NEW YORK – Aug. 10, 2018 – According to the J.D. Power 2018 Home Buyer/Seller Satisfaction Study, overall satisfaction with the nation's biggest real estate firms rose among first-time buyers, repeat buyers and first-time sellers.
"Real estate firms are recognizing that their value proposition has shifted from that of information broker to trusted advisor; as a result, we're seeing increases in customer satisfaction in each of the segments of home buyers and sellers," says Craig Martin, senior director of financial services at J.D. Power.
"The challenge for these companies is to consistently demonstrate and communicate their value to current and potential customers," Martin adds. "Those who ensure trust and understanding are at the center of their client and customer strategies will truly differentiate from both traditional competition and those attempting to disrupt the industry."
The survey found that 88 percent of buyers begin their home search before choosing an agent, and nearly 20 percent of repeat buyers, 13 percent of first-time buyers, and 9 percent of first-time sellers did not use an agent.
In addition, over 40 percent of first-time buyers and sellers chose a real estate firm based on reputation, while repeat buyers and sellers make a choice based on their past experience with agents/salespeople.
Among other things, 47 percent of buyers and 55 percent of sellers used social media to find their agents – and first-time buyers also may use social media to find homes.
© 2018 Florida Realtors®