My real estate resources are not made up from thin air. I actually do take the time to look up everything I use in my marketing and try to confirm its correctness before I send it out to my clients or future clients. Let’s be honest, everyone knows a real estate agent – probably more than one. The problem is exactly that, too many agents means the experience level and service declines by default. The National Association of Realtors (NAR) claims to have more than 1.3M members (2017) in their association and that number is rising. Their numbers only include paid members and only paid members are allowed to use the term “Realtor”. Real estate agents, who are not included in NAR’s total, and are not paid members cannot use NAR’s registered trademark “Realtor”. In other words, there are even more real estate agents on top of NAR’s membership number. Now you know why you probably know more than one real estate agent.
The real estate industry as a whole is on the decline in customer service, which is all real estate agents have to offer. According to top real estate coach Brian Buffini latest video “Brian Buffini’s Bold Prediction for 2018” he states how the real estate industry is in bad shape. It’s not me saying it, it’s one the real estate industries top real estate producers (salesman) and coach to thousands of real estate agents saying it. By the way, real estate agents have to be a member of NAR in order to use the MLS system, which NAR governs.
A lot of my information has been derived from NAR’s “2017 Member Profile“(this is a member paid product which I purchased).
I have a ton of informational links in the blogs I have written.
The number of homes I have sold, which are not all-inclusive because when I started in real estate the digital real estate world of the internet did not exist; the whitepaper listing books were manually updated. So, out of the approximate 1,100 homes sold since 1986, 530+ are digitally confirmed.
Here are some additional documented facts:
- Properties are now receiving offers via virtual reality alone (33% in 11 major cities NAR 06/29/17)
- Physical Open Houses don’t generate any sales (NAR 2017 Membership Profile, median agent results) not to mention the safety issues (NAR)
- DIY Home Seller’s net sales price is the same as using brokerage firm (NAR RealtorMag 8/18/17)
- 70% of home sellers expect a VR Tour of their home but the majority of agents (91%) don’t offer the service (RISMedia 05/24/17)
- One third of all homebuyers (up 19% from previous year) and 41% of Millennial buyers made an offer sight-unseen (Redfin survey 05/2017 article 06/28/17)
- Only 9% of Realtors use social media to market their property (contactually.com 01/08/16)
- 85 percent of buyers and sellers want to work with an agent who uses video, however only 15% agents actually use it. inman.com 06/08/17
- Homes listed with video get four times the inquiries of homes listed without video. inman.com 06/08/17
- Check out this infographic for more details.
You should get a guide when you’re ready to explore the jungle of real estate.