Consumer Survey: Agents Still the Go-To for Home Buying and Selling

News provided by

Pennsylvania Association of Realtors(R)

Dec 03, 2024, 10:30 ET

HARRISBURG, Pa., Dec. 3, 2024 /PRNewswire/ -- An annual consumer survey conducted by the National Association of Realtors^® has found that 88% of home purchases and 90% of home sales are made with the professional services of a real estate agent, demonstrating that consumers prioritize agent expertise in the real estate process. The survey also found that about 9 in 10 buyers and sellers would recommend their agent to others.

"These findings demonstrate the high value consumers place on having an agent by their side in the home buying and selling process," said Bill Lublin, president-elect of the Pennsylvania Association of Realtors^® and a Philadelphia-area broker. "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."

Ninety percent 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. Eighty-eight percent of home buyers and 87% of home sellers reported they would recommend their agent to others.

The survey found that only 6% of home sales were "for sale by owner," an all-time low since the National Association of Realtors^® started conducting its annual Profile of Home Buyers and Sellers survey in 1981.

Forty percent of home buyers reported finding their agent through a personal connection such as a friend, neighbor or relative. This trend was more pronounced among first-time buyers, with 51% relying on a referral from their personal network. Most buyers reported they only interviewed one agent before selecting one.

"Personal referrals are a common way to find an agent," Lublin said. "Still, consumers are advised to interview multiple agents to ensure they hire one especially 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."

The Pennsylvania Association of Realtors^® also recommends finding an agent who is 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 statewide association also reminds homebuyers that they must enter into a written agreement with an agent before touring a home with that agent. The requirement is part of a set of changes in the home buying process that went into effect nationally in August.

Consumers considering buying or selling a home can easily search for a Realtor^® in their area at parealtors.org/find-a-realtor. Consumers can also learn more about what's new in the home buying process at parealtors.org/whats-new.

The National Association of Realtors^® survey included home buyers and sellers who completed a transaction between July 2023 and June 2024.

The Pennsylvania Association of Realtors^® is a trade/professional association that serves more than 39,000 members in the commonwealth of Pennsylvania.

SOURCE Pennsylvania Association of Realtors(R)