Study Finds that Only 22% of Consumers Would Use the Same Realtor Again

I recently worked with clients that hired me to professionally market their home for sale.

As with many owners in our area, they had high hopes their home would bring top dollar.  Their figures and my figures on what we each felt the house would bring in today's market did not match. My figure was considerably less than theirs.  They were not happy and they told me so. This is a big pill for sellers to swallow, and often one that some refuse to take.

But, it's reality.

They took all of my recommendations in getting the home "show ready".  And, they were in agreement to remove their pet each time there was a showing. They did a great job of keeping the house spotless, so the home showed beautifully.

As a couple of weeks passed, I continued providing them market reports on what was or was not selling in their neighborhood.  They were receptive to a quick price reduction within weeks (as I had them agree to it at the time of listing, if we did not have an offer).  I continued to tell them like it was. I didn't paint a rosy picture of an outrageous price I thought they might get. I asked, "Do you want to sell or not?  We've got to be sure that the house does not grow stale on the market."  The short sales and foreclosures have been undercutting prices in the area.

These owners received an offer on their home in just over 30 days, they negotiated it and accepted it.  It was less than they thought they were going to get for their home BEFORE I met them, gave them a better understanding of the market and went through the comparable sales in their neighborhood. But, realism set in for them.

The closing on their home was successful.

The sellers were happy.  They told me, several times, that they appreciated everything that I had done for them.  They are straight shooters.  They didn't mince their words. I enjoyed working with them.  They told me that I never waivered in what I told them from the first day I met them.  She said that I never fed them a line of BS just to get the listing, that I told them how it was, even when they didn't want to hear it.  They thanked me for my honesty. (I've been shown to the door once or twice by owners that didn't like my honesty very much.)

Ironically, I just finished reading an article from RISMedia.  A study by the California Association of Realtors was conducted on consumers, asking if they would use the same real estate agent again.  The number dropped from 79% in 2004 to 22% in 2009!  64% in the study complained that their home was on the market too long. 51% indicated that their house sold for much less than they had hoped for.

Often sellers that do not understand, are uninformed, or that have unrealistic expectatations blame their real estate agent.  The study went on to add that sometimes agents are to blame when they are not educating their clients about the state of the market and current conditions.

What do you think? 

Is an agent to blame when they are not educating their clients to current market conditions?

Sandy Shores REALTOR®, Melbourne/Palm Bay FL Real Estate

Brevard County, Florida's Space Coast Real Estate & Investing

I specialize in Residential, Investment & Relocations. 

We have a team of professionals that can help facilitate your Short Sale.

I buy, sell, rent, own and manage Investment Property.