Research - Challenges of NOT Using a Realtor

Posted by David Bennett Wed, 07 Jun 2006 13:45:00 GMT

Among those consumers surveyed who did not use a Realtor to assist them in home buying or selling, the following were considering the most challenging aspects of the real estate transaction:

  • 16% - Preparing for and conducting the closing
  • 15% - Understanding the contract
  • 12% - Disclosures
  •   8%  - Determining price
  •   7%  - Negotiations
  •   6%  - Showing or Viewing Properties
  •   4%  - Marketing

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Research - Most Important Services Realtors Provide

Posted by David Bennett Wed, 07 Jun 2006 13:51:00 GMT

Consumers ranked the following services provided by Realtors as being most important to them:

  • 55% - Assistance in ensuring laws and regulations are followed
  • 52% - Representing them during the transaction
  • 52% - Protecting them from potential problems
  • 49% - Assistance in marketing their home or in finding a home
  • 46% - Providing information on the buying or selling process
  • 36% - Negotiating the best price and terms of sale
  • 35% - Setting the price for the sale (sellers) and determining what is affordable (buyers)

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Research - Quality and Service Rating

Posted by David Bennett Wed, 07 Jun 2006 13:29:00 GMT

  • Most people find Realtors to be honest but they want full disclosure at every step of the process.
  • Quality of service:
    • 29% said they received high quality service
    • 61% said they received average quality service
    • 10% said they received poor quality service
  • When consumers were asked to consider that real estate transaction is a complicated process involving legal issues, pricing and negotiations, 70% said they believe it is good to have a professional at their side.
  • Among those who had used a Realtor to buy or sell a home, 65.2% said their services met or exceeded their expectations.  However 20% said their expectations were not met.
  • The consumers surveyed said they value a Realtor’s expertise in legal and contractual issues and in their ability to protect their customers in most situations.

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Use existing research

Posted by David Bennett Wed, 14 Jun 2006 17:31:00 GMT

Listen, listen and listen. That’s it, in a nutshell. Your past customers want you to listen, and your future customers want you to listen. They want you to tune in and hear what is on their minds.
 
There are a number of ways in which you can listen to what consumers are saying. Review the survey results from NAR, CAR, RECON and leading consultants.
 
There is a wealth of research available on what buyers and sellers have been saying. Take advantage of the work that has been done and make this your starting point.

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