How People Choose a Real Estate Agent is Irrational
How people choose a real estate agent is often an irrational act conducted in a low-information environment.
I have copied this in its entirety from The Dose: It is not my content, but 100% my belief. I know, I am in the trenches!
How people choose a real estate agent is often an irrational act conducted in a low-information environment.
“I know this person,” or “I know someone who knows this person,” or, worse, “This is the person who got back to me first,” often trump studied consideration.
Our research at 1000WATT indicates that this isn’t just laziness. It’s mostly a function of people not knowing what to look for in an agent. This informational vacuum has benefited the inexperienced or incompetent, those who would not bear close scrutiny.
AI may change this.
If you haven’t done so, it’s worth spending significant time exploring how ChatGPT et al. handle local agent recommendations.
It’s flawed, and you may disagree with some of the AI-generated conclusions, but it is also instantly rigorous. Rigor favors the competent.
Our favorite chat involved the response to this prompt, which came after narrowing ChatGPT’s agent recommendations in a specific neighborhood:
The resulting discussion of pros and cons was, let’s say... not so good for our newbie nephew.
We may see chatbot responses evolve just like their search engine predecessors, which evolved from relatively neutral providers of organic results to producers of ad and sponsor-laden noise. But for now, the vacuum is being filled.