Economists' Outlook

Housing stats and analysis from NAR's research experts.

Twenty-Five Years of Customer Satisfaction

Common Sense- a happy customer is a repeat customer or refers new business.  The Profile of Home Buyers and Sellers, which began 35 years ago, has been collecting information on satisfaction of an agent from the seller’s perspective since 1989 and from the buyer’s perspective since 1995. Although the basic question of customer satisfaction with their agent has evolved over the past twenty years, the definitive measure of customer satisfaction lies in the question “would you use the same real estate professional again in the future?”. In 2004, the survey question was expanded to ask if you would use the same agent again or recommend the agent to others. Throughout the past 25 years the evolution of this question has changed, but consistently two-thirds of all respondents have been satisfied with their agent.

Since collecting data on satisfaction of agent, typically 67% of buyers would definitely use the same real estate agent again or recommend the agent. Within the home seller group, satisfaction was typically measured at 65 percent.

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To follow along with this series as we discuss the findings of 35 years’ worth of Profile data, check out the hashtag #NARHBSat35 on your social channels.  NAR Research will be releasing trend line data since 1981 to celebrate 35 years of home buyer and seller demographic research.

 

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