You might find the results of this survey by House Values in the U.S. interesting.
To start with, 76.39% of the home buyers and 79% of home sellers surveyed used a real estate agent during their last purchase or sale. Of those who did hire an agent, the majority of home buyers chose their agent based on the following criteria:
- Experience and honesty
- Knowledge of the area
Home sellers selected their agent based on the same criteria as above with many of them adding that they had also worked with this agent in the past.
So how much time did these consumers spend interviewing and selecting an agent to work with?
52.1% of sellers take only one day to interview and select a listing agent, and tend to choose an agent earlier in the process than buyers.
61.8% of buyers select their agent in one to three days, usually later in the process than sellers.
What are the top reasons why a buyer or seller decided to retain a real estate agent:
- To complete paperwork and offer legal advice
- To negotiate with other interested parties
- To provide access to homes on the market
So how can you adjust your marketing to stand out?
- Be an expert in the area you are marketing in and consistently demonstrate this knowledge in your marketing.
- Constantly stay in touch with clients so they think of you first when they are looking to buy or sell.
- Maintain and constantly update your web site as a source of information about the area and the market.
- Reinforce the importance of interviewing more than one agent to ensure they are finding the best agent for their sale or purchase.
- Demonstrate your market knowledge with market updates for the area.