Ninety-nine percent of respondents to a new poll commissioned by Century 21 Real Estate said their agent added value during the home-transaction process, but members of the public seem to be taking a somewhat lackadaisical attitude toward choosing those who represent them.
On average, buyers and sellers interviewed only two agents before settling on a selection, the survey revealed.
“We’re seeing a real disconnect within the real-estate industry today, where homebuyers and sellers are extremely invested in the outcome of their transaction, yet they seem to be shortchanging themselves on the front end by rushing the vetting process to find the right agent,” said Mike Miedler, president and CEO of Century 21 Real Estate LLC.
“Every potential homebuyer or seller should be extremely selective in whom they entrust to shepherd them through this complicated process,” Miedler said.
A lack of effort up front can result in a mismatch between clients and agents. According to the survey, conducted by Wakefield Research, 34 percent of recent buyers are not very likely to rehire the agent they just worked with.
The survey also revealed that buyers may end up feeling a tad abandoned after taking possession of their new home. Nearly a quarter (23 percent) who used a real-estate agent said that their agent had not reached out to make contact with them after closing was wrapped up.
Those who used an agent to help them complete their transaction rated knowledge of the market (73 percent), advice and counsel (72 percent) and navigating stress (53 percent) as the top benefits provided by agents. And 92 percent of recent purchasers agreed that their agent was very patient throughout the emotional ups and downs of the home-buying process.
The survey findings also revealed that nearly seven in 10 Americans rank buying a home as one of their top three greatest life achievements. In fact, a home purchase was second only to getting married (76 percent), the survey revealed.