Research "How people choosing REALTORS?"

Asked by Vadim Marusin, Blaine, WA Wed Aug 15, 2012

Is there any researches available of how exactly clients choosing REALTORS? What criteria is more important? What percentage of people are really choosing REALTORS and not just asking their friends for referrals?
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6
Ray Akers, Agent, Seattle, WA
Wed Aug 15, 2012
One of the most comprehensive studies about real estate agents was done by Baylor University. The study indicated that the number one quality people seek in a real estate agent is experience. These days, people want an agent that can provide services and referrals for all aspects of a real estate transaction, from home inspectors to lenders to contractors for home repairs. People increasingly want agents that utilize the latest technology. Recent data shows that the Millennial generation trusts on-line agent reviews more than they trust referrals from family and friends. These days, about 98% of people begin their search for real estate on-line. It's increasingly important for agents to have a fully-developed on-line profile.
1 vote
Try this link: http://www.newswise.com/articles/three-factors-influence-choice-of-real-estate-agents

Baylor issues quarterly reports on the real estate industry. You'll find lots of good information here.
Flag Thu Aug 16, 2012
Thank you! Could you give the link to this research. I found only this - http://www.baylor.edu/business/kellercenter/index.php?id=59619
Flag Wed Aug 15, 2012
Karen and Pa…, Agent, Cameron Park, CA
Mon Sep 21, 2015
There are so many options in choosing a realtor. There are a lot of us out there. These days the biggest percentage start by looking online. Zillow/Trulia reviews are good way to see what past buyer and seller have to say about the realtor they used. We all have an relative, friend or neighbor that sells real estate. 1 thing to remember is 20 percent of the realtors out there do 80 percent of the work. (That is a made up stat but overall pretty true) A home purchase or sale is a big time investment and you should do your homework on the agent representing you. Using the wrong or a bad agent may cost you $$$$. When your friend refers their buddy or their neighbor, I recommend looking them up and seeing what they have sold or what reviews they may have online. If they don't have any reviews or are difficult to find any information on maybe you should keep looking. If you are looking to buy or sell a million dollar property and the agent you picked entire real estate experience only consist on selling 2 $50,000 mobile homes, They might not have the expertise you are looking for to buy or sell your home. Not to mention when you list your home, will your agent have the funds in their bank account to advertise your home correctly? Will they have a professional photographer or will they only be able to afford to use their cell phone camera. Do they have proven negotiation skills to get you the most money for your home. Writing an offer or driving around looking at homes is the easy part. Negotiations, dealing with inspections, lenders, title and problems. How about the dealing with a bad agent on the other side? Deals fall apart all the time because the 2 agents can't figure out how to fix a problem in the transaction and the Seller and Buyer are the ones that lose out because of it. All in all you pay the same amount in commissions to a bad agent or a good agent so do your research so you know you are getting a good one.
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Sun Sep 9, 2012
I don't know about research on how people choose Realtors, but do know after more than 20 years as a full time Broker that most people have no real idea what they should be asking when they interview perspective Realtors and consequently most don't get great representation.

Below is a link to one of the most popular blogs I've posted on Trulia on how to find a great Realtor. I hope this information helps you find a great buyer broker to assist you.
0 votes
Maria Cipoll…, Agent, Coral Springs, FL
Wed Sep 5, 2012
A recent study by the California Assoctiacion of Realtors showed that 82% of customers used the internet to find an agent. However many buyers and sellers get a referral from family members, friends or co workers.
According with zillow real estate guide article "Choosing a realtor" the answer is right out your door. Drive or walk around your neighborhood to see whose name or biz is most utilized.

Sincerely,

Maria Cipollone
http://www.Flahomesopecialist.com
0 votes
Emily Griffin, Agent, Seattle, WA
Wed Sep 5, 2012
Here are the percentages according to the National Association of REALTORS® in 2011:

-Sellers-
- 39% of sellers who used a real estate agent found their agents through a referral by friends or family, and 22% used the agent they worked with previously to buy or sell a home.
- Two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.
- Among recent sellers who used an agent, 85% reported they would definitely (69%) or probably (16%) use that real estate agent again or recommend to others.

-Buyers-
- Forty-one% of buyers found their agent through a referral from a friend or family member and 9% used an agent they had used before to buy or sell a home.
- About two-thirds of recent buyers only interviewed one agent before they found the agent they worked with.
- Nearly nine in ten buyers would use their agent again or recommend to others.
0 votes
Scott Henry, , Seattle, WA
Wed Aug 15, 2012
Most of my business and for those agents who are long term, come from past satisfied clients who pass my name onto others, this continues, through all the technology to be the primary way realtors are chosen. Many people will search and search on their own and then when it is time to get serious they will ask a parent, friend, co-worker for a good reference to talk to, and often times that is when the bond is formed. My other source of clients comes from being in my local area, in my case West Seattle, I am long term here, know a lot of people and list a lot of properties here, so I do meet the buying public at open houses on my listing or calls I get inquiring, hope that helps.
Scott Henry
0 votes
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