Understanding Today's Homebuyer
What follows is the result of a telephone survey of 1400 California homebuyer's who closed escrow in the first quarter of 2011
1. Of the 1400 Homeowner's
94% used an agent
58% found their agent online
56% interviewed at least 2 agents
51% Googled their agent (have you googled yourself lately)
93% were receptive to communication via social media
54% would work with their agent again
2. Question: How did you find your agent?
9% had worked with agent previously
3. Question: How many agents did you interview?
Two + 20%
4. Question: Why did you choose your agent?
Most Responsive 28%
First to Respond 17%
Worked with agent before 18%
Most Aggressive 16%
Most Knowledgeable 16%
5.Question: How do you want to communicate? Actually Communicated
Email 73% 70%
Telephone 37% 50%
Text 32% 1%
Twitter 21% 0%
Facebook 14% 0%
In Person 6% 3%
6. Question: How important is response time?
Very Important 57%
Response time was critical - expected response time was shorter than the actual response time. Over 1/3 wanted instant response (Don't we all!).
7. Question: What did your agent do that was satisfactory?
Worked Hard 55%
Found the Best Home 55%
Quick to Respond 31%
Negotiated Good Deal 29%
8. Question: What did your agent do that was not satisfactory?
Slow to Respond 51% (WOW!)
Communication Problem 19%
Didn't Negotiate Well 12%
Showed the Wrong Houses 3%
9. Question: What behavior by your agent would you change?
Better Understanding of the Market
Better Understanding of the Distressed Market
10. The average buyer spent 4 month researching before contacting an agent, viewed 12 houses in 8 weeks. They were motivated by affordability. They used the following website in this order.
Real Estate Company Website
11. Question: What was most attractive to you online?
52% of buyers used the social media
What are your thoughts? Conclusions?