How might home buyers, sellers, and investors find a simple way to see proof of how experienced a realtor is so that can easily connect with them.
The goal of Realtor Verifier as a social platform is to facilitate homebuyers, sellers, and investors in finding suitable agents aligned with their goals, showcasing evidence of the agents' expertise and experience to achieve clients' objectives.
With over 2.1 million active realtors nationwide many agents pretend they’re selling a home when in reality they are taking credit for another realtor's work and promoting it on their social media. This is a problem because many clients have lost money on the table when it comes to selling their home and negotiating credit.
User Pain Points
Conducted a survey to obtain initial user data with regards to connecting with the right realtor. To address this problem effectively the questions were focused on finding the right realtor. In the research, it was found that about 64% of potential clients find realtors from word to mouth. It was also found that 32% of clients find their realtors on social media. 46% said they were satisfied with their realtor and 54% said they should have interviewed more agents.
These findings confirmed that clients do want to connect with more realtors before making a final decision.
Our user research validated this problem because this survey was sent out to homeowners, past home sellers and investors. Past homesellers mentioned that who they use as a realtor significantly depends on factors like location, market conditions and personal preference. 72% said they would use an app to find verified realtors and analyze their profile to see if they fit their needs.
Landing on the Solution
Based on the pain points of our potential users it was identified that the main pain point for most clients was finding the right realtor and going into the process reassured.
After we showcased our prototype to the users, we learned that clients would be all over this app if they knew about it before starting their real estate venture.
I plan to take my experience and lessons learned with this project to develop a new product with a team of designers and engineers. If in the future I am at a point where I have the time and resources to fully execute this, this is definitely a product I would enjoy developing and bringing to life.
Product Manager Learnings:
As a product manager it is important to focus on defining a problem space that is focused on one problem. And though the solution space should be explored with your team, it is also important to have a focused approach of how the solution will be executed. I also learned that developing personas is crucial to envisioning how your product will be used. I also learned that defining quantitative metrics and milestones are crucial for developing a MVP. With quantitative metrics, it is easier to prove and monitor how your product is making a realistic impact in the world and with its users. These metrics tied back to both user and market research are what ultimately help define the product’s success and guide its potential growth.