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2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com April, 2012

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Page 1: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

April, 2012

Page 2: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

Summary of Key Findings

Report compiled by:

• Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

• Electronic signature usage is strong and satisfaction levels are high

• Usage is minimal for online transaction tools to date

• Those that have used them are highly satisfied

• Strong consumer interest in having access to online transaction tools

Page 3: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

How would you define your interest in real estate currently? (Choose all that apply)

Page 4: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

What type of residence did you purchase?

Page 5: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

High satisfaction levels with agent’s keeping clients up to date during the transaction

How satisfied were you with the level of information your agent supplied you?

Page 6: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

Respondents prefer email and phone calls for updates

How do you prefer to be contacted on the progress of buying your home?

Page 7: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

Agents are doing a good job of preparing their clients for every step of the transaction

How satisfied were you with how agent led you through the process of buying/selling a home?

Page 8: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

Agents are doing a good job of preparing their clients for every step of the transaction

When you bought/sold your last home, which, if any of the following did your agent provide to you? (Choose all that apply)

Electronic Signatures are growing in popularity

Page 9: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

How valuable do you

find the HAR Housing Markets Report? How helpful do you think

these tools WOULD have been to you when you bought/sold your home? Strong interest in online tools

Page 10: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

How helpful were each of these tools your agent provided to you?

Electronic Signatures

Electronic Signatures are highly valued by

consumers that used them

1/3 are not using it yet

Page 11: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

How helpful were each of these tools your agent provided to you? 24/7 Online Access to Status of Transaction

Usage of 24/7 online access to status of transaction is not well established yet Strong satisfaction/interest among the minority that have used it

Page 12: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

Nearly 2/3

are not yet

using online

tools to track

status

Opportunity

to satisfy a

consumer

need

How helpful were each of these tools your agent provided to you? Online tool to track status of transaction

Page 13: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

How helpful were each of these tools your agent provided to you?

CD/Online Folder with closing documents

Usage of CD/Online folders still minimal as well High satisfaction among those that have received them

Page 14: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

92% of respondents are interested in using online tracking tools for their next transaction

When you buy your next home how important will it be for you to

work with an agent that provides you with methods for you to review the progress of your transaction online?

Page 15: April, 2012 - content.harstatic.com · April, 2012 . Summary of Key Findings Report compiled by: •Online Tracking will not REPLACE email and phone contact, but is a nice adjunct

2011© WAV Group, Inc. All Rights Reserved Confidential www.wavgroup.com

Recommendations

Report compiled by:

• HAR should continue to offer Association-wide Transaction Management product

• Promote it to brokers to save them the cost of owning their

own, making MLS-wide collaboration possible • Promote member testimonials