When making important financial decisions, it is critical to work with a professional intermediary that you can trust. Whether it is buying a home, obtaining financial advising, or purchasing insurance, having a trusted intermediary is extremely important. Agentero, a digital insurance network, recently conducted a survey looking at public perception of individual intermediaries. This survey primarily focused on real estate agents, financial services professionals, and insurance agents. Although the results strongly supported the use of real estate agents, there were differences by generation.
Generational differences
Prior to discussing the generational differences, we will first define each generation:
- Baby Boomer: born between 1955 – 1964
- Generation X: born between 1965 – 1980
- Millennials: born between 1981 – 1996
- Generation Z: born between 1997 – 2012
Overall, 72% of respondents have used a real estate agent. As for whether they would use a real estate agent again in the future, the responses differed by generation and were as follows:
- Baby Boomer: 75% would use a real estate agent again
- Generation X: 75% would use a real estate agent again
- Millennials: 80% would use a real estate agent again
- Generation Z: 71% would use a real estate agent again
Summary
Whether or not a consumer will use an intermediary such as a real estate agent is based strictly on trust. As evidenced by the results of this survey, most consumers have hired a real estate agent and will do so again. With this said, it appears as though some work may need to be done with the younger generation. Young consumers are more skeptical that intermediaries have their best interests at heart. In closing, it appears as though young consumers tend to question an intermediary’s motives while older consumers tend to be more trusting. As with hiring any professional, it is always beneficial to have a recommendation from someone that you already trust. Furthermore, you may want to ask for references from prior clients from the real estate agent. The one thing that is certain is that sellers that hire a real estate agent tend to sell their property for a higher price in less time. In addition, buyers that hire a real estate agent oftentimes get a better value while avoiding unforeseen pitfalls.
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!
