DENVER, Oct. 25, 2021 /PRNewswire/ -- Today, RE/MAX, LLC,
one of the world's leading franchisors of real estate brokerage
services, released survey findings on emerging real estate trends,
on both the agent and consumer sides of the transaction, and what
they mean for the future of home buying and selling.
The survey, which was commissioned by RE/MAX in partnership with
its agency of record Camp + King and conducted by leading consumer
insights agency Canvas8, explores the cultural context and
influential trends set to shape the real estate and housing
landscape across the United States
and Canada. The methodology
included expert interviews, third-party desk research and trend
analysis, agent and consumer perspectives, and a survey of 5,000
people in the U.S. and Canada who
have been involved in the housing market in the past 12 months or
are planning to be in the next 24 months.
Key findings include:
Virtual Tools are Enabling People to Plan for and Manage
Their Next Move Before Setting Foot in a Property
For both
first-time and experienced home buyers, research is mostly
conducted online – long before any viewings take place. Whether
through video walk-throughs, exploring a neighborhood on Google
Maps, or browsing detailed property descriptions, home buyers and
sellers are generally well informed before contacting an agent.
- 94% of North Americans who are searching for properties use
online platforms to do so.
- 64% of Millennial home buyers have been communicating more
virtually with real estate agents due to the pandemic, compared to
44% of Gen Xers and 25% of Baby Boomers.
- According to The National Association of Realtors (NAR), across
the U.S., 70% of buyers and 67% of sellers felt comfortable
conducting real estate business on a computer, including reviewing
and signing documents electronically.
On-the-Ground Expertise Cannot Be Replicated
Digitally
The growing presence of technology in the home
buying and selling journey in no way diminishes the essential role
agents play in the process. Home buyers and sellers recognize the
value of a real estate agent and the benefits real-life
interactions add in one of the most complex financial transactions
they will ever make. Technology streamlines the overall process,
but agents provide essential expertise to their clients –
understanding the process, encouraging action, providing financial
guidance, and marketing a home.
- 21% of North Americans who are selling their home want their
agents to provide more value by helping them understand the process
as a whole.
- Across all generations, consumers in both the U.S. and
Canada rank trust and familiarity
with an agent as the most important factor when choosing an
agent.
Trust, Familiarity, and Ease of Communication are the More
Important Traits of Agents to Consumers at the Crucial Stages of
the Home Buying and Selling Journey
With the scale of such
an investment top of mind for most consumers, the personalized
support offered by an agent remains fundamental to the key
moments in the journey (pricing, negotiating, and closing) as
people seek out the extra level of attention and human connection
that they can provide.
- 61% of survey respondents indicated trust and familiarity would
increase in importance when choosing an agent in the next two
years. 60% cited ease of contact and prompt responses and 59% said
online reviews would increase in importance.
- Regarding preferences for connecting with real estate agents,
71% of survey respondents indicated they'd prefer a phone call,
followed by text and email at 62% and 61% respectively.
"The big takeaway of this survey is that skilled, experienced
real estate agents are the key to consumers achieving their real
estate goals," said RE/MAX, LLC President Nick Bailey. "Last year, consumers had
plenty of time to compile their list of what they want in their
next home, and the most successful agents will be skilled at
helping buyers find a home that either checks all of the boxes or
can be updated to do so. Whether it's helping sellers price their
home strategically or helping buyers win a competitive bidding war,
agents – armed with skills and great technology – provide an
invaluable service. And consumers clearly recognize and want that
expertise in their corner."
The entire "Future of Real Estate Report", which explores
consumer's sentiments and values toward buying, owning and selling
homes can be found here.
About the RE/MAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC
is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than
140,000 agents in more than 110 countries and territories. Nobody
in the world sells more real estate than RE/MAX, as measured by
residential transaction sides. RE/MAX was founded in 1973 by
Dave and Gail Liniger, with an
innovative, entrepreneurial culture affording its agents and
franchisees the flexibility to operate their businesses with great
independence. RE/MAX agents have lived, worked
and served in their local communities for decades, raising millions
of dollars every year for Children's Miracle Network Hospitals® and
other charities. To learn more about RE/MAX, to search home
listings or find an agent in your community, please
visit www.remax.com. For the latest news about RE/MAX, please
visit news.remax.com.
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SOURCE RE/MAX, LLC