Buyers, Sellers Still Depending on Realtors® to Navigate Homebuying Process

Homebuyers and sellers are still depending on you.

According to a National Association of Realtors® survey conducted in May, 62% of sellers and 54% of buyers think a real estate agent’s guidance is valued during a pandemic and nearly 60% of buyers and sellers think real estate is an essential service.

In these uncertain times, many buyers and sellers are turning to technology to continue their home journey. More than 40% of buyers said they would buy a home without physically visiting it, thanks to online photos and tours, while 53% of sellers think it would be plausible to sell their home the same way.

But that doesn’t mean they want to do it alone. More than half of buyers (54%) and sellers (55%) said that it is important to have a Realtor® assist with virtual homebuying. Only 38% of buyers felt a Realtor® wasn’t as necessary when looking virtually as oppose.

Seventy percent of buyers and 67% of sellers reported that they feel comfortable completing business virtually, including parts of the homebuying process. Nearly two-thirds of both sellers and buyers want their agent to be well-informed about signing closing documents online, and more than half of buyers and sellers said they would feel comfortable completing this documentation electronically.

Even with more clients looking at homes virtually, they still depend on their agents. More than 60% of both buyers and sellers said a Realtor® should offer more in-depth videos and photos of homes beyond what buyers can find searching on their own. Half of buyers felt an agent could offer more valuable information from an online listing than the buyers could find on their own. Both buyers and sellers also felt that agents offer value by saving buyers the hassle of looking through all of the online listings.

Communication with clients remains key. The majority of both buyers and sellers prefer to talk on the phone, followed by video chat, such as FaceTime or Zoom. Still, more than half of buyers and sellers are happy to communicate via email.