Do you ever wonder why the real estate agent who helped you to buy your house 20 years ago is still sending you postcards or otherwise “keeping in touch”? Naturally, he or she wants your repeat and referral business. Some statistics from the National Association of Realtors lays out how home owners thought they’d choose their next Realtor as opposed to what they actually did do when hiring their listing agent.
The following charts are from the 2014 Profile of Home Buyers and Sellers from NAR.
When asked if they’d work with the same Realtor again, 68% of survey respondents said that they definitely would use the same one. Another 15% said probably, yes.
But when home owners did go to sell, a mere 22% actually did hire that same agent again!
Other studies indicate that the #1 reason why home sellers don’t go back to that last agent is because they couldn’t remember the person’s name. That translates to the agent not keeping in touch. The vast majority of Realtors want their past clients’ repeat and referral business, but most of them do a terrible job of post-sale followup.
So next time you see a postcard from your Realtor from 5, 10, 20 or more years ago, realize that your last agent is trying harder to keep front of mind with you.
If you have a real estate need or question, pick up the phone or shoot him or her an email. The odds are good that you are remembered, even if it takes your agent a minute to place you if it’s been a few years.