Real Estate Tech Trends : Part – II

Last month I gave you guys a list of trends relating to technology and how buyers and sellers use it to find a their agents. So today I’m gonna give you a few more statistics for you to use in your daily hustle and bustle.

Why Buyers choose their Agent:

24% Say they chose a Buyer who is honest and trustworthy.

21% Say they chose a Buyer based on their reputation.

15% Say they used an agent that was a friend or family member.

12% Say they chose an agent based on their knowledge of the neighbor.

9% Say they chose an agent because they thought the agent had a caring personality.

6% Say they chose the agent because they received a timely response.

5% Say it was the Prestige of the firm.

4% other.

Expected Response time <VS> Actual Response Time:

SELLERS:

77% of seller expect a response from their agent within 30 minutes of an inquiry.

45% of sellers expect an instant reply from their agents after an inquiry.

Only 24% of Agents respond to sellers within 30 minutes of initial contact.

BUYERS:

88% of buyers expect a reply within 1 hour of inquiry.

42% of buyers expect to be contacted instantly.

Only 30% of Agents respond to Buyers within 1 hour of inquiry. 

Response Time importance:

6% of buyers say response time is somewhat important when selecting their agents.

94% of buyers say that response time is Very Important when selecting their agents.

All Say that Response Time was important.

Repeat Business:

74% of buyers say that they would definitely use an agent that was recommended to them by others.

15% of buyers say that would probably use an agent recommended by others.

5% of buyers say that they would probably not use an agent recommended by others.

4% of buyers say that they would definitely not use an agent recommended by others.

2% of buyers said they don’t know.

Only 10% of buyers actually used agents they had previously used.

This is only Part II of Real Estate and Tech Trends. Part III will be coming soon and focuses on how Buyers & Sellers use and respond to both new and traditional marketing tactics!

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