Real Estate Brokerages Answer Consumers Push for One-Stop Shops
Imprev Thought Leader Survey Shows More Firms Offer Mortgage, Title and Home Warranty Services
Submitted by: RE Technology
BELLEVUE, WA--(Aug 27, 2013) - The day may be finally here when real estate brokerages deliver to home buyers and sellers the local "one-stop real estate shop" they've sought for years, as more real estate firms offer mortgage, title and home-warranty services.
According to a recent survey of top real estate executives by Imprev Inc. the "one-stop shop" is becoming the norm:
- A remarkable 75 percent of top real estate executives responding said their brokerage firms offer at least one major ancillary service;
- Mortgages are the No. 1 additional offering: 89 percent of the real estate firms that offer at least one ancillary service offer home loans;
- Nearly three-quarters (71 percent) offer title services;
- Nearly half (49 percent) offer home-warranty services.
"For decades, the National Association of REALTORS® has tracked growing consumer interest in a one-stop shop through its surveys," said Renwick Congdon, chief executive officer of Imprev, the real estate marketing software firm that works with 150,000 agents and brokers nationwide.
"Clearly, the industry's thought leaders are making it happen in their firms," he added.
According to a 2011 NAR and Harris Interactive study, the number of consumers interested in using a service provider affiliated with a brokerage firm increased 34 percent from the first survey completed in 2008.
In the NAR/Harris study, 78 percent of homebuyers said that one-stop shopping would save them money; 75 percent said it would make the process more manageable and efficient; and 73 percent said that a one-stop real estate shop would prevent the details relevant to their transactions from "falling through the cracks" -- as well as make the entire process "more convenient."
What advantages are real estate brokerage firms reaping from moving to a one-stop shop?
The Imprev Thought Leader Survey says the No. 1 benefit to providing ancillary services: Profits.
When real estate executives were asked to select the top benefits from offering ancillary services, 79 percent said "higher profits"; 70 percent said "one-stop marketing opportunities"; 62 percent said "increased customer satisfaction"; and 60 percent said "better quality control."
These were among the findings from the 2013 Imprev Thought Leader Survey conducted in late May. Poll respondents included top executives at leading franchises and independent brokerage firms responsible for more than one-third of all U.S. residential real estate transactions last year.
Imprev inaugurated the Thought Leader Survey in 2012 to provide information executives could share.
"This is a way for us to better understand our clients and help them learn from each other," said Congdon. The Imprev Thought Leader Survey is conducted in May and October of each year.
Imprev, Inc. enables real estate companies to build Marketing Centers and web applications on the industry's most advanced marketing platform. The Imprev platform serves more than 150,000 real estate agents worldwide. Imprev provides the industry's only mobile-ready Marketing Centers that fully work on desktop, laptop, iPad or Android tablet. Imprev offers a broad set of custom and "better than white-label" solutions for brands, brokers, agents and teams. Established in 2000, Imprev is headquartered in Bellevue, Wash., and is online at www.imprev.com.