Wednesday, March 21, 2007

Top 10 Qualities Consumers Look for in a Realtor

I am once again taking another real estate class to further my education. This weeks class covers business planning and will help me implement better systems to use in my everyday real estate life. We discussed some great topics, including a 2005 survey on what Minneapolis real estate consumers are looking for when they buy or sell with a local professional Realtor. Here is what they found:

Top 10 Qualities a Successful Realtor Must Have
  1. Must be Trustworthy - if you can't trust your agent, who can you trust?
  2. Putting Clients Interests First - if an agent cannot do this simple task, fire them immediately.
  3. Ability to Ask, then Listen - if the agent you interview to represent the sale of your home only talks about themselves and fails to listen to you, then move on to the next agent.
  4. Be Honest & Ethical - you would think with the Code of Ethics all Realtors must abide by, this would be a no brainer, but with the recent influx of inexperienced agents, it happens every now and then that you run into a dishonest person.
  5. Communicate - making sure all parties understand each other completely is paramount for a successful transaction.
  6. Knowledgeable - the only way to make a win-win situation for sellers and buyers is to negotiate, negotiate, negotiate. An agent must be able to think quickly on her feet and propose solutions to any problems that arise.
  7. Save Time - consumers usually do not have time to sell a home on their own, so they want an agent who can take care of all the details without troubling them everyday.
  8. Reduce Stress - the real estate process is very complicated. Buyers and sellers want a Realtor who can keep their legal liability in check and make sure all proper documents and disclosures are accounted for.
  9. Deliver on Promises - showing up on time for appointments and returning phone calls are very important to sellers and buyers.
  10. The "Recovery" - how an agent handles themselves after the transaction is an area many people need improvement. Follow up, taking care of problems, and just keeping in touch are deciding factors on whether a client will refer friends and family to their trusted Realtor.

The media would have you believe that the top two items that concern consumers the most are price and commission. This 2005 Survey from the National Association of Realtors shows that overall, during the height of the real estate boom, consumers had other requirements they felt were more important. Interesting how a actually asking the public what they want differs from the speculation heard from the doom and gloom media.

Are there any qualities that you would like to add to this survey? Please add them via comments if you do!

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