A survey conducted by Choice Home Warranty last month found that more than 67 percent of the 1,147 adults who completed the questionnaire don’t trust real estate agents. The generations most likely to distrust real estate agents are Generation X, Y, and Millennials, while Baby Boomers and retirees are more likely to trust an agent — but not much more.
Another interesting trend is that rural homebuyers are less trusting of real estate agents than urban ones, and both men and women expressed equal levels of distrust when it comes to agents.
Now, I’m not really sure why Choice Home Warranty conducted this poll, as I am sure most home warranty referrals come from real estate agents, and dissing agents won’t exactly get you a bunch of referrals. But the results are unexpected, to say the least.
And it’s too bad the survey wasn’t more specific about why the respondents distrust real estate agents, said Kevin Caskey, Director at Dallas City Center Realtors.
“It is sad that the general public does not trust their Realtor. The results in that survey are not surprising but I feel it is reflective of the large number of “used car salesman” type agents, which are not typically your top producers in the industry,” Caskey said. “I wish the survey could be limited to agents that produce in excess of a certain dollar amount and I know the results would be much more favorable. Trust is earned and I do not feel many agents have the training or tools to gain the trust of their clients.”
What do you think of the results? And why do you think people might not trust real estate agents?