Annual Survey Reveals Homebuyers’ Preference for Real Estate Agents in Transactions

Insights from the Latest Consumer Survey

The National Association of Realtors® recently conducted its annual consumer survey, shedding light on trends in home buying and selling. The results are clear: a whopping 88% of home buyers and 90% of home sellers engaged the services of a real estate agent. This statistic underscores the critical role that agents play in guiding consumers through the often complex real estate process.

Bill Lublin, president-elect of the Pennsylvania Association of Realtors®, commented on the survey findings, saying, "These findings demonstrate the high value consumers place on having an agent by their side in the home buying and selling process." The complexity of real estate transactions necessitates expert guidance, and the survey indicates that agents are meeting these expectations particularly well.

In terms of client satisfaction, the results are equally impressive. About 90% of the participants expressed satisfaction with their agents in areas such as responsiveness, market knowledge, integrity, and interpersonal skills. This trust in agent expertise is coupled with an equally compelling willingness to recommend their agents to others: 88% of buyers and 87% of sellers said they would do so.

Interestingly, only 6% of home sales occurred without the assistance of agents—this marks the lowest percentage since the survey's inception in 1981. This trend illustrates the diminishing appeal of the “for sale by owner” model, highlighting consumers' preference for professional assistance.

Among home buyers, 40% found their agents through personal connections, with this figure rising to 51% among first-time buyers. This indicates a strong reliance on recommendations from friends, family, or neighbors, yet experts suggest potential buyers should consider interviewing multiple agents to ensure compatibility and understand the range of services offered. Lublin elaborated, stating, "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."

For those looking to navigate the housing market, it is also advised to seek agents who are Realtors®. These professionals are not only skilled advisors in real estate dealings but are also bound by a strict Code of Ethics that prioritizes client interests and honesty.

The Pennsylvania Association of Realtors® further emphasizes that potential buyers must establish a written agreement with their agent prior to touring homes, a requirement instated in August as part of new regulations impacting the home buying process.

Consumers interested in engaging a Realtor® or learning more about the latest changes in the buying process can visit parealtors.org or parealtors.org/whats-new for comprehensive guidance.

This survey targeted home buyers and sellers who completed transactions between July 2023 and June 2024, reflecting the evolving dynamics of real estate in today's marketplace. The Pennsylvania Association of Realtors® represents over 39,000 members, continually advocating for professionalism and transparency in real estate transactions across the state.