Consumer Survey: Agents Still the Go-To for Home Buying and Selling
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HARRISBURG, Pa., Dec. 3, 2024 ~ According to the National Association of Realtors® (NAR), a recent consumer survey has revealed that the majority of home purchases and sales are made with the assistance of a professional real estate agent. The survey, which is conducted annually, found that 88% of home purchases and 90% of home sales involved the expertise of a real estate agent.

Bill Lublin, president-elect of the Pennsylvania Association of Realtors® and a broker in the Philadelphia area, commented on the survey's findings. "These findings demonstrate the high value consumers place on having an agent by their side in the home buying and selling process," he said. "With the complexity of the process, professional expertise is more important than ever and so is excellent service. It's gratifying that our industry is earning high marks for customer satisfaction."

The survey also revealed that 90% of buyers expressed satisfaction with their agent's responsiveness, knowledge of the purchase process, honesty and integrity, knowledge of the real estate market, and people skills. Additionally, 88% of home buyers and 87% of home sellers reported that they would recommend their agent to others.

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Interestingly, only 6% of home sales were "for sale by owner," which is an all-time low since NAR began conducting its annual Profile of Home Buyers and Sellers survey in 1981. This further emphasizes the importance consumers place on having a professional real estate agent guide them through the process.

When it comes to finding an agent, personal referrals were cited as a common method among buyers. Forty percent reported finding their agent through a personal connection such as a friend, neighbor or relative. This trend was even more prevalent among first-time buyers, with 51% relying on referrals from their personal network. However, Lublin advises consumers to interview multiple agents before making a decision to ensure they find one who is right for them.

"It is crucial that your agent clearly details the services you will receive, and that compensation for their services is clearly defined and will fit your budget," he said.

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The Pennsylvania Association of Realtors® also recommends working with a Realtor®. In addition to being professional advisors who are experts in the language and steps of real estate transactions, Realtors® adhere to a strict Code of Ethics that emphasizes honesty and protecting client interests.

The association also reminds homebuyers that they must enter into a written agreement with an agent before touring a home with them. This requirement is part of a set of changes in the home buying process that went into effect nationally in August.

For consumers considering buying or selling a home, they can easily search for a Realtor® in their area on the Pennsylvania Association of Realtors® website. They can also learn more about what's new in the home buying process on the website.

The NAR survey included home buyers and sellers who completed a transaction between July 2023 and June 2024. The Pennsylvania Association of Realtors® serves over 39,000 members in the state.
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