What is your current interest in real estate?
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- Rafe Stokes
- 5 years ago
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2 What is your current interest in real estate? Just bought/sold a home More than 40% are searching/buying a home 19% Just beginning my search 24% Just looking for fun/watching the market 27% In the process of selling a home 10% In the process of buying a home 20% 2
3 How many homes have you bought or sold in your lifetime? 40% 35% 30% 25% 20% 15% 10% 5% 0% 16% 16% 20% 1 in 5 are first time buyers Nearly 2/3 have purchased multiple homes 13% 34% 0 This is my first More than 3 3
4 When you think about real estate agents, how would you rate their level of professionalism and competence overall? 94% believe real estate agents are professional and competent; Not sure/don't really have an opinion Not very professional and competent 2% 5% Just 5% believe they are not professional/competent Somewhat professional and competent 38% Very professional and competent 45% Extremely professional and competent 11% 4
5 How would you compare the level of professionalism and competency of a real estate agent relative to the following types of business professionals? Mortgage/lender Insurance Agent CPA/Accountant Financial Planner Attorney Real estate agents are perceived closely to other professionals Much more professional and competent Somewhat more professional and competent About the same Somewhat less professional and competent Much less professional and competent 0% 20% 40% 60% 80% 100% 120% 5
6 Did you use a real estate professional to buy/sell your last home? Yes No 7% 93% used an agent to sell their last home Similar to national statistics 93% 6
7 How satisfied were you with them in that transaction? Extremely dissatisfied 4% 88% of consumers are satisfied with their agent; Somewhat dissatisfied 8% Just 4% are not at all satisfied Somewhat satisfied 22% Very satisfied 32% Extremely satisfied 34% 0% 5% 10% 15% 20% 25% 30% 35% 40% 7
8 Are you currently working with a real estate agent? 41% Nearly 60% are currently working with an agent 59% Yes No 8
9 How did you identify the agent you are now working with? (For those that are currently working with an agent) Referred by a friend Know them personally Satisfied past customer Other (Please specify) Found them online selling listings in areas Company name/reputation Found them on the Internet on a ratings site Advertising Met them at walk-in/open house Saw their yard signs in the area Real estate agent presentation 9% 8% 6% 5% 4% 4% 2% 16% 17% 28% 30% Referrals and relationship still key drivers of agent selection 9
10 Are you working with a licensed real estate agent or REALTOR? (for the 59% that are working with an agent) 36% 35% Less than 1 in 3 clearly know they are working with a REALTOR 29% Licensed real estate agent REALTOR Not Sure 10
11 Are you currently looking for an agent to work with? (For the 41% not currently working with an agent) Just 1 in 5 are currently looking for an agent 21% 79% Yes No 11
12 What ways are you looking for the agent you are now considering to help you? Referral Satisfied Past Customer Online selling listings in areas that I m Internet on a ratings site e.g. Yelp, HAR.com Company name/reputation Real estate agent presentation Walk-in/Open House Other Know them personally Yard signs in the area Advertising 6% 5% 11% 11% 16% 16% 19% 25% 31% 47% 52% 1 in 4 are now using agent ratings to help find an agent to work with 12
13 Do you believe you will work with a real estate agent eventually? (for the 41% that are not currently working with an agent) Yes No Not Sure yet 5% 26% Just 5% say they will not work with an agent 69% 13
14 Are you interested in working with a licensed real estate agent or REALTOR?(for those not working with an agent yet) 52% 14% 22% 12% No clear preference to work with a REALTOR vs. a licensed real estate agent Licensed Real Estate Agent REALTOR No preference Not Sure 14
15 Who did you work with when you bought/sold your home(for those that have bought/sold a home?) 14% 4% Just 1/3 said they worked with a REALTOR 50% 32% Licensed real estate agent REALTOR Not sure Neither 15
16 Do you know the difference between a licensed real estate agent and a REALTOR? 25% 55% 20% 55% do not know the difference between a real estate agent and a REALTOR? Yes No Not sure 16
17 Are you aware that you can find reviews of an agents performance with past clients on HAR.com? Nearly ½ are aware of the Client Experience Ratings on HAR.com 52% 48% Yes No 17
18 Have you used the Client Experience Ratings on HAR.com? Yes No 31% Just under 1/3 of consumers have used Client Experience Ratings on HAR.com 69% 18
19 How helpful were the Client Experience Ratings to you? No opinion/not sure Not at all helpful 4% 6% 90% found Client Experience Ratings to be helpful Somewhat helpful 33% Very helpful 36% Extremely helpful 22% 0% 5% 10% 15% 20% 25% 30% 35% 40% 19
20 How much do you think the Client Experience Ratings from past clients would influence your decision about what agent you work with(for those that have not used agent ratings)? Not sure, haven t looked at them I would use them in addition to talking to Not at all Slightly 6% 3% 5% 17% More than 69% who have not used Client Experience Ratings believe that they would be helpful Somewhat 24% Very much 39% Completely 6% 20
21 How helpful would it be to see how many transactions a prospective agent has been involved with in the neighborhoods you are interested in(for those that have NOT used Client Experience Ratings)? 42% 96% of consumers believe viewing past transactions would be helpful 1% 2% 20% 34% Not at all helpful Not sure Somewhat helpful Extremely helpful Very helpful 21
