they would "definitely" use their agents again. Buyer's who used a buyer's representative were much more likely to be satisfied with their agent's performance.
Published: January 25, 2006
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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.
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In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.
Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.
 Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR
"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors
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