Monday, October 31, 2005

Public Image of Realtors® Reaches All -Time High

Public Image of Realtors® Reaches All -Time High

CHICAGO (October 20, 2005) –Public opinion of the nation’s Realtors® has reached an all-time high for the third straight year according to an annual tracking survey conducted to measure the effectiveness of the eighth season of the National Association of Realtors®’ multimillion-dollar Public Awareness Campaign.

The survey’s composite image score of 19 beliefs, opinions and attitudes about Realtors® rose from 56 percent in 2004 to 59 percent—up 11 points since 2002. The survey also found that the likelihood of real estate consumers to use a Realtor over a real estate licensee who is not a Realtor® rose 4 points to 64 percent this year.

Some of the consumer beliefs and opinions that improved most over the past 12 months are: “Realtors® bring the latest technology to buying and selling a home” (up 6 points to 63 percent); “Realtors® have the expertise to help sellers price their home fairly” (up 4 points to 64 percent); “Realtors® earn their commission” (up 6 points to 50 percent) and “Realtors® advocate private property rights of homeowners” (up 12 points to 54 percent).

“Public support for Realtors® and the value Realtors® bring to the real estate transaction is higher than it has ever been. Consumer attitudes towards Realtors have been improving steadily for the past few years due to many factors, especially the effectiveness of the Public Awareness Campaign,” said NAR President Al Mansell of Salt Lake City.

Total awareness of NAR’s television and radio advertisements reached the highest level in the history of the campaign. Awareness rose 2 points to 73 percent—reaching nearly three out of four real estate consumers in America. In 2005, 55 percent of consumers recalled seeing or hearing at least one of the NAR advertising executions, an increase of 2 points over 2004. Awareness of the call to action introduced last year, “Ask your agent if they’re a Realtor®, a member of the National Association of Realtors®,” increased from 32 percent to 39 percent.

Beliefs about Realtors® that improved the most this year were: that they have the best network of sources to help buyers and sellers (79 percent up 6 points over year ago); that they are best qualified to promote the sale of a home (73 percent, up 12 points); that they are professional (70 percent, up 13 points); that they conduct business with ethics and integrity (69 percent, up 11 points); and that they get the job done properly (68 percent, up 10 points).

Buyers who purchased a home in the past 12 months reported a jump from 39 percent to 56 percent in agents identifying themselves as Realtors®, while sellers reported an even more dramatic 23 percentage point gain, from 41 percent to 64 percent.

Realtor® support for the advertising campaign continues at levels similar to those last year, according to a survey of NAR members conducted in concert with the consumer survey. Ninety-eight percent of all NAR members favor the ad program, 94 percent would like to see more advertising, and 78 percent rate the advertising effectiveness as excellent/very good (up four points). Sixty-seven percent of members, a significant 10 point gain over last year, cite NAR’s advertising as an important reason for joining the association.

The National Association of Realtors® Public Awareness Campaign kicked off its eighth season last February and it will end next week. New ads this season featured people talking about their real estate experiences and touting the benefits of working with a Realtor®. The ads encourage consumers to contact a Realtor® first when it comes time to buy or sell a home or lease a commercial space.

The $25 million advertising campaign featured four new television commercials this year and four new radio spots, as well as new customizable print ads, posters and Web banners for state and local associations to use. Commercials included NAR’s first-ever Spanish-language television ad. The new spot, which closely resembles the English-language version, featured Hispanic Americans sharing their hopes, dreams and stories about trying to achieve the American dream of homeownership.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.

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