Connect with us

Professionalism

Redfin survey: 1 in 4 homeowners have buyer’s remorse

Many homeowners regret their home purchase, and agents play a substantial role in that sentiment, which must be addressed immediately.

Published

on

pitfalls

According to a fresh survey from Redfin, executed by Harris Interactive, one in four American homeowners said they would not buy their current home if they had to do it all over again. Redfin claims that avoiding these regrets “starts with the right agent.”

“We commissioned this survey because Redfin agents have seen firsthand the pressure homebuyers face in 2014,” said Glenn Kelman, Redfin CEO. “With flash sales, bidding wars, price jumps and inventory crunches in many markets, it’s important to have a real estate agent who is just as motivated to have you walk away from a bad house as to pounce on a good one.”

Do consumers really love their agents?

The survey notes that 89 percent of Americans who bought or sold a home in the past decade have used a real estate agent, and of those, 47 percent say they “loved working with” their agent.

With only half being fans of their agents, clients’ age has an impact on their attitude, with 31 percent of homeowners ages 18 to 34 who have bought or sold a home in the past 10 years loved working with their agent, compared with 52 percent of homeowners ages 35 to 44.

Of those that did not indicate they were fans of their agents, 32 percent indicated they felt their agent was “OK, but I never really felt they were on my side or very helpful” and eight percent said their “agent was one of the worst parts of the home buying or selling process.” Ouch.

Other reactions from homeowners

Fascinatingly, buyers in the West had less remorse (only 20 percent) about buying their home, while homeowners in the Midwest had the highest rate of remorse at 28 percent. Home regret in the Northeast was 27 percent and in the South was 25 percent.

Redfin reports that the age group with the least buyer’s remorse was 65 and older, with 85 percent saying that they would buy their home again (compared with 72 percent of those ages 18 to 64).

People who have a HHI of $100,000 or more expressed more satisfaction with their homes (86 percent) than those with a HHI of less than $100,000 (70 percent). Those with a college degree or higher education had higher home satisfaction (82 percent) than those with at most some college education (72 percent).

The golden opportunity for agents

Real estate professionals have a golden opportunity to reduce buyer’s remorse by offering quality service. Redfin of course feels that they have the edge because of their business model, but the truth is that any individual agent can do the simple things like returning calls and keeping buyers in the loop to reduce the potential remorse factor so prevalent.

As Kelman referenced, the market is so fast paced in many areas that decisions are made more rapidly than in a normal real estate cycle. Further, another survey out this week revealed that homeowners have a lower real estate IQ today than just two years ago, which goes hand in hand with the opportunity practitioners have to educate consumers, and spend the same amount of time devoted to the transaction as was spent in a slower market.

Homeowners shouldn’t regret their purchase, and agents play a role in that emotion. Curbing remorse at ground zero can prevent the future anti-Realtor sentiment as consumers claim (as they have in the past) that they were pushed into a purchase, when the reality in most cases is that the tight inventory levels accelerated the process.

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

Professionalism

Recognize and use free time at work like the gift it is

(PRODUCTIVITY) Free time during your workday can lead to furthering your mind and productivity.

Published

on

user-generated content

Clocked in but clocked out

We’ve all had those slow days at work where we’re looking for ways to kill the time until the clock strikes five.

bar
While it can be tempting to use this time to text or mess around on the Internet, there are much better ways to use that free time that will make your future so much easier.

Cleanliness is next to godliness

First off, tidy up your workspace. Papers and items have a way of accumulating and may be distracting you even if you don’t realize it. By organizing your stuff and throwing away what you don’t need, you’re able to breathe and focus within your workspace.

It also does wonders for your work brain to clear up your email inbox.

Once that’s all done, plan out the rest of your work week. Make a list of the major goals you’d like to accomplish and then a sub-list of how you’ll knock those goals out. Update your calendar and make sure everything is on track.

Social media, networking, and research

It’s also beneficial to use this downtime to further yourself and your organization. Three ways you can do this is through: social media, networking, and research.

If you have access, take some time to look through your company’s social media and see what can be done to enhance it. Either throw up some posts yourself or pitch ideas to the social media manager.

Networking can be done in this small amount of time by sending out “catch up” emails to old colleagues, “welcome emails” to new clients or introduction emails to LinkedIn contacts.

Send them a “how’s it going?,” tell them what’s new with you, and see what they have going on. You never know where networking can lead so it’s always good to stay in touch.

With research, see what the latest trends are in your field and study up on them. This may give you new ways to look at projects and tasks at hand. And, it’s always beneficial to have continued learning.

Get Smart(er)

While on the subject of continued learning, take this time to mess around with something you may not feel completely knowledgeable of. Maybe dig around RPR data, perhaps practice using different computer programs it is never a bad a idea to nourish your brain.

