Last week at the Tom Ferry Summit in Anaheim, California, I heard some interesting statistics on how people choose a realtor.
31% Trustworthiness
23% Reputation
16% Friend of family
11% Knowledge
I found it interesting that 54% of people want trustworthiness and reputation. Only 11% care about knowledge. This really surprised me since we are supposedly in the information age?
What consumers want is a better understanding of the market and the mortgage process. They want agents with top negotiating skills.
Only 27% of realtors sell real estate as their primary income. 36-39% have had or do have an ethics complaint and/or arbitration action against them. 50% of the current agents will be retiring withing 10 years. This fits the old saying about realtors-
1/3 are coming
1/3 are going
1/3 do not know if they are coming or going.
Let's all continue to work hard to improve our industry and the reputation of realtors.
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