What do homebuyers want? Recently they told us! Trulia Staff sat down with a user group and had a discussion on what they look for when hiring a real estate agent. Here’s what they had to say (in order of importance):
1. Honesty and Credibility
Win them over with the truth!
When these buyers talked about honesty and credibility, it often came with stories about past negative experiences with agents. The stories were about agents trying to push them towards a more expensive purchase and a strong dislike for the false sense of urgency they feel agents create when it comes to placing an offer on a house. Buyers have expressed how hard it is to trust anyone in today’s real estate market so it’s even more important for agents to help them feel comfortable.
2. Area Familiarity
Do your neighborhood homework!
These buyers place a high importance on finding an agent who not only sells homes in a specific neighborhood, but also knows that neighborhood well. They want an agent who knows all about the schools, local parks, safety, restaurants and even the secret gems the neighborhood has to offer.
3. Good Follow Through
You say it, you do it.
During the conversation our buyers constantly verbalized their frustration with agents who didn’t do what they said. Email me, call me and send me the things you say you will. It seems like such a small thing to ask for. Do what you say, combine it with some honesty, and you’ll be an agent buyers feel comfortable working with.
4. Organization
Keep it in order.
You’re honest, you know the area like the back of your hand, and you try your hardest to follow through but it’s just so hard to keep track of your to-do lists and return every phone call. Buyers are expecting agents to be organized and put together. There are a ton of tools out there to help with this. (We love Evernote!)
5. Good Listener
Everyone is unique. Treat them like it!
Users want an agent to listen to them with a blank mind. I heard phrases such as “pigeon hole”, “judge”, “they aren’t listening”, “tell me what I want”…etc. come up in our discussion. Users don’t want an agent to assume they need A just because they hear B. They want an agent who listens to what they want and will ask as many questions as required to really understand who they are and what they are looking for.
Make sure you get those references too- recommendations and testimonials followed closely in the 6th position.
These characteristics come straight from prospective home buyers searching on Trulia. We hope these tips help you communicate what matters most to homebuyers to further your relationships and connect with more prospects.
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Legacy Comments
What was the survey size? What were the other choices?
Not that it matters a ton, I mean all these things sound like what I’d want in most everyone I’m dealing with, just wonder what some of the other choices were and how many people were polled.
It seems interesting that entire conferences are devoted to tech, and indeed some tech would definitely help with some of the characteristics, like listening, but that no one mentioned being more tech savvy.
Hello there Corri.
The group we bought in was our enthusiast panel, which that night consisted of 8 participants. We talk to them on a regular basis and have recruited them to be representative of our target demographic.
We asked them to talk about their experiences with finding and picking an agent. The group ended up mentioning 27 different criteria that we listed on the board and they rated on a scale of 1-5, 5 being most important. None of the 27 criteria had to do with being more tech savvy though.
In any study the size of the population you’re pulling from, using only 8 subjects is not a good sample for valid results. Additionally, the 5 characteristics listed are not new to anyone dealing with buyers though they are always good reminders of what we already know and perhaps don’t always practice. I assume the order of the list is not in order of importance as “Listening” would certainly not be at the bottom of any such list. Though I don’t think the survey/study is well designed, I do appreciate the reminder of some things buyers want in an agent.
Hello MaryAnn.
Yes, 8 subjects is not valid if one is looking for statistical data, however, when gathering qualitative data 8-12 is in fact an appropriate size. Our goal was to gather qualitative data as guidance and we thought we’d share what we found.
The list is in order of importance according to our users but the top 5 were all very close. The fifth item is about being a good listener,not just about listening. Our users felt there was a difference between agents who listened and ones who were good listeners.
I appreciate the tight scrutiny of our blog post. Continue posting comments or questions if you’d like to know more!
Cassy
I appreciate your reply, Cassy. As long it’s stated that your survey isn’t statistically valid but rather a qualitiative survey, I have no argument. Can’t argue with opinions if it’s clear that’s what they are. The list would likely change with another or larger sample….my opinion & maybe interesting to try it.
Thanks and have a good day!
Hello Corri:
Being tech savvy, I am finding, is key to doing business well, but it seemed to me that the characteristics that were cited were more on the personal level, as in dealing directly WITH the client as opposed to working FOR the client. Tech savvy-ness is critical in doing business, but less important for that one-to-one interchange with our clients and customers.
Peter
Corri is right on “high tech” is good and “high touch” is too.. Buyers may find us through technology but we need to meet them, answer their questions, return their calls, and listen..
I agree with you John 100%. Person to personal is always good!
I am real estate agent, and I agree with all of these characteristics. In the Metro Atlanta area, all real estate agents are required to join the Multi List Service where all data is housed for available properties for sale. Therefore, everyone is pulling from the same source. I don’t know what other high tech savvy tools you are talking about. In today’s market, everything is price driven.
