Where Do Real Estate Agents' Clients Actually Come From?
The short answer
Mostly from referrals and repeat relationships. NAR's 2025 Profile of Home Buyers and Sellers found 37% of sellers were referred by a friend, neighbor or relative, 4% by another agent, and 29% reused a past agent (BAM, November 2025). NAR's 2026 Member Profile found the median agent got 28% of business from repeat clients.
Key takeaways
- Sixty-six percent of sellers hired a referred agent or an agent they had used before.
- Eighty percent of sellers interviewed only one agent before choosing, per NAR's 2025 Profile.
- Forty-three percent of buyers found their agent through a friend, neighbor or relative.
- Agents with two years or less experience reported a median of 0% repeat and referral business.
- The median agent with two years or less earned $8,000 gross in 2025.
The data on how consumers pick agents has been consistent for years: they ask people they trust, or they go back to someone they used before. Advertising, portals and cold outreach matter, but they compete for a smaller slice. Here is what the latest NAR data shows, and why it is hard on agents early in their careers.
How do sellers find their listing agent?
Mostly through people they know. NAR’s 2025 Profile of Home Buyers and Sellers, as summarized by BAM (November 2025), found:
| How sellers found their agent | Share of sellers |
|---|---|
| Referred by a friend, neighbor or relative | 37% |
| Used an agent they had worked with before | 29% |
| Referred by another agent or broker | 4% |
| Hired a referred or past agent (combined) | 66% |
Two-thirds of sellers hired someone they were referred to or already knew. That leaves roughly a third of sellers for every other channel combined.
Do sellers shop around before hiring an agent?
Rarely. BAM’s summary of NAR’s 2025 Profile found 80% of sellers interviewed only one agent before choosing.
That single fact shapes the whole market. If most sellers talk to one agent, the agent they talk to first usually wins. Being referred, or being the first credible conversation, matters more than being the best presenter in a three-way interview.
How do buyers find their agent?
Buyers lean on referrals too, especially first-time buyers.
| How buyers found their agent | Share of buyers |
|---|---|
| Referred by a friend, neighbor or relative | 43% overall (49% first-time, 41% repeat) |
| Used an agent they had worked with before | 15% (18% of repeat buyers) |
| Referred by another agent or broker | 7% |
Buyers also tend to stop at the first agent. NAR’s 2025 Profile found 67% of first-time buyers and 76% of repeat buyers hired the first agent they spoke with, per BAM.
How many consumers still use an agent at all?
Nearly all of them. NAR (November 2025) reported FSBO sales fell to a record low 5%, and 91% of sellers used an agent, a record high. BAM’s summary adds that 88% of buyers used an agent or broker.
NAR also reported a median FSBO price of $360,000 versus $425,000 for agent-assisted sales. Consumers are not leaving agents. They are choosing among them through trust.
How much of an agent’s business comes from repeat and referral clients?
NAR’s 2026 Member Profile, covering 2025 business, was summarized by HousingWire (June 2026).
| Agent experience | Median repeat-client business | Median past-client referral business |
|---|---|---|
| All agents | 28% | 22% |
| 16+ years | 49% | 32% |
| 2 years or less | 0% | 0% |
The median agent got 28% of business from repeat clients, up from 20% a year earlier. Experienced agents built a base that keeps feeding them. Newer agents start from zero.
Why is this so hard for newer agents?
Because the two biggest channels require history. You cannot get repeat business without past clients, and past-client referrals require past clients too.
HousingWire’s summary of the 2026 Member Profile shows the result:
| Agent experience | Median transaction sides (2025) | Median gross income (2025) |
|---|---|---|
| All agents | 9 | $59,200 |
| 2 years or less | 2 | $8,000 |
| 16+ years | Not reported in source | $88,500 |
A newer agent’s sphere is usually their only warm channel. When it runs out, they turn to cold prospecting, paid leads or referral programs.
What does this mean for how agents build a pipeline?
Three things follow from the data.
- Protect your past clients. At 28% repeat and 22% referral for the median agent, past clients are the highest-return channel there is.
- Earn agent-to-agent referrals. Seven percent of buyers and 4% of sellers came through another agent or broker. Relationships with agents in other markets are worth maintaining.
- Fill the gap deliberately. For agents without a deep sphere, the question is which outside channel to rent: portals, data and calling, or referral programs. Each has a different cost structure, covered in our cost per closing guide.
What does this mean for brokers and team leaders?
The same data explains a retention problem. If newer agents close a median of two sides and earn $8,000 in a year, many will not make it to year three.
Brokers can respond in a few ways:
- Pair newer agents with experienced ones on transactions, so they build a client history faster.
- Run a structured past-client program for every agent, since repeat and referral business compounds over time.
- Route inbound and referral opportunities fairly, with clear standards for follow-up.
- Evaluate outside referral sources on a pay-at-closing basis, so the cost lands only on closed deals.
A newer agent who closes five sides instead of two has more past clients to call next year. That is the base that eventually produces the 28% repeat business the median agent reports.
Where do referral programs fit?
A referral program sits inside the referral channel. The consumer is introduced to an agent by a brokerage rather than a friend. The agent pays a referral fee at closing instead of building the relationship over years.
For an experienced agent with a strong base, that fee may not be worth it. For a newer agent with 0% repeat business, a warm introduction can be the difference between two sides a year and more.
How does Casventa fit in?
Casventa’s Lead Match introduces pre-qualified buyers and sellers warm to one agent in its invitation-only network across Pennsylvania, New Jersey and Delaware. It is a broker-to-broker referral, paid out of commission at closing, with no fee if the deal does not close. It is designed to supplement an agent’s own sphere, not replace it.
More questions
How many sellers sell without an agent?
Very few. NAR's 2025 Profile found FSBO sales fell to a record low 5%, and 91% of sellers used an agent.
Do buyers interview several agents?
Most do not. NAR's 2025 Profile found 67% of first-time buyers and 76% of repeat buyers hired the first agent they spoke with, per BAM's summary.
When will updated NAR numbers be available?
NAR usually releases its annual Profile of Home Buyers and Sellers in November. We will update this page when the 2026 edition is published.
What share of buyers were referred by another agent?
Seven percent of buyers were referred by another agent or broker, per BAM's summary of NAR's 2025 Profile. Among sellers, the figure was 4%.
Sources
Kris Quintana is co-founder and CEO of Casventa and founder of Precision Leverage Solutions, a transaction coordination company serving agents in PA, NJ and DE. He is a licensed Pennsylvania real estate agent.