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.
Expected Response time <VS> Actual Response Time:
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.
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.
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!
- Real Estate Tech Trends – At A Glimpse (realtoracademy.wordpress.com)
- Finding a listing agent: a guide to resources (reply.com)