The Importance of Real Estate Agents in the Home Buying and Selling Process

The real estate market is constantly changing, and the rise of technology has had a major impact on the way properties are bought and sold. While online resources have made it easier for buyers to find properties that meet their needs, they are still turning to real estate agents for help in making their final decision. In this article, we will explore some statistics* and trends in the real estate industry and the important role that real estate agents play in the home buying and selling process. And how agents can leverage technology to help them win more listings, set their listings apart, and make their work more efficient.

51% of buyers found their their home on the Internet

95% of home buyers start their search online and according to the National Association of Realtors®, 51% of buyers found their home on the Internet. The Internet has made it easier for buyers to search for properties that meet their needs, and 55% of buyers walked through a home they found online. While the Internet is an important tool in the home buying process, it is clear that buyers still value the personal touch that real estate agents provide.

But agents need to recognize the tools that buyers are using to find homes and discover how those very same tools put them and their listings where the buyer is.

Value of Website Features

The study also found that photos, floor plans and virtual tours are the most valuable features on real estate websites. Professional, high quality photos are a must. And videos are also important, but fall below the value of the first three. And this makes sense. since watching a video is a passive activity and viewers can lose interest quickly. However, people actively engage with virtual tours. This highlights the importance of having high-quality visual content on real estate websites to attract potential buyers.

If you would like to perform a DIY visual audit of your online marketing, contact me and I will send you my free Visual Marketing Audit document. This document will help you discover how you look visually to potential customers online.

52% of buyers want their Realtor to help them find the right home

Despite the popularity of online searches, 52% of buyers said they want their Realtor to help them find the right home to purchase. This shows that buyers are still looking for guidance and support from real estate agents, even though they are using the Internet to find properties.

But you can still take advantage of online tools such as floor plans and virtual tours that you can send to your buyers. Floor plans help buyers decide on whether a certain space works for them or not. And with virtual tours, buyers can "walk through" many homes in a short period of time. This saves you time and helps you recognize motivated buyers because a buyer who chooses to visit a property in person, after viewing a virtual tour and studying a floor plan, is more likely to make an offer.

73% of buyers interviewed just one agent

The study also found that 73% of buyers interviewed just one agent when searching for a home, revealing the importance of first impressions in the real estate industry and the need for real estate agents to make a strong first impression and provide valuable information to potential buyers.

41% of sellers found their agent through referrals

The study also looked at the home selling process and found that 41% of sellers found their agent through referrals, such as friends, neighbors, or relatives. This shows the importance of building strong relationships with clients and providing excellent customer service. Are you following up and keeping in touch with past clients? A capable Customer Relationship Management  (CRM) system can really help.

82% of sellers contacted just one agent

The study also found that 82% of sellers contacted just one agent before selecting one to assist in selling their home. So if you find yourself giving a listing presentation to someone who called you, you probably have a pretty good shot at getting the listing. Ask yourself, "How do sellers find me? How does my online presence look to potential sellers?" Sellers are looking for professional, knowledgeable, helpful and friendly agents. Does your online presence give that vibe?

What sellers most want from real estate agents

The study also asked sellers what they most wanted from real estate agents, and the top three answers were:

• 21% wanted help pricing their home competitively
• 20% wanted help marketing their home to potential buyers
• 16% wanted help selling their home in a specific time frame.

These results highlight the importance of providing a full range of services to clients, including marketing, pricing, and negotiating skills. But how does your online marketing spotlight those services? Is your Realtor.com profile complete? What about your Google business profile? Do you have a professional looking website? If you are using your Broker's website, is your profile on there complete? If you have gaps in your online presence, what impression are you making to potential clients?

When it comes to marketing their property, do you show ALL the tools available to them? Don't assume that if a home is under a certain price that online marketing isn't worth it. If you took the listing, your seller is expecting you to be serious about selling the property. At the very least, you should be hiring a professional photographer. And today, the cost of photography is not at much as it used to be. If you take on multiple listings per year, consider my Executive Membership plan to see how it can save you money.

While the Internet has made it easier for buyers and sellers to search for properties and find real estate agents, the role of real estate agents is still as important as ever. Buyers and sellers value the personal touch and expertise that real estate agents provide, and they rely on real estate agents to help them make informed decisions throughout the home buying and selling process. Maybe one day these tools could make some agents obsolete. But the data shows that buyers and sellers want more than just tools. They want you!

*All statistics are taken from the 2022 Home Buyers and Sellers Generational Trends Report form the National Association of REALTORS® Research Group.