Sam
I think good listener should move up the list. As brokers and agents, we talk a lot – about the market, lending, neighborhoods, our incredible skills – when we should listen more. Doesn’t matter what technology we use, the letters behind our name or the integrity we claim – if we can’t hear our clients, we can’t help them.
And I agree with the parenthetical statement in #4 – Evernote is a lifesaver!
I agree with Sam, I work in NYC which is a very tough market, driven mainly by rentals and we have an abundance of agents here, we however find that at times it is difficult to keep clients b/c they are working with at least 3 ppl at most times. In addition, I also think that prospective clients should be clear with what they want and answer the questions, i know it may seem like we don’t know you but we are asking a ton of questions but we need to know so we can provide the best service possible.
I agree with all of the above but I also find that there is one thing that is vital and that is the knowledge of how to make it work for your buyers. By that I mean knowing the market plus the financing available to them, terms, different products, etc and be really creative. I truly believe that part of my success has been that tool. Most agents refer them to a loan officer, I prefer to sit down with them and show them the options. Having the knowledge gives them confidence in you.
Regarding tech savvy, perhaps it could be said that one who is a listing agent needs to be tech savvy. Statistics show us that buyers are looking online more and more for their new home. If they don’t know its available, how will they purchase?
If a buyer is depending solely on their agent to find them home possibilities, well that is when mls becomes the most important tool. Rest assured, however, with the internet as huge as it is, buyers will generally end up telling you about a house they want to see…and the only reason you didn’t send it to them in the first place is because it didn’t meet the criteria they told you.
) Love that, and love the internet availability for buyers.
With all of that said, a survey of the top 5 criteria for sellers when hiring a liting agent would be nice to see…and I bet ‘tech savvy’ will be on it.
As an Agent that has won multiple awards for production and customer service, I could not agree with this list more, maybe rearrange some of the items or give them equal credit. I believe that Realtors have a bad rap because of a few agents that truly do not understand the business or are simply a used car salesman and are out there to slam people into whatever they want them to be in. I approach my clients as to how I would like to be treated and the things that I like to see. Responsiveness is tops on the list for most people. I can not tell you how many times people have commented on the fact that anytime they needed me, I was right there. When I train new agents for my team, I tell them you have a 15-30 min window of time before you lose your client or start to lose credibility with them. Agents get wrapped up in the business side of things and forget that there real people with real emotions, usually extremely high, on the other end of the phone or email. It does not take much to wind them up even more. Clients are not Dollar signs and when agents look at clients that way, it shows, and I dont care how sucessful the agent is, it makes a difference.
At the end of the day, honesty and integrity will always be tops on the list. As a Realtor, I deal with peoples lives and emotions on arguably the biggest investment investment of their lives. Realtors should understand that an honest Realtor will make more in the end by referrals than by slamming working with poeple as their next check.
It should be noted that I do not think that all Realtors are bad. It is like anything else, a few will ruin it for the many as is the case here. Most Realtors are hard working people just like everyone else, doing the best they can to make a living. Considering that the average realtor makes about 36K annually, it is a hard living. There is no greater joy in my book than to see a client become a homeowner and own a piece of the American Dream. By adhereing to the list that was posted, we can do that and be successful at at it.
Roy Barker
Broker
Great information. I find it interesting that experience, expertise, trusted contractors / inspectors / lenders, and negotiating skill did not come up. I guess it is like “Maslow’s hierarchy of needs”. If you can’t trust your agent and they are not organized, then it does not matter how good they are… Maybe the list should have the top 10?
Being familiar with the high tech aspects is very important to us, not so much the client. We just use it to support the things the client does want. The longer in this business the more I realize how all the little things are what create success. Little reminders like your article here do help. Thank you.
Right on Samantha, when sellers act as though we Realtors are out to rip them off for refusing to list at ’05 prices and buyers want it on the fairway overlooking Aug Nationals Amen corner at a section 8 price, how can a techy beat that. Astral most agents use the latest hi-tech tools for their CMA’s. I am not so sure clients ready want so much honesty. They want that Jed Clampett oil reserve even God did not know about.
Ok, I will step down from my self imposed pulpit now. Thank God for progress!
I am a Realtor, and while I agree with everything on the list, I’m very surprised that experience was not listed. Yes, this is a Buyer’s Market, and almost any agent can write a contract; however, if you don’t have the experience and the ability to bring that transaction to closing (which to me is the most difficult part) then you may not be a skilled agent. There are so many things that could go wrong during this time period of contract-to-closing such as tensions/emotions from both parties (the buyer wants a good deal and the seller may feel like they are being taken advantage of or having to give the house away), home inspection issues, appraisal issues, financing issues, sellers having to bring money to closing in order to sell, etc. Unless you’ve had experience dealing with these kind of difficult issues and are proactive, your transaction may not close.
