(4/15/2011) Erate Exclusive - In an already tough no-holds-barred market,
sellers may be working against themselves when they decide what's included
in a listing and in the way they choose an agent.
Buyers are looking for photographs, mapped locations, room sizes and
floor plans to help them size up a home.
Sellers are more apt to give them listings with virtual tours and they
select agents based on factors that don't always jibe with buyers'
interests.
A new HomeGain survey shows a distinct disconnect between sellers and
buyers regarding what information is desired in a property listing. Most
home sellers select listing agents based on fees, web presence and office
location rather than on their specific marketing plans.
In a buyer's market that's already working against sellers, it behooves
them to be aware of what buyers really want.
"It's no surprise that photographs, maps and floor plans were popular
with home buyers," said Louis Cammarosano, HomeGain's general manager.
"It is surprising, however, that a large majority of home sellers did not
select agents based on the agent's specific marketing plans designed to meet
buyers' interests, but rather on the basis of fees and an agent's office
location."
The survey isn't clear, but perhaps sellers' preoccupation with the
listing price in a depressed housing market is making them determine where
they can pinch pennies. Sellers can save thousands if the can negotiate to
pay a smaller commission.
HomeGain's "Home Buyers and Sellers Listing Preferences" survey asked
more than 1,000 home buyers to rate, on a scale of one to five, the
importance of certain home listing amenities and information including, but
not limited to, the number of photographs available, neighborhood
information, virtual tours and interactive floor plans presented in
connection with home listings.
The results show that the most important listings feature buyers want to
see is a large number of photographs, followed by mapped location and room
sizes.
Buyers' Top 10 Most Sought Property Listing Features
1. Wide selection of photographs (4.3)
2. Location of the property on a map (4.1)
3. Room sizes (4.0)
4. Floor plans (3.9)
5. Town name (3.8)
6. House number (3.57)
7. Street name (3.57)
8. Room description (3.51)
9. 360 virtual tours (3.4)
10. Information on local services, including shops and schools (3.2)
Buyers were also asked to rate their interest in basic, 3D and
interactive floor plans. A basic floor plan with photographs was the most
appealing (3.7), followed by 3D floor plans with virtual tours or
photographs came in second with a 3.4 rating.
Less interest was indicated for interactive floor plans that allow for
full customization like dragging and dropping furniture (3.1) or adding and
removing bedrooms (3.0), HomeGain said.
Approximately 800 home sellers were asked to identify their top three
factors for selecting a short list of lising agents.
Twenty-nine percent said agent fees were the main factor considered to
narrow down their choice of agents.
Twenty one percent of sellers indicated that having an agent with a
strong web presence was an important criterion in helping to select an
agent.
Sellers' Most Important Factors In Choosing Agents
1. Fees (29 percent)
2. Web presence (21 percent)
3. Use of virtual tours (13 percent)
4. Office location (11 percent)
5. Sales board visibility (9 percent)
6. Newspaper advertising (8 percent)
7. Community involvement (6 percent)
8. Use of floor plans (3 percent)
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