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.