Clara Outler, MBA, CRS, Assoc Broker
I really appreciate the information and agree with it…Testimonials could be swapped with almost any one of those as you said and follow through has to be the #1 thing that I hear when working with clients who had agents in the past.
I agree with Corri regarding “tech savvy” being one of the most important “skills” needed to keep pace in today’s market but may be a different category when speaking about “characteristic”. The Enthusiast Panel consisted of 8 people who supposedly represtented Trulia’s target demographic which may not be representative of my or your specific demographic. The biggest challenges we face is converting leads into loyal clients turned long term relationships where referrals breed for years to come. I mostly agree with these 5 characteristics being in my top 10 but we must not forget that even if we posses and master these 5, they may not be the most important 5 to our unique client. If you have a personality that compliments your client’s, you are almost guaranteed their business for life.
I’d agree with most of these points except for the “expert” in the local area. I’ve found many buyers are not that interested in the schools as much as it were moving to the city that had the better of them.
Samantha brought up “where all data is housed” and tech savvy which is my pet peeve. I don’t agree with our MLS data bases being open to the various websites such as redfin, yahoo real estate and so forth. We agents PAY big to belong to the “Data Base” authority yet at the same time, the MLS is likely selling that data away to the web.
As a buyers agent, I’m at a disadvantage and lose clients because they have access to almost the same information I provide them with and they find all sorts of property I didn’t send them. They also get off track while sifting through the listings. This also makes it very hard to retain a buyer because the very system we pay to belong to is working against us. Our data base should be protected and available to only realtors, period. As a listing agent, I notice no additional buyers contacting me for their business.
Garth I am with you 100%. The MLS sold us on the “Lion Is Coming Over The Mountain” garbage and if you don’t give them the data they will get is somewhere else so let’s sell our agents down the river deal about 15 years ago starting with REALTOR.com We pay National, State, Local Dues, MLS Fees, Continuing Education and license costs each year along with all our other expenses and some clown at Redfishfalseiazilliot.com AVM model so they can sell us back our own leads that were generated from that exact data feed. Wonder how Zillow’s IPO is worth $48 million dollars, just ask one of our leaders or worse our own brokers who sold or gave them all our data to facilitate how to avoid working with a qualified REALTOR. I am not a technophobe but I see so many REALTORS who sit behind a computer all day playing farmville going broke waiting for that Social Media big pay off in the sky. Real Estate is still local and a people business no matter what anyone says.
Cassy, I agree the most important traits are those which should come naturally. All 5 characteristics you mention are criteria I try and adhere to when dealing with clients and potential clients.
Love the list. It’s all true. About experience: buyers want the 5 things mentioned and if the agent does it all, the “experience” is a given. Buyers may meet an “experiences” agent who has all the website, lead-generating tools first; but, how that agent proceeds determines the conversion rate. I have recently picked up 2 buyers from “other” agents who did not do these 5 things well… It’s the buyer’s transaction.
These qualities are, indeed, important qualities in a good real estate agent when working purchasing a property. There are others that are at least equally important. What is left out here is the knowledge, skill and experience to actually get the transaction done. This includes being a strong negotiator, being able to keep a deal on track, and to creatively problem-solve when things go awry – and they will! This is something consumers who were surveyed may not realize, because you have to have gone through the experience to know the kinds of things that can go wrong and how a strong, skilled agent is the glue that keeps it all all together.
I had a bad experience with a real estate agent, I trusted him when I was buying 8 different properties, but he backed stubbed me when least expected.
I had a tenant in one property that I selected with his advise and he made sure I discounted the rent charge (from 1750.00 to 1650.00) and the a security deposit (from 1650.00 to 325.00) the rental agreement was a two year lease.
When the one year passed, he secretly showed properties to this tenant and my tenant purchased a new house with a $ 100000.00 down, I was never inform about this until he closed escrow with his client (my tenants) and he never offer an explanation of why he did this. At present I do not want to do anything with him and just ignore him.
Please advice of what I can do about this “conflict of interest” and an “Ethical problem”.
This is a great post and good discussion here! Being theRealtor
That buyers want involves attention to wwat Dooctors call “Bed-Side Manner” !
You can be Tech-Savy,Organized,Experienced, Trustworthy and a “turn-off ” !
If you’re not carefull – The energy and drive needed to do what we do can
be misplaced and can work against us. So on the expanded “top ten” I
would add “Humility “. High Power coupled with low Key presence. You
cannot turn a bright light on in a dark room and expect people to see!
