WAV Group’s new Buyer Agent Commission Study reveals many insights from buyers about their awareness, understanding and appreciation of how commissions work when buying a home.
Chief among these insights is the undeniable connection between transparency and perceived value on the part of home buyers. Those who indicated they were “totally clear” about the commission paid were 59% more likely to think their agent “completely earned the commission” than those who were unclear. In general, the large majority of buyers were satisfied with the services they received from their agent (88%).
Buying a home in any market can be complicated. No two transactions are exactly the same, and something always comes up right when you think all is clear. With this many moving parts, buyers appreciate clear communication and prompt responses. As one buyer indicated in the open-end questions, “My agent showed me many many houses and answered every phone call and email and text quickly and with answers I was able to understand. She walked me through every step of the process.”
Buyers recognize how hard it is to successfully purchase a home, especially in the recent housing market. They are appreciative and grateful for the creativity and hard work their agents deliver to help them successfully purchase a home. Agents earn their commission, and home buyers recognize that.
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