Real estate is a business based on relationships and trust between the client and the agent.
From the most recent Profile of Home Buyers and Sellers, we know that 41 percent of recent home buyers found their agent through a referral from a friend, neighbor or relative and 9 percent of buyers used an agent that they had used previously to buy or sell a home.
Nearly half of first-time buyers used an agent they found through a referral and 12 percent of first-time buyers found their agent on the Internet. First-time buyers are more likely to find their agent on the Internet than repeat buyers.
Among repeat buyers, 36 percent of buyers found their agent through a referral, and 14 percent used an agent they had worked with before to buy or sell a home.
For more information on the Profile of Home Buyers and Sellers, click here.
Jessica Lautz is the Managing Director of Survey Research and Communications. Jessica analyzes data and writes annual studies such as the Member Profile, the Profile of Home Buyers and Sellers, and the Commercial Member Profile.