Time may mean money, but it also means satisfaction for most buyers and sellers with their agents.
According to J.D. Power’s 2017 Homebuyer/Seller Satisfaction Study, the amount of time agents spend with clients is directly related to their satisfaction levels. Informed and updated clients are happy clients. Receiving responses in a timely fashion leads to the most satisfaction among both first-time buyers and sellers, but also leaves repeat buyers and sellers happier with their agent.
For buyers, it’s their relationship with their agent that leads to the most satisfied customer. For sellers, they typically base their satisfaction level on their agent’s marketing tactics for their home. According to the study, consistent and updated methods of marketing leave sellers the most pleased.
If you have first-time buyers, they tend to be more impressed than those who have gone through the process before. The report found that first-time buyers were the most overall satisfied, compared to sellers or repeat buyers. The overall satisfaction score for first-time buyers is 857, followed by first-time sellers at 842.
“With the real estate market remaining strong, it is more important than ever that agents, buyers and sellers focus on the trade basics, especially for first-timers,” said Greg Truex, senior director of the at-home practice at J.D. Power. “When agents remain transparent, informative and responsive, they can greatly impact customer satisfaction and increase agent reputation and recommendations.”
While spending time with clients, along with superb marketing skills, generally leads to happy customers, referrals and recommendations are still important. Thirty-five percent of first-time buyers, and 44 percent of first-time sellers said they picked their real estate company by reputation, and 24 percent of first-time buyers and 17 percent of first-time sellers chose their company thanks to recommendations.