2010 Home Seller Satisfaction
The J.D. Power and Associates 2010 Home Buyer/Seller Satisfaction StudySM, now in its third year, measures customer satisfaction of home buyers and sellers with the largest national real estate companies. Overall satisfaction is determined by examining the three factors for the home-buying experience: agent/salesperson; office; and variety of additional services. Four factors are examined for the home-selling experience: agent/salesperson; marketing; office; and variety of additional services. Overall satisfaction among home sellers averages 742 in 2010.
Among home sellers, Prudential Real Estate ranks highest with a score of 760 and performs particularly well in the marketing agent factors. Prudential Real Estate is the only company to improve in home-seller satisfaction in 2010, compared with 2009. The 2010 Home Buyer/Seller Study includes more than 3,000 evaluations from 2,817 respondents who bought or sold a home between March 2009 and April 2010. The study was fielded between April and May 2010.
J.D. Power and Associates offers the following tips to consumers who are buying or selling a home:
Finding the right agent to suit your specific needs is critical. J.D. Power research has consistently demonstrated that having the right agent is critical to a satisfying home-buying or selling experience. Due to the unique nature of real estate transactions, clients often form bonds with their agents, as a single buying or selling transaction can take several months or more to complete. For customers who have previously bought or sold a home, the right agent might be someone they've worked with successfully in the past. For first-time buyers, seeking recommendations from friends, relatives, and colleagues is critical. Increasingly, agents and brokers are advertising their services on the Internet, so this can be a good starting point for research, particularly for someone moving far away from their current location.
In addition to buying or selling agent, consider the additional services you may require. Buying and selling a home is a complex undertaking with many "moving parts" to consider. In addition to the real estate agent you work with, you may also need to work with a loan officer, a financial institution, title/escrow company, inspectors, appraisers, home warranty agents, movers, storage services, contractors, etc. One of the advantages of using a full-service real estate company is that they can assist with finding and coordinating some of these necessary additional services.
For sellers, marketing one's home should be a primary focus. In addition to finding the right agent, home sellers should pay special attention to tools used to market the home. When selecting an agent, find out their approach to open houses and online marketing, in particular. J.D. Power research finds that home buyers often search for homes online long before they engage a buying agent, or even attend an open house. Ask about which websites will contain the home listing, the number of home photos that can be included and if any special features will accompany the listing, such as virtual tours or mortgage calculators. Tools that assist prospective home buyers may help attract attention to the listing.
For buyers, it's important to understand the full cost of the home prior to making a purchase. It's prudent for home buyers to establish a housing budget and to expect agents to show homes in the appropriate price range. Particularly for first-time buyers, it's important to understand all the associated fees and expenses that go along with purchasing a particular home. These can include one-time expenses, such as "points" that lower mortgagte rates, title fees and appraisals, as well as ongoing expenses such as homeowners association fees, property taxes, or other specialized local taxes that can impact your monthly payments.
No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate