Here’s What Buyers Want from Real Estate Agents
Expertise WITH Technology
Owners.com, a tech-enabled real estate brokerage, recently released the results from a survey of more than 1,000 recent home buyers. To nobody’s surprise, home buyers are more self-informed on their search than ever before, but they are consciously looking for agents to assist in streamlining the process through technology and apps.
Buyers Want Agents to Be More Effective
While an impressive 83% of buyers worked with an agent through the process, more than a third of respondents (36%) specifically mentioned their agent could have done better by incorporating additional technology to streamline the process.
Specifically, buyers want agents to provide them with tools to keep them organized. Furthermore, the survey showed:
- Nearly half (46%) want agents to keep track of their appointments, viewings, or follow-ups in one place. Extending this further, keeping track of messages related to properties and in general consolidating communication is likely desired.
- The ability to schedule showings online was desired by 42% of buyers.
- Speaking of communication, 30% of home buyers want that communication done via Mobile App. Without further details it’s difficult to substantiate this, but all of these statistics are likely describing the next generation of home buyers (Millennials).
With so much tech and data available at the fingertips of home buyers, agents need to play on the same field. However, simply providing a tech-enabled environment to clients doesn’t cover all clients need: they still need guidance.
All The Data, None of the Answers?
Sixty-two percent of home buyers said they do their own property search online or access online data at least once a day related to their home search. However, it’s clear that buyers still value the insights agents provide:
- Sixty percent of buyers stated the top value of their agent was the understanding of their preferences, ultimately putting them in the right home.
- Twenty-three percent claim the most valued asset of their agent was in negotiations.
We’ve spoken about the importance of adopting technology within this space. What the survey results do not help with, however, is pointing to the right technology.
So What’s Next?
Personally, I’ve met with a lot of agents and discussed this topic. There’s a real challenge of wading through what appears to be endless options of apps and tools for agents to use to cover all of these needs, and no one-size-fits-all solution.
For many, this means simply managing your business using simple tools like email and spreadsheets. While this may work for you, it can often time leave a lot to be desired for your clients. At Homebloq, we understand this and are building software with both consumers and agents in mind. But we’re not alone: tech-powered firms like Compass are building end-to-end solutions for their agents, Homesnap is a great tool for agents, and there will be more client and agent facing, collaborative platforms to come.
So how will you create a tech-enabled experience for your clients?