Buyers and Sellers Both See Agents as Strategic Partners

Home buyers and sellers are usually self-starters when it comes to shopping for a home or preparing one for sale. But they also seem to know their limits and turn to agents and brokers at key points to navigate the process and seal the deal.

And while they generally value agents for different services, home buyers and sellers are united in seeking agents who can be a strategic partner.

Overwhelming majorities of buyers (82%) and sellers (83%) across all generations enlist an agent or broker at some point and rely on them for referrals and expertise, according to the Zillow Group Consumer Housing Trends Report.*

Buyers’ wants and needs

Most buyers (92%) who purchase with the help of an agent start their home search by themselves. Once they find a home that piques their interest, they usually connect with an agent to continue the search and provide strategic advice and guidance.

In some cases, the buyer-agent relationship is a collaboration involving shared responsibility. In others, the agent does the bulk of the work, especially in areas involving strategy and expertise. 

Among the services most valued by buyers who work with agents:

• Organizing and submitting paperwork associated with the purchase (87% find this service very or extremely valuable)
• Conducting private home tours (84%)
• Leading contract negotiations (84%)
• Providing guidance throughout the process (83%)
• Offering guidance on legal terms and requirements (79%)
• Helping shape the details of the offer (78%)
• Gaining access to for-sale homes that are not yet publicly listed on the MLS (75%) 
• Recommending mortgage lenders and inspectors (75%)

Younger buyers, who are more likely to face stiff competition in the urban markets they tend to favor, especially value an agent’s negotiating skills and strategies to help them prevail on an offer. Eighty-four percent of Gen Z buyers, 73% of millennials, 70% of Gen Xers, 65% of boomers and 59% of silent gen buyers who use an agent rank those qualities as very or extremely important.**

Sellers’ wants and needs

Sellers are more likely than buyers to enlist the help of an agent (85% of sellers versus 74% of buyers). That’s likely because 64% of sellers also are buying another home, often simultaneously.

Among the services most valued by sellers who work with agents: 

• Finding interested buyers (85% find this service very or extremely valuable)
• Having photos taken of the home (82%)
• Organizing and submitting sales paperwork (82%)
• Providing guidance throughout the process (80%)
• Leading contract negotiations (80%)
• Promoting the listing on real estate sites (78%)
• Hosting open houses and private tours (77%)
• Offering guidance on legal terms and requirements (75%)
• Determining the home list price (75%)

While sellers typically look to agents for pricing advice, older generations are more likely than younger generations to seek agents’ advice to determine the list price: 79% of boomers and silent generation buyers, 76% of Gen Xers, 69% of millennials and 61% of Gen Z buyers who work with an agent say they value the agent’s advice in coming up with a list price for their home.

The takeaway:

• Talk strategy. Show clients how you can get them across the finish line. 
• Involve them. Younger buyers are especially keen on taking the lead. Ask them how they want to be involved and where they want to use your expertise.
• Show your results. Buyers, especially in urban areas, place high importance on a strong sales history and a number of recent sales. 
• Make your listings shine. Sellers highly value photos, video and other media of the home. Give them an idea of what their listing might look like.
• Explain the process and how you’ll be there for them for the duration. Even if they’re not first-timers, it may be many years since they’ve bought or sold a home.
• Cut through the jargon. Speak simply and offer a clear vision of the overall process. 
• Tout your relationships with other experts. Buyers and sellers look to agents for recommendations on inspectors, mortgage brokers, photographers and the like. Having an excellent roster of pros to call on will enhance your brand.

*Includes data from the 2018 and 2019 Zillow Group Consumer Housing Trends Report. A buyer is a household who has purchased a home in the past year and moved residences. A seller is a household who has sold a home in the past year and moved residences.

**The generations span the following ages in 2019: Gen Z (18-24), millennials (25-39), Gen Xers (40-54), boomers (55-74) and the silent generation (75+).