More Brokerages Becoming One-Stop Shops
More real estate brokerages are trying to create a “one-stop real estate shop” for customers by adding extra services, according to an online survey of 200 real estate executives conducted by Imprev Inc.
Seventy-five percent of execs who responded to the survey say their brokerages offer at least one ancillary service, such as title insurance or mortgages. The most popular ancillary services offered were mortgages (89 percent), title services (71 percent), and home warranties (49 percent), according to the survey.
The brokerages appear to be responding to increased demand for one-stop shopping: In a 2011 survey conducted by the National Association of REALTORS® and Harris Interactive, 78 percent of home buyers said one-stop shopping would save them money. Seventy-five percent in that survey said it would make the process more manageable and efficient, and 73 percent said one-stop real estate shops would prevent transaction details from “falling through the cracks.”
In the Imprev survey, real estate executives identified the following top reasons for adding ancillary services: higher profits, the “one-stop marketing opportunities,” increased customer satisfaction, and “better quality control.”