Do you want the good news first, or the bad? According to a recent survey of potential homebuyers and sellers in Canada, consumers recognize the need to hire a Realtor – 77 per cent of them had in the past and 86 per cent said they likely would again – but, more than half feel that the primary motivator for those working in the profession is money.
The national research firm Leger conducted the online survey in late January 2021 on behalf of RE/MAX Canada. The results contain important takeaways regarding consumer sentiment of Realtors and what you can do to change it.
Buyers and sellers acknowledge buying and selling isn’t simple; but are willing to forego using a professional
- 41 per cent of Canadians claim they aren’t knowledgeable when it comes to buying or selling real estate
- Yet 50 per cent of respondents still expressed interest in buying or selling a home using a do-it-yourself platform for its perceived efficiency, ease, and convenience
- And who is most likely to bypass using a Realtor? Millennials – the largest group of potential buyers and sellers in Canada – 57 per cent would use real estate technology instead
In the middle of one of the busiest housing markets ever: What do consumers want from Realtors?
- 91 per cent say that the top must-haves in their Realtor are ethics in business, patience, active listening, and empathy (Others that ranked high: honesty/transparency, trust, and effective communication)
- In conflict with the hope that Realtors are honest, a third of Canadians (32 per cent) believe that Realtors do not accurately represent their experience or credentials
- Eight in 10 respondents (81 per cent) say they would be more likely to work with a Realtor if they had a certification in professionalism
One positive is that over 50 per cent of survey respondents were either satisfied or very satisfied with their experience working with their Realtor.
Bottom line, this survey suggests that the profession AND Realtors have more work to do to educate the public on the value that Realtors provide to guide, advise, and protect their clients. For more detailed survey results, click Canadian Real Estate Industry: Consumer Sentiment Survey (remax.ca)