22 When choosing a real estate professional to work with, what are the MOST important factors?(choose all that apply) Really seem to understand the market and the neighborhood(s) I m Has demonstrated that they will respond to me quickly by using all means They seem respectful and patient and will help me all the way through the Really seems to understand my unique needs I get along with them well Referred by someone I trust Has experience selling homes in my area/price range Seems trustworthy Has a lot of experience Has completed many transactions in the area I m interested in They work for a well-established and trusted real estate company Positive online reviews by previous clients Other (Please specify) 6% 29% 25% 24% 40% 59% 55% 52% 51% 51% 73% 71% 68% Market knowledge and responsiveness are the two key 22
23 How helpful has your real estate agent been so far?(for those that are already working with an agent) 32% 46% 19% 97% believe their real estate agent has been helpful so far 3% Extremely helpful It s very complicated and I need help Very helpful Somewhat helpful Not at all helpful I believe I can do it myself 23
24 How important are the following tasks of your agent as you go through the process if purchasing a home Helping me negotiate a fair price for the home I'm interested in Knowing all of the local market rules so that I don t get into any Coordinating all of the steps that are needed to buy my home e.g. Helping me deal with challenges that come up during the process Helping me understand all of the forms that I have to sign to buy a Keeping me up to speed in real-time on all of the facets of the Helping me buy a home that will be a good investment for my family Helping me find a home that matches my search criteria Access to an online site that allows me to track the status of my Helping me understand the requirements for getting a mortgage Helping me search for homes online 25% 37% 36% 62% 62% 53% 68% 67% 63% 79% 77% 5 - Very important Not important 24
25 How satisfied are you with the following skills and qualities of your real estate agent?(for those in the process of buying/selling) Honesty and integrity Knowledge of purchase process People skills Knowledge of real estate market Communication skills Knowledge of local area Responsiveness Skills with technology Negotiation skills 2% 2% 12% 4% 3% 16% 1% 5% 17% 2% 4% 21% 1% 5% 23% 2% 5% 23% 1% 6% 24% 4% 5% 25% 16% 8% 24% 52% N/A Not satisfied Somewhat satisfied Very satisfied 70% 66% 73% 71% 71% 77% 77% 83% Current customers are most satisfied with honesty, knowledge and people skills 25
26 How satisfied are you with the work your agent has provided to prepare you for the following? (for those currently in the process) Many agents are not talking about all elements of the transaction upfront to allow consumers to know what s Home Appraisal 22% 15% 52% Home Inspection 28% 17% 41% Title Insurance 22% 17% 51% Securing the best mortgage for me 24% 16% 46% Extremely satisfied Very satisfied Somewhat satisfied Somewhat dissatisfied Not at all satisfied Have not discussed yet 26
27 If you were going to do it all over again, how likely would you be to use the same agent to assist you? 60% 50% 40% 30% 54% Nearly ¾ of consumers would use the same agent again 20% 10% 19% 14% 8% 5% 0% Extremely likely Very likely Somewhat likely Not at all likely Not sure 27
28 How likely will you be to recommend the services of your real estate agent to a friend, neighbor or relative? 60% 50% 40% 30% 20% 51% 23% 15% 74% are likely to recommend their agent 10% 5% 6% 0% Extremely likely Very likely Somewhat likely Somewhat unlikely Not at all likely 28
29 How important are each of the following tasks of your agent as you go through the process of selling a home? (1 is not important, 5 is very important) Marketing/Promotion my home effectively online Marketing/promoting my home effectively locally Helping me price my home appropriately Helping me negotiate a fair price for my home Knowing all of the local market rules so that I don t get into any Finding qualified buyers Keeping me up to speed in real-time on all of the facets of the Helping me deal with challenges that come up during the Coordinating all of the steps that are needed to sell my home Helping me understand all of the forms that I have to sign to sell Helping me understand the disclosures that will be needed to 60% 50% 49% 76% 75% 75% 75% 74% 64% 92% 85% Marketing, pricing, finding buyers most important 5 - Very important Not important 29
30 How satisfied are you with the performance of your agent to date in the following areas? Demonstrating ethical and high integrity business practices Helping me understand all of the steps that it takes to sell a home Helping me to continue to prepare the home to sell more quickly Responding quickly to my questions and concerns about the process Setting up showing appointments that are convenient for me Marketing/promoting my home online Creating an easy closing process by handling all challenges as they came up Providing me feedback on those that have toured the home Minimizing the stress levels for me when selling my home Marketing/promoting my home locally Delivering qualified buyers submitting offers for my home Bringing lots of qualified clients to look at my home 56% 50% 74% 73% 71% 71% 68% 66% 64% 64% 80% 78% Top 2 Sellers are least satisfied with the number of qualified buyers 30
31
32 Do you live in the Houston area? no 10% yes 90% 32
33 What is your gender? male 33% female 67% 33
34 What is your education level? Post-graduate 33% Undergraduate 35% Some college 26% What is your age? Highschool 5% 28% 29% 21% 13% 2.0% 4% 2% 18 to to to to to no answer 34
35 What is your income? $200,000 and above $150,000 to $199,999 9% 10% $100,000 to $149,999 20% $75,000 TO $99,999 $50,000 to $74,999 15% 16% $20,000 to $49,999 12% Less than $20,000 1% Prefer not to say 15% No Answer 1% 35
36 What best describes your real estate interest? Looking to buy 60% Homeowner 54% Just like to lok at real estate for fun 26% Looking to sell 20% Investor 13% Relocating 11% 36
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