Good REALTORS^® are “people” people. They are skilled communicators. Perhaps more importantly, they’re skilled listeners. But sometimes it’s hard to get an accurate read on someone, which could hurt your business if that someone is your customer or client.

When that happens, do you ever wish you could just look that person in the eye and ask, “a penny for your thoughts?”

We had the same feeling about your buyers and sellers, so in mid-December, we asked them. More precisely, we asked 656 homeowners, buyers and sellers in Wisconsin to tell us about their home, their real estate transaction and their REALTOR^®. 

We began by asking them why the housing market was stronger today than over the past few years: 39 percent said because more people are working now; 32 percent said because mortgage rates are more affordable; 19 percent said because prices for homes on the market are good. And 12 percent said it’s because home prices will not be going any lower.

Next, we asked buyers about what mattered to them. Items that buyers ranked “essential” and/or “very important” included:

• Buying a home that they could afford, including mortgage, utilities and taxes (88 percent).
• Being in an area with good schools (60 percent).
• A home that didn’t require major repairs (59 percent).
• A home that had a nice, well-equipped kitchen (59 percent).
• A home with at least two bathrooms (58 percent). 

Similarly, we asked sellers what mattered most to them. Among those sellers who sold in the last five years, they ranked the following items as the most significant:

• Dealing with potential buyers who were pre-qualified for credit (77 percent).
• Having a REALTOR^® …
  • Make sure all the legal requirements and forms were taken care of appropriately (76 percent).
  • Take care of advertising and showings (75 percent).
  • Help secure the best price possible (72 percent).
  • Help the seller understand what’s going on and where they stood at any given time in the transaction process (63 percent). 

When asked about the most important skills REALTORS^® bring to a transaction, survey participants responded with the following:

• 31 percent said understanding the regulatory and legal requirements. 
• 29 percent said sales, advertising and marketing.
• 28 percent said paying close attention to the wishes of customers.
• 26 percent said property appraisal and market value assessment.
• 25 percent said knowledge of the community and neighborhoods.
• And 11 percent said understanding financing options.

Of the survey participants, 95 percent thought that REALTORS^® were licensed by the state, but when asked what level of education they thought most REALTORS^® had achieved, 39 percent said a technical college degree; 38 percent said a college/university degree; 17 percent said a high school degree; and just 1 percent said a post-graduate university degree. 

We also asked survey participants about professional designations like the CRS and ABR: 28 percent said they were unaware of such certifications, but 44 percent said they would be more likely to pick a REALTOR^® who had completed such advanced education and training. Twenty-five percent said that certifications awarded by the REALTOR^® association would not influence them one way or the other when selecting a REALTOR^®. 

Having said all that, most consumers feel REALTORS^® are by-in-large, well-qualified: very well qualified (29 percent), somewhat (57 percent), not too (4 percent), and not at all (1 percent). Nine percent didn’t know or weren’t sure.
Consumers identified the following challenges and opportunities facing Wisconsin over the next few years:

• Making sure children get the education they need to succeed in today’s global marketplace (77 percent).
• Creating new jobs and growing the economy (75 percent).
• Controlling/stopping excessive government spending (59 percent).
• Encouraging better, appropriately flexible, bank lending practices for businesses and real estate (56 percent).
• Protecting the housing market from tax and regulatory policies that would threaten the ability of consumers to become homeowners (53 percent).
• Reducing property taxes (50 percent).
• Controlling/stopping excessive government regulations (47 percent). 

Asking consumers for their thoughts on the marketplace and on REALTORS^® gives us great insights, worth much more than a penny. This information will be used by the WRA Strategic Planning Committee, WRA board of directors and staff to help us design and prioritize the programs, services and issues that will help REALTORS^® meet consumer needs and expectations. From my perspective, that helps you stay relevant to consumers and us stay relevant to you. That’s my two cents.