Do Buyers Still Use Realtors?
This question came to me from someone selling a home For Sale by Owner (FSBO). I asked this person if I could show their home to prospective buyers. This seller was shocked that buyers still used agents to help them buy homes given the growth of the Internet.
The short answer is yes, buyers still use Realtors.
The long answer is that buyers absolutely use Realtors! The National Association of Realtors (NAR) surveys home buyers every year to learn about trends, buying habits, and what is important to these buyers. Among other findings, the NAR learned that 90% of buyers use a Realtor to purchase their home.
Yes, 86% of buyers are searching for their home online. There are still lots of problems with online searches.
- Many home buyers fall for Trulia and Zillow’s slick marketing. They rely upon these sites without considering their accuracy. The Redfin/WAV Group Study of 10/03/2012 found that Trulia and Zillow missed one of every five MLS listings! This same study also discovered that 36% of all homes listed on these portals as “available” were no longer for sale, had already sold, etc. Imagine missing one in every five homes and over a third of the remaining properties weren’t even available! Realtors help their buyers find the homes Trulia and Zillow miss while removing what is no longer for sale.
- Data versus information is a major problem. The Internet makes raw data available everywhere. Anybody with even the smallest skill can locate reams of data. But what does that data mean? How can it be applied to a home search? How can be it be used? What does it really mean? Is it even valid? Good Realtors have the ability to interpret, apply, and correctly turn this data into valid information for their buyers.
- Speaking of valid, is the data even truthful? It’s no secret that the Internet is full of “fake news,” lies, half-truths, speculation, and gossip presented as unassailable truth. Most home buyers do not have the industry background to be able to always identify falsehoods, half-truths, and complete truths apart. Good Realtors help their buyers wade through that data. They throw out the fake news, present complete truths, and know when gossip is helpful versus when it is garbage.
My name is Mike Kwiatkowski and I am a Broker Associate with Coldwell Banker Residential Brokerage. I show my clients all of the available properties, turn data into useful information, and ensure that what you are hearing is truthful, valid, and useful. I want to help you find your next home! Please call or email; let’s talk about your wants, needs, and goals! My email is email@example.com and my direct cell phone number is 414-207-2938. I look forward to hearing from you!