The Agent Selection Process
HomeLight is aiming to help you finding the perfect Realtor, based on their expertise.
It’s a great premise.
But do people care?
My friend’s brother recently got married, and he and his wife are about to buy a house.
How did they choose an agent?
The real estate agent they’ve known the longest. They didn’t interview a single other agent. For them, “trust” was the biggest – and only – factor.
How do you reach those buyers with that mindset? How do you persuade them that interviewing multiple agents is a good idea?
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Brad Yzermans
Posted at 18:46h, 28 NovemberThat’s a good question Drew. You just described how 65%+ of all people find an agent to represent them.
I guess one way is to have the government get involved and make sellers shop around and have listing agents give the seller a good faith estimate type document and to encourage reduced commissions & selling costs and educate sellers this is the best way to choose an agent….that’s one way.
Works with lenders right? Lowest quote is always the best deal…..shpp shop shop:-)
Drew Meyers
Posted at 22:01h, 28 NovemberNot a fan of government intervention in this.
Drew Meyers
Posted at 22:04h, 28 NovemberThe web design business is the same thing. And many people get royally screwed and end up with crap websites as a result.
Tough to get people to put in the effort to find the good companies, and pay the premium for them. Largely, because they have no idea what to look for.
Sam DeBord, SeattleHome.com
Posted at 07:48h, 29 NovemberThe lowest price isn’t always the best deal, and the commoditization of lending has given consumers a false sense of equality among lenders. We deal with some infamous lenders who are always the lowest quote but never close on time and hire cut-rate, inexperienced appraisal companies far more often. I don’t think this would help the agent-selection process.
Sam DeBord, SeattleHome.com
Posted at 07:54h, 29 NovemberIt’s a great question–can they be persuaded at all? Should an agent even try to convince the agent-married buyer to interview, or should they concentrate on the 1/3 of buyers who haven’t decided yet?
The only ways I’ve seen agents pull a buyer away from their “sister-in-law agent” are a top-tier sales reputation that can’t be matched, or a financial incentive. Kickbacks, rebates, freebies at closing can convince some buyers to switch, but that can become a self-defeating long-term plan.
Homelight has the right focus, purely on the buyer who is unsure of representation. 1/3 of all buyers is still a big pool of potential clients.
Karri Flatla
Posted at 15:22h, 30 NovemberI think there’s a fine line between chasing down the ‘unconvince-ables’ and being competitive (on skills/expertise, not fees). I choose the latter. Much more elegance and respect in simply BEING the choosable agent … in everything you say, do, blog about, etc. It requires us to take the long view which is hard to do but I believe it’s more successful for everyone in the end.
Greg Geilman
Posted at 08:44h, 01 DecemberI think the way through that gauntlet is to be trustworthy and organically become trusted by more people.
Agent Match, Some Competition for HomeLight - GeekEstate Blog
Posted at 11:28h, 11 November[…] (discussed previously here) has some competition in Realtor.com’s new Agent […]