These infographics containing National Association of REALTORS® statistics show the various ways clients find and select a real estate agent to buy or sell a home. As expected, an overwhelming majority of those surveyed chose a real estate agent they had previously worked with or an agent referred by a friend, acquaintance or family member. Consequently, the foundation of a real estate agent’s business development plan should always start with staying in contact with past clients and people in the agent’s center of influence (COI).
How Sellers Found A Real Estate Agent – For the past decade over 60% of homeowners used a real estate agent they previously worked with or one referred by a friend, neighbor or relative. An astonishingly low number found a real estate agent by more traditional marketing mediums like signs, advertisements and mailers.
Real Estate Agent Repeats & Referrals – With consistently over 80% of home sellers stating that they would be likely to work with the same real estate agent that sold their last home, it is clear that staying in touch with past clients should be a priority for all REALTORS®.
Number of Real Estate Agent Interviews – Surprisingly home sellers aren’t that picky. Over 65% of homeowners have interviewed only one real estate agent before deciding who to list their home for sale with. So real estate agents should be more concerned about getting the interview instead of how they compare to other competing agents.
How Buyers Found A Real Estate Agent – Despite the fact that home buyers often find the house they want before they actually choose a real estate agent, over 50% of buyers still used a real estate agent they previously worked with or one referred by a friend, neighbor or relative.
All graphics above provided courtesy of Keller Williams Realty International
For more scripts and techniques for staying in contact with past clients and the people in a real estate agent’s center of influence (COI) database, please visit our real estate agent scripts library.