In the Spotlight
February 23, 2017
How do you view your role as a real estate professional? What are your greatest strengths? What are the top challenges to growing your business? Get the survey results here.
Survey Reveals Top Strengths and Challenges for Real Estate Professionals
This time – the Spotlight is on YOU. Why? Because Freddie Mac knows you play a critical role in today's housing market. To better understand your strengths and challenges, we commissioned a survey by GFK that interviewed more than 500 other real estate professionals like you.
Click on each box in the image below to find out what we learned.
Your role as a trusted advisor
78% of real estate professionals say their clients find them to be a trusted advisor for navigating the homebuying process.
Top challenges when growing your business
55% of real estate professionals selected attracting buyers and sellers as challenges.
What’s working? Networking!
76% of real estate professionals with a referral network of lenders said their customers "always" or "often" use a lender they recommend.
Education – for you and your clients
Topics of interest include:
- Mortgage product options
- Down payment assistance programs
- And more!
Where else but on the Freddie Mac Real Estate Professionals Resource Center can you validate your own thoughts about your strengths and your challenges as real estate professionals – while at the same time gaining access to free resources to help you grow your business?
Find more details below.
Your Role as a Trusted Advisor
No surprise here that 86 and 84 percent of real estate professionals, respectively, take pride in: (1) their ability to provide local area knowledge; and (2) to help buyers find a home.
However, there could be opportunities when it comes to marketing yourself – including enhancing your business networks and learning more so you can earn more.
Top Challenges When Growing Your Business
It starts with getting clients in the door – buying, and out the door – selling.
Many of your top challenges center on marketing. In fact, more than half – 55 percent – of the real estate professionals surveyed select both attracting potential sellers and buyers as challenges they face.
Overcome these challenges by providing your potential and existing clients key resources to build trust and boost your referrals.
For example, get your name out there and educate clients at the same time with these customizable education marketing kits.
What's Working? Networking!
One of the areas where real estate professionals do well – in fact, very, very well – is...networking and developing industry relationships with lenders. And it's clear from the survey that your customers rely on your connections when the time comes to shop for a mortgage. In fact, more than three-quarters – or 76 percent – of real estate professionals we recently surveyed with a referral network of lenders said their customers "always" or "often" use a lender they recommend.
Eighty-four percent of real estate professionals have a select group of lenders to which they generally refer their clients. Of these, 73 percent have 1-3 lenders in their network and 24 percent work with 4-6 lenders.
Looking for even more opportunities to expand your network? Check the network and training calendar of the Resource Center to find new venues and other ways to connect with new lenders, housing counselors and other real estate professionals.
Education – for You and Your Clients
It all comes full circle and back to education as a foundation – for both you and your clients.
The survey says 78 percent of real estate professionals give themselves high marks for helping clients navigate the homebuying process…and yet there is a bit of a confidence gap when it comes to educating buyers on mortgages (50 percent) and down payment assistance (30 percent).
Check the "Be a Housing Industry Expert" page to stay up to date on housing market trends.
Read the results of the GfK survey here.
More to come from Freddie Mac to help you clear the path to homeownership and have a successful year!