NAR's 2009 Profile of Home Buyers and Sellers Report Released

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Real Estate Agent with Keller Williams Realty

 

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Sara Bonert {Real Estate Internet Marketing}

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Original content by Sara Bonert

Last week, the National Association of Realtors (NAR) released its 2009 Profile of Home Buyers and Sellers, an annual survey about the home buying and selling process.  There were over 9,000 respondents from around the US. The report contains tons of detailed information on the demographics, behaviors, experience of consumers in the housing market and some very interesting FSBO data (116 pages worth!). Here are some highlights.  If you want more detail, it is definitely worth buying the report, Realtor member pricing is $25 or download for free. 

The number of first-time buyers increased sharply last year to 47% from 41%. 

 

90% of buyers used the Internet to search for homes, 76% did so frequently.  I don't think this surprises anyone. 

 Use of Internet to search for homes 2003-2009

Searching online was the very first step in the buying process for most buyers, even before contacting a real estate agent.  Interesting to look at how this breaks down by age. 

On average, buyers spent 2 weeks searching online before contacting an agent, big opopportunity here for agents to connect with buyers who haven't yet chosen representation.

length of search for buyers who used an agent

Most buyers (44%) found their agent through a referral from a friend or relative, but 10% of buyers found their agent online.

How buers found their real estate agent

Yes, the Internet was used more often as a source of information, but check out who is the most reliable as a 'very useful' source!

  "Honesty and trustworthiness" was the most important factor cited when choosing an agent.

 Most important factor when choosing an agent

This is just a small portion of the information that is available in this report.  I highly recommend spending some time downloading the report and go through it yourself.  You could come to interesting conclusions when making 2010 business decisions. 

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Comments (3)

Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, e-Pro, TAHS

There is some interesting data there for the agent that wants to know what a homebuyer is looking for.  Thanks for the info Frank.  Have a prosperous New Year!

Dec 26, 2009 11:50 AM
Frank Bailey Sr.
Keller Williams Realty - Schertz, TX

Hello Ricki, it's been a while.  I hope you and yours had a great Christmas and a happy New Year!

Jan 07, 2010 02:11 PM
Art Ramsey
Seattle, WA

For those with REALTOR designations ...

Did NAR disclose to you before you took the class that you would need to pay them every year to rent your designation? Did they disclose to you how much the annual renewal would be before you took the class? We are talking ethics here, are we not? 

No one I know with a designation knew about these extra fees. Where is the ethics?

Why would NAR fail to disclose annual fees as they advertise these designations?

Please email me with your problems iwth NAR.       Seattlebroker1@aol.com

Thanks!

Mar 03, 2010 12:37 AM