As a buyer’s agent, you know the value of the services you provide. But do homebuyers? Apparently yes – to the point where 88% of buyers purchase their home through an agent.1 The challenge, however, can be finding out just what buyers value in a buyer’s agent. And in New York City, those values take on a life of their own.
Based on data from the 2021 Home Buyers and Sellers Generational Trends Report by the National Association of REALTORS®, as well as insights from top Experts, this guide examines what many buyers value and want from their agents, such as:
- Honesty and trustworthiness
- Help understanding the purchase process
- Negotiation skills
- Local expertise
- Market insights
- Pointing out features – and flaws
- A strong network
Honesty and trustworthiness
Not surprisingly, these characteristics were ranked highest in importance in the NAR report. Always act with integrity, throughout every single interaction.
Buyer’s agents are expected to uphold confidentiality when it comes to the buyer’s financial and personal information. Some buyers work with an agent they know personally, such as a friend or family member, but others value confidentiality so much that they’d rather work with someone they don’t have a personal relationship with. Make the buyer feel as comfortable as possible sharing their most sensitive information with you.
Help understanding the purchase process
The homebuying process can be complex, and buyers depend on their agent to explain it to them and answer any questions they have. 94% of buyers in the NAR report considered knowledge of the purchase process to be “very important.” This is even more true in NYC, where the process is unique and somewhat esoteric. Be there to not just explain it, but walk them through it.
Help with negotiation – of the terms of sale, or the purchase price – is also of high importance to buyers. It’s an area where you can really advocate for the buyer and prove your value to them.