Survey shows their importance rising, although a good agent still the most prized commodity

BuzzBuzzHome
August 9, 2009

Home buyers and sellers are increasingly looking for something extra from real estate companies, according to the J.D. Power and Associates 2009 Home Buyer/Seller Study.

For both buyers and sellers, the agent is still the most important driver of overall satisfaction. However, the importance of agents has declined substantially from 2008, while the importance of additional services has increased considerably — by 12 percentage points among buyers and 8 percentage points among sellers. In addition, actual usage of many of these services has decreased from 2008, likely due to cutbacks made by real estate companies in response to a depressed market.

Approximately 64 percent of home sellers used a Web site listing to market their home in 2009, up from 61 percent in 2008.

Also noteworthy, the study finds that the proportion of first-time home buyers has increased considerably—to 56 percent in 2009 from 44 percent in 2008. Many of these first-time buyers may be attracted by improved home affordability and the perception of a strong buyer’s market. This presents both challenges and opportunities for real estate companies.

2009 marks the second year for J.D. Power’s Home Buyer/Seller Study, which measures the client satisfaction level.

Read the J.D. Power and Associates 2009 Home Buyer/Seller Study here.

Matthew Slutsky
BuzzBuzzHome Corp.

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