November 14, 2017 — Austin
The Texas REALTORS® released today a new report that gauges Texas homebuyer and seller satisfaction of working with a real estate agent. The inaugural Texas REALTOR® Satisfaction Index showed that a majority of homebuyers and sellers highly value the local market knowledge and expertise that Texas REALTORS® provide. Survey respondents cited word-of-mouth referrals and timeliness in communications as important factors in the selection and satisfaction of working with a real estate agent.
According to the report, Texas homebuyers and home sellers rated their experience of working with a Texas REALTOR® a 4.91 and 4.87 out of 5.0, respectively. Among those surveyed, approximately 98 percent gave a satisfaction rating of “good” or “excellent”, 1 percent selected “satisfactory” and less than 1 percent selected “poor” or “below expectations.”
Respondents’ satisfaction of working with a Texas REALTOR® was most likely to be impacted by the agent’s ability to communicate clearly and in a timely manner. Vicki Fullerton, chairman of the Texas REALTORS®, commented: “The Texas housing market moves fast, and it’s increasingly important for REALTORS® to be able to operate at the speed of the market. This means allowing for greater accessibility, setting communication expectations up front with clients and ensuring clear, timely communications so that homebuyers and sellers can feel confident at every step of the process.”
Despite the growing role of technology in the real estate industry, the Texas REALTOR® Satisfaction Index showed that more than one-third of homebuyers and sellers found their Texas REALTOR® through a referral from friends or family. Less than 5 percent of respondents found their Texas REALTOR® through an Internet search or online portal. Eight in 10 respondents indicated that they didn’t consider another broker if they had previously worked with a Texas REALTOR®. Texas homebuyers and sellers ranked a deep understanding of a client’s unique needs and local market conditions as the top two deciding factors in working with a Texas REALTOR®.
Fullerton concluded, “Being a Texas REALTOR® means striving to make a difference every day, not just in the lives of the homebuyers and sellers we serve, but in the communities in which we live, work and do business. That’s why you’ll often see Texas REALTORS® taking a stand on issues that impact our economy and quality of life, such as the recently passed Proposition Two which gives Texas homeowners easier access to the equity in their homes.”
The number of Texas REALTORS® has grown approximately 27 percent since 2010, now exceeding 114,000. In 2017, Texas REALTORS® remain committed to homeowner advocacy and in 2017 alone invested $4.96M to the Texas REALTORS® Political Action Committee (TREPAC) and donated more than $3M in Hurricane Harvey Relief through the Texas Realtor Disaster Relief Fund.