MIAMI/ APRIL 02, 2019 (STL.News)
Results from a new survey conducted online by The Harris Poll on behalf of Richr found that over 7 in 10 of Americans (72%) think real estate commissions of 6 percent (i.e. $6,000 per $100,000 of home value) are disproportionately high compared to the amount of effort required to sell a home, and (75%) believe real estate agents should lower their commission since new technology makes their jobs easier.
As a result, a majority of Americans (74% percent) would like there to be alternatives to traditional real estate agents. Older Americans (76% of those ages 55 and older vs. 69% of those 18-34) and those who have higher incomes (76% of those with a total household income of $100k or more vs. 70% of those who make less than $50k) are more likely to say this.
The survey findings highlight the relevance of innovative real estate technology platforms such as Richr, which enables sellers to list and market their home online for FREE. Richr is the first and only company to offer comprehensive digital marketing with no commissions, no flat fees, no upsell..
“I really relate to these survey results on a personal level. When I moved to the United States from England, I was shocked to learn American agents receive a nearly 6% commission for selling a home, compared with about 1% in England,” says Glenn Orgin, the founder and CEO of Richr. “I believe online platforms like Richr can democratize the real estate industry by putting power back in the hands of sellers. This tech-driven approach to the real estate market makes it easier than ever for individuals to sell their homes themselves and save a significant amount of money in the process.”
Additional highlights from the survey are below:
More Than Four in Five Americans Believe New Technology Is Making it Easier for Sellers to Market Their Own Homes: More than 8 in 10 respondents (82%) agreed new technology makes it easier for home sellers to market their own home instead of working with a real estate agent.
One in Three Americans Disagree It Is Difficult to Buy or Sell Property Without a Real Estate Agent: One-third (33%) somewhat or strongly disagree with the statement that “it is difficult to buy or sell property without a real estate agent.”
This survey was conducted online within the United States by The Harris Poll on behalf of Richr from March 25-27, 2019 among 2,042 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact April White, President of Trust Relations at 323-216-8589.
Richr is an online technology and referral program that enables homeowners to sell their properties without a middleman. The free platform offers a step-by-step guide that sellers can follow to list their home on their local MLS, where it will appear on more than 750 websites including Zillow, Redfin, Trulia and Realtor.com. By using Richr, homeowners can avoid spending thousands of dollars on commissions and flat fees. Richr was recently named a finalist in the 2019 Miami Herald Startup Pitch Competition.
About The Harris Poll
The Harris Poll is one of the longest-running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. They work with clients in three primary areas; building a twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Their mission is to provide insights and advisory to help leaders make the best decisions possible.
President, Trust Relations
april (at) trustrelations (dot) agency