90% of all Buyers and Sellers Used an Agent, Up 9% From 2001
In a recent consumer-focused study produced by Harris Insights & Analytics and underwritten by REAL Trends, the California Association of REALTORS and The CE Shop found consumers still value relationships with real estate professionals.
This is the fourth in a series of housing consumer studies done by Harris Insights and REAL Trends, the first being published in 2001. Surprisingly with the increase in technology and emergence of real estate tech giants like Zillow, Trulia and Redfin, the latest study shows the usage rate of agents by consumers is at it's highest recorded value yet. And to dispel the myth that millennials are turning away from real estate professionals, the usage rate for the age group 18-34, was 91%. In fact the usage rate for the oldest generation segment in the study, 55+, had the lowest usage rate at 81%.
The study also includes information on which websites were used most by consumers when searching for agents, the factors that mattered most when selecting a real estate professional, and the importance of services provided by real estate professionals.