One-stop real estate shops are gaining popularity, according to an online survey of 200 real estate executives conducted by Imprev, Inc. in Aug. 2013.
Seventy-five percent of executives 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.
According to a 2011 National Association of Realtors and Harris Interactive study, the number of consumers interested in using a service provider affiliated with a brokerage firm increased 34 percent from the first survey, which was conducted in 2008; 78 percent of homebuyers said one-stop shopping would save them money; 75 percent 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.”
When real estate executives were asked to select the top benefits from offering ancillary services, 79 percent said “higher profits”; 70 percent said “one-stop marketing opportunities”; 62 percent said “increased customer satisfaction”; and 60 percent said “better quality control.”