Buyer/Seller Opinions and Preferences

April 2, 2010

In 2009, the REBGV commissioned Skunkworks Creative Group Inc. to conduct its latest body of research on consumers’s expectation from their realtors, and what gaps that may exist between client and realtor expectations. Read The Vancouver Sun article here >.

The study found that:

  •  With improved technology and the increased availability of information, homebuyer expectations of their realtors are shifting away from traditional norms.
  • Today’s homebuyers use the internet to familiarize themselves with the market and do their research the property they are interested.
  • They don’t expect their realtors to be an exclusive source of property information.
  • They expect their Realtors to play an important role for property search.
  • Homebuyers say it’s even more important to work with a realtor who will guide them through the intricacies of making an offer and negotiating an acceptable purchase price on their behalf.

In contrast, according to the research, the majority of realtors believe their most important function to a buyer is providing property information.

This difference presents an opportunity for greater symmetry in the realtor-client relationship.

The results show that:

  • The public generally holds a positive view of the real estate profession. About 75 per cent of respondents typically say they view realtors as knowledgeable professionals.
  • Seventy per cent indicate that realtors adhere to a high standard of professional conduct and enjoy a positive public image, and
  • Just under 70 per cent say realtors are highly skilled professional service providers.

The same survey results indicate that 58 per cent of public respondents believe a legislative framework exists that supports consumers in the buying and selling of real estate.

Today, nearly 60 per cent of homes purchased in the region each year are either condominium or townhome properties.

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