It’s true. More buyers and sellers than ever are using a real estate agent, and they choose one that was referred to them by someone they trust.
The California Association of Realtors®, The CE Shop and REAL Trends joined forces to produce a 2018 Harris Insights & Analytics study of recent buyers and sellers, and there’s good news for the industry.
While a more detailed report will be released soon, here are some high-level conclusions.
90% of all buyers and sellers used a real estate agent in their transaction. This is up from 85% in a similar REAL Trends study done four years ago.
When asked what the most important factors were in choosing an agent, 69% said that it was essential to get a “referral from someone I trust.” That was followed
by “agents who had listings similar to what I am looking for (64%), “looking at websites with ratings of agents (62%) and having a personal relationship with the agent (57%).
89% said that having a real estate professional assist in negotiating the best price, whether buying or selling, was extremely or very important. Interestingly, 83% said that “providing a list of homes to look at” was extremely or very important.”
82% of these recent buyers and sellers say that they, “prefer to use a real estate agent for my transaction because they are professional.” The same 82% said that “I think of my real estate agent as a trusted advisor.”
One last important fact from the study regardless of the age cohort, 18-34, 35-54 or older, each age group was at or above 90% usage of a real estate agent.
The California Association of Realtors, the CE Shop, and REAL Trends will be releasing more detailed information, shortly.
The study was conducted in June-July 2018 and was composed of approximately 1,000 families who had bought or sold a home in the prior six months. Harris Insights & Analytics is among the most respected research firms in the world. REAL Trends has used them four times since 2001 to do similar studies.
REAL Trends has been The Trusted Source of news, analysis, and information on the residential brokerage industry since 1987. We are a privately-held publishing, consulting and communications company based in Castle Rock, Colorado.
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