Recent studies have shown that both home-buyer and home-seller satisfaction is declining, with home-buyer’s satisfaction at an all-time low. The study is in its fifth years and found that home buyers have averaged a 789 out of 1,000 on a point system based on satisfaction with real estate agent or broker. This is down from 2011, where they scored a 797.

Not only are home-buyers dissatisfied, but seller’s numbers are down from 779 last year to 768. While this news can be frustrating for buyers and sellers, agents are also stressed out by the market, and what they can offer their clients. Some of the dissatisfaction is from buyer’s and seller’s unrealistic expectations and the misunderstanding of the current market. The majority of the ratings, however, are showing that client’s needs are not being met in this market.

The overall satisfaction for home-buyers is determined by agent, office and additional services, whereas the factors considered for home-sellers are agent, marketing, office and other services. As expected, heighted levels of satisfaction translate to higher levels of customer loyalty. In real estate, customer loyalty is invaluable, since agents not only work off of repeat customers, but customer referrals.

Here are just a few more statistics found from similar studies:

  • The majority of home buyers and sellers are experienced with the home buying or selling process. Over 60 percent have stated that they are repeat buyers and 70 percent indicated that they are repeat sellers.
  • Over one third of the customers have indicated that they plan on buying or selling a home in the next 12 months.
  • Of the home buyers interviewed, 17 percent had purchased a foreclosure and 14 percent of both buyers and sellers were involved in short sale home purchases and sales.

These numbers are not unexpected, since the market continues to fluctuate, making it difficult to predict prices and keep both buyers and sellers satisfied. Other reasons for the dissatisfaction may be that many real estate brokers are struggling to stay in business, and they aren’t as dedicated to client satisfaction as other Aurora Real Estate Brokers. In this market, very few brokers have been able to consistently satisfy their clients, and they’ve made it a point to educate their agents on the current housing trends, like qualified short sales specialists, HUD buyer’s agent qualifications and REO specialists. These brokers tend to thrive in bad markets, since they know how to satisfy their clients at any cost.

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