Although the 5 points are correct (and certainly incomplete), the problem is that potential buyers do not know that about the agent when they meet him / her. Buyers also do not “interview” agents, which they should, but then do not know what to ask in most cases. Let’s face it, many buyers are “afraid” of agents because of the reputation we created, and I am sure I do not need to spell it out. I see many potential buyers and they simply prefer to walk away than have a real conversation. Trust is something you can only build over time, and buyers will not give you that time. The same with knowledge, integrity, follow up etc. And although I agree us realtors can do a better job, potential buyers could also improve their behaviour and not treat us like “uneducated second hand car sales people”, who can be taken advantage of to give everythiong for free, and not appreciate our time and efforts. Buyers please beware, some of us are much more educated (read knowledgeable) than you think. Hope to hear from you. http://www.facebook.com/pages/Antoines-Real-Estate-Place/219268691429925
I have a FULL TIME buyers agent, so if you are looking for an agent that will give you 100% only to you, please email me at tovaoren@pacbell.net. or call me 714-865-6500.
I have a FULL TIME buyers agent.
Please call me at 714-865-6500, or email at tovaoren@pacbell.net, if you are looking for 100% attention to your buying needs.
Thank you
I don’t think this is one of the better polls simply because it was done with a small group of 5 people. But I think all of your true real estate professionals will agree that those four characteristics are basic fundamentals in establishing and maintaining a good client relationship. From the responses, there seems to be a series of common misconceptions with buyers. Regarding HONESTY & CREDIBILITY…a real estate professional should provide what the buyer is looking for provided their requests fall within their price range. If a buyer has a restrictive loan program where good condition is a criteria or for those buyers who want “everything” or a very specific search criteria, homes in the lower price ranges may not work. This leaves them with the only option to consider homes in a higher price range. AREA FAMILIARALITY…a real estate agent should work in areas where they are familiar. However, buyers don’t realize that real estate agents are “legally restricted” from directing buyers to specifric neighborhoods and they are not able to comment on the safety of a particular neighborhood. However, there are resources on-line and at the town halls where a buyer can obtain more information about neighborhoods and safety information. And GOOD LISTENER…Good listening is vitally important for a real estate agent, AND also for buyers. A part of the value in working with a professional real estate agent is the good advice and guidance they offer to their customers and clients through the process to bring greater success. I have found more often than not, buyers tend to listen and take the advise of friends, family and co-workers which can create a lot of confusion for buyers because they listen to stories based on someone else’s experience. Perception can be very different than the reality of things. Keeping the channels of communication open in the working relationship is key.
I find it hilarious that so many agents would “disagree” with some of these findings. As in “I disagree with buyers about what buyers say they want.” I suspect some of these agents are the ones who don’t listen so well. I am an agent and I found this information valuable even if it isn’t surprising. Sometimes there is brilliance in simplicity.
Took a while, but someone finally commented that Agents are prohibited from suggesting, talking about or directing buyers to a particular neighborhood, school or talk about how safe an area is. In fact, if you want a visit from the Dept. of Fair Housing, discuss these issues with your clients.
As far as the survey goes, Trulia is a huge corporation that stretches to all end of the US and beyond(?) In fact, Trulia gets better traffic that REALTOR.com, yet they only managed to survey 8 people and then write a blog about it. Sounds like NY Times journalism. Even the results seemed canned. Nothing inhere is shocking, revolutionary or ground breaking. This is Real Estate 101.
Come on, I know you guys can do better than this.
Told over and over the way you market your properties, local communities and if it is first class, time saving, money saving, you have a blue ribbon. To wear next to your “R”, the hardest by far letter of the alphabet. A good salesman, real estate agent broker REALTOR knows the product backwards, forwards. That is what the buyer and seller want, need. And if you don’t provide it, those two groups will find someone who does provide it. There are few others in the real estate herd roaming the blue and green revolving marble.
I changed my mind, which I believe is my prerogative. After attending a powerful workshop on the trends of the current buyers (average age 34) versus the current age of real estate sales agents (average of 54, about where I am), I now know that being tech savvy is one critical way for us to build the confidence that our clients need to have in us. The knowledge of the most current technology, at least the awareness of it, is key in building the relationships with our clients that will guarantee to them that we are doing our best to meet their goals.
As an American working in the real estate industry in the Republic of Panama, I find that the qualities you name in your article are especially important and also exceedingly rare. I can’t even count the number of times I have been thanked just for responding to an email in a timely way. It is a different world for us outside of the U.S. and Panama is rather like the wild west when it comes to a structured system for selling property. We have to be especially sensitive to the buyer’s sense of ‘newness’ about buying in a foreign country and, because there are quite a few scam artists out there, especially vigilant in presenting the facts. Naturally we want to sell property, but when a buyer asks me about the weather, I have to admit that the rainy season is, well, pretty darn rainy.
hi cassy,
You are so on target with those reasons. Owning a house is a rite of passage. It is an extension of yourself. Realtors need compassion, great empathy, listening skills, and common sense.
lydia labat