In reviewing the latest California Association of Realtors Real Estate Market Update I noticed some fascinating trends. Most notably, is the fact that internet homebuyers are much happier with their Realtor than those who don’t use the internet to assist with their home buying process. Internet homebuyers rate their overall satisfaction with their agent 4.5 out of 5, whereas traditional buyers rate their satisfaction as only 3.7. Which leads to the question what do internet savvy consumers want in an agent? Simple—instantaneous advice. In fact nearly ¼ of internet buyers expect instantaneous response time to their questions, and often times demands. Only 3% of Internet buyers are willing to wait one business day from their agents. It’s no wonder many of today’s agents are glued to their crackberries.
Internet buyers vs. traditional buyers were polled on 8 categories of satisfaction with their Realtor and on every category internet buyers were more satisfied. The biggest gap in the internet vs. non internet buyers was how well the agent kept them informed. Internet users rated this as 4.6 out of 5, whereas the non internet buyer rated this as a 3.6. Email correspondence is the name of the game and internet searchers hear from their agent every 4.4 days, whereas traditional buyers hear on average every 5.9 days. Internet buyers have virtual tours, photos, and comparable price information at their fingertips, which contributes to why they spend an average of 5.2 weeks working with an agent vs. traditional buyers who spend 8 weeks. Tech homebuyers want quick action, and answers to questions they can’t locate online, they need less handholding but when they want attention they demand it.
So what are homebuyers most frequently searching for online? House listings; in fact 81% of internet buyers view listing of homes online. Home buyers want the ability to preview properties online before they leave their home… and the same goes for previewing Realtors. Nine out of ten internet buyers found their Realtor online. Shifting through photos of smiling faces, internet users have the ability to research credentials, and read testimonials on a variety of agents and select the best professional to represent them. With many choices and resources at any savvy internet home searchers disposal, it’s no wonder why 94% of internet buyers felt satisfied to very satisfied with the value they received for what they paid their real estate agent, vs. the mere 52% of traditional buyers polled on the same question.
So, at the end of the day the discerning, demanding homebuyer has the most positive real estate experience.