We have just completed a survey that we sent to 14,000 of our AgentEvaluator home buyers and sellers. We sent the survey to two customer groups: those who bought or sold a home using a HomeGain real estate agent, and those who failed to select one of our agents.
Our goal was to get consumer feedback that our AgentEvaluator agents could use to attract more potential clients by tailoring their proposals to meet the consumers’ expectations.
We are still digging through the data, but the preliminary results are very important so we wanted to pass them along now rather than wait until we’re done.
- Nearly 9 out of every 10 customers who bought or sold a home using a HomeGain agent said that receiving a personalized proposal was either very or extremely important in their decision to select their agent. Only 4% said this was not a factor at all in their decision.
- 4 out of 10 expected to receive their first proposal within 4 hours of their profile.
- 1 out of every 4 consumers selected their agent within 24 hours, while 8 out of 10 selected their agent within 1 week.
The results are clear—home buyers and home sellers who closed with a HomeGain agent received agent proposals that addressed their specific needs as indicated in their buyer or seller profiles.
They also were clear that, while they expected to start receiving proposals quickly, the majority took as long as one week to select their agent.
Those who did not select a HomeGain agent had expectations that were similar to those who used a HomeGain agent, including the importance of receiving proposal that address the specifics the consumer noted in their profile.
In fact, the most critical factor in their decision to not select a HomeGain agent was the lack of a personalized proposal. Slightly over 7 out of 10 said this impacted their decision.
Since receiving a personalized proposal was critical to both survey groups, we thought it would be helpful to have the consumers tell you themselves what they want.
Here are a few representative quotes from those who did not select a HomeGain agent about the proposals they received.
- “The only real estate agent I contacted was the ONLY agent that personalized his proposal. All other proposals were completely automated…HomeGain would have been much more likely to gain my business if the agents who provided me with proposals actually read my profile and required home specifications. The agents need to READ the additional information from the client.”
- “One of the responses I received was actually addressed to the name of my street, not myself, and it was the same response I received approx. 3 years ago when I submitted an inquiry.”
- “The lack of personalization was, in general, startling.”
- “Some proposals seemed canned, like a quick response”
- “Most of the responses were canned and almost read like they had been taken from the same sample.”
- “I had the strong impression that the majority of agents who responded sent some sort of “canned” reply, not specific to my needs. In some cases the responses were irrelevant. I took the time to explain what I do and what I needed to accomplish but the agent responses were mostly prepared generic messages that they simply hit “send” to reply.”
- “I received canned proposals that reflected little thought or understanding. I immediately crossed all agents who submitted proposals through your website off my list.”
Consumers want us to know that they overwhelmingly want to receive personalized proposals in a timely manner, but not so fast that they have to sacrifice having their individual concerns addressed.
They also want us to know that they are not inclined to select agents who don’t customize their proposals and who offer them generic responses to their profiles, regardless as to how great the agent may be.