The 2006 National Association of Realtors Profile of Home Buyers and Sellers, based on more than 7,500 responses to a questionnaire mailed to a large national sample of consumers located through county deed records, is the latest in a series of surveys evaluating demographics, marketing and other characteristics of home buyers and sellers.
Most sellers prefer full-service brokerage, where professionals handle all aspects of the transaction process from listing to closing, including preparation of the home for sale, pricing, marketing, showing the home, contract negotiations and closing. Even so, limited services (which may include discount brokerage) and minimal services are important market segments also provided by NAR members, where sellers take a more active role in the process such as showing their homes themselves or preparing the contract.
The survey finds 83 percent of sellers use full-service brokerage, 9 percent limited services and 8 percent use minimal service, such as simply listing a property on a MLS.
When asked about the benefits provided by an agent, 55 percent of buyers said agents helped them understand the process, 40 percent said their agent pointed out unnoticed features or faults with the property, 37 percent indicated the agent improved their knowledge of the area, 36 percent said agents negotiated better contract terms, 35 percent reported a shortened search process and 29 percent said their agent negotiated a better price. Other benefits mentioned include narrowing or expanding the search area, providing a better list of mortgage lenders and providing a better list of service providers.
Of buyers who use an agent, 64 percent choose a buyer's representative. Satisfaction with real estate agents is very high, with 85 percent of all buyers saying they were likely to use the agent again or recommend to others. Almost all buyers were satisfied with their agent's honesty and integrity, with 83 percent being very satisfied.
As agents, this is something that many of can feel confident that we have made a positive contribution to those satisfied buyers. This is the type of information that the media needs to publish and get off the negativity!!
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