Every home buyer is different, but there is one thing they all have in common during their property purchase journey – the need to trust their agent. In order to sell, you must build trust with property buyers. In 2019, 81% of home buyers who used an estate agent agreed. And like the old saying goes, first impressions count! The initial trustworthiness is the number 1 factor that buyers and sellers look for.
Another key factor is responsiveness (80%). Home seekers and sellers need an agent who is reactive and responds quickly to questions and needs. Responsiveness counts especially in significant transactions, like buying a new home. There are often many twists and turns during the buying process. Complete information and snappy advice help you to navigate difficulties and ultimately make the right decision. This article explains how to build trust with property buyers.
Provide Information and emotional support
How do you show you are trustworthy in a time where people try to avoid working with estate agents? Well, it’s important to understand there are two factors in building trust.
Firstly, you can build trust based on giving accurate information, which is called cognitive trust. At the same time, it’s important to nurture an emotional connection, which is done through human interaction. This is called affective trust.
Good agents build their relationships using both methods. They take responsibility for the parts buyers can’t do and understand that the purchase might be the most important of their client’s life. The best agents give the right communication at the right moment of the journey, whether emotional support or factual information.
Integrity, competence, transparency
Showing these qualities as an agent will build good relationships with your clients. The tricky part is to convince potential buyers that you are trustworthy while they know nothing about you, other than what they read online.
Research shows that over 70% who seek information to choose an agent use a variety of sources.
- 27% use online reviews to evaluate their estate agent
- 26% check the website of the agent to get more insights
- 23% look up the agent’s sales history.
- 21% try to find proof of the agent’s knowledge of the market and area.
However, referrals from family and friends remains the most important factor. This supports the key point that trustworthiness is the essential characteristic for estate agents. Build trust with your clients and they will become your greatest marketing tool.
Young buyers contact more agents
Younger buyers contact more agents and put more importance on online reviews and agent ratings when selecting their estate agent.
52% of all buyers only contact one agent. 23% contact two agents. The remaining 25% contact three or more. However, young buyers buck the trend with almost 60% of them contacting multiple agents. On average, millennials (2.7) contact one more agent than baby boomers (1.6).
Things to remember
- Take good care of your online presence. Reviews and customer testimonials are a reliable tool to establish trust. Video testimonials are the best way of building trust in the modern age.
- Use social media to reach out to your customers. The majority of posts should be educational and entertaining. A very small amount should aim at sales.
- Stand by your word. Don’t talk, do. Keep your promises and do what you committed to – every time! Trust will be lost already after one bad experience.
- Stay in contact. Be proactive while staying reactive. Better to be in touch too often than not enough.
- Listen to your clients. Clients want their problems and questions to be heard. Get back with a clear plan to address any issues that come up throughout the buying process.
- First-time buyers are insecure. Be aware of the steep learning curve of a first-time buyer – 45% of people who bought a home last year were in this category!
For more advice, check out our blog post on how to attract more buyers and sellers.