Having free time during the workday is something of a gift. If you can help it, try not to waste it.

#FreeTimeNotWasteTime

Continue Reading

Professionalism

Bill Gates’ big regret of a simple command haunts him, what haunts you?

(EDITORIAL) If BIll Gates is still living with a big regret, it’s time to ponder your own, your own humanity, and consider moving past it in a healthy way.

Published

on

bill gates

It has come to light that Microsoft founder Bill Gates regrets some of the original design decisions of the PC. Namely, the CTRL+ALT+DEL command that allows you to log in to the computer, due to its lack of simplicity when trying to access a key part of a computer’s operating system.

I know Mr. Gates probably has other regrets when looking at the span of his more than thirty years involvement with being associated with one of the most profitable companies in the world. I am assuming that you also have some regrets you have also in regard to your own business and/or career.

We all do.

According to psychologists, regret occurs when an something perceived as an error is made that has some personal accountability tied to it. If you’ve ever been a part of a business team, supervising employees, or been the boss, you’ve had a wealth of personal accountability. And, since you’re human, you’ve definitely made some mistakes.

One of my former bosses told me after a long day, in which I made some mistakes: You did the best you could have with the information you had. More than likely, if you’re agonizing about that mistaken car reservation or wrong decimal point, you made a normal human error. Even if it isn’t a small day to day thing, but perhaps a big issue with some big consequences, you can move on from that. It will be okay.

A great way to move on from a failure or mistake in business is to use the situation as a lesson for the future. Chances are, if you’re a team leader who messed up a relationship with an agent, you will have more agents in the future to avoid that error with.

Learning from your mistakes, and using your errors as fuel to increase your motivation for the next project, is a great way to deal with regrets healthily. If you don’t process your regrets, you can deal with a wealth of mental and physical health problems like chronic stress, depression, and damage to the systems that regulate your hormones.

You will have mistakes, but those mistakes have gotten you to this point in your life. It’s impossible to guess how your life would change if you were able to go back and fix that one thing that feels like a turning point in your business life. Living in spite of regrets is one of the hardest challenges in life to face, but just like Gates, you will accept the past and move on.

Continue Reading

Professionalism

Working Woman’s Wife: on-demand assistants for busy female brokers and agents

Austin startup, Working Woman’s Wife, offers on-demand help for ambitious female executives juggling work and home life.

Published

on

working woman's wife

Over the past half century, women have made enormous strides into the workplace, including previously male-dominated professions. More than ever, women are serving as executives for major organizations, starting their own businesses, and finding success in the world of real estate.

Unfortunately, women’s success in the working world has not been counterbalanced by a reduction in their responsibilities at home. Statistics released by the U.S. Department of Labor last year reveal that women are still doing the vast majority of housework, including childcare, cooking, cleaning, laundry, and shopping for household amenities.

On an average day, half of all women are completing chores and errands, while only 19 percent of men are contributing to running the household.

Even when men do pitch in, they tend to spend less hours on housework, while women often cut into their work time or overbook and overstress themselves to manage both their careers and their households.

Helping ambitious women every day

An Austin-based startup wants to help ambitious women who “have long been without the advantages wives have provided to men.” The Working Woman’s Wife is an all-around personal assistance and concierge service fulfilling many of the housewifely functions that have long given men a leg-up in the business world.

bar
According to the Working Woman’s Wife, women complete an average of 18 hours per week of unpleasant and unpaid work, which means they have less time to advance their careers or spend quality time with their families.

When you hire a “wife,” she will complete many of these tasks for you, including office task such as emails and data entry, organization of your personal spaces or office, pet care, party planning and cleanup, cooking, laundry, running errands, personal shopping, and chauffeuring. They can even hang out at your place until the repairman shows up, so you don’t have to waste half a day of work taking care of a household problem.

How pricing for a “wife” works

Wives are available by purchasing packages of hours in increments of 30, 60, 80, or 100 hours per month, starting at $900 per month. Currently the Working Woman’s Wife serves the Austin, Texas area, but they are hoping to open chapters in Seattle, San Francisco, Dallas, Boulder, and the Silicon Valley.

Busy women brokers, real estate agents, and executives could obviously benefit from having someone take care of all of the “little things” that so often burden women who could be making more money, advancing their careers, and relaxing, if they had the time.

However, I can’t help but wonder who will be helping your “wife” run her own household while she is busily tending to yours. It’s great to see women wanting to help out other women, but maybe it would be better if men would step up to the plate. In lieu of $900 per month, perhaps you can convince your hubbie to pick up some of the slack instead.

#WorkingWomansWife

Continue Reading
Advertisement

Our Parnters

Get The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox!

Still Trending

Get The American Genius
in your inbox

subscribe and get news and exclusive content to your email inbox