Who's Selling Now? A snapshot.

By
Real Estate Agent with Remax equity group DRE# 200506219

According to the National Association of Relators (NAR) in 2010 the typical seller had lived in their home for eight years prior to selling. 88% of sellers used the services of a real estate agent when they sold, and 83% of those sellers said they would definitely or probably recommend and use that agent again.  Sellers' real estate agents were found through a referral from a family or friend 41% of the time.  23% used an agent with whom they had previously worked.

The same survey reported that the typical home was on the market for eight weeks, and sold for 96% of the listing price. 57% of the sellers had reduced their price at least once.

In order to attract buyers, 44% of the sellers offered incentives.  These incentives most often took the form of assistance with a home warranty and closing costs. 86% of the sellers were at least somewhat satisfied with their home selling expereince.

91% of sellers reported that their home was listed or advertised on the internet.

As for sellers who were unrepresented in the sale of their home, half of them knew the buyer prior to the sale. The total number of persons who sold without the use of an agent was 9%. 28% of the unrepresented sellers took no action to market their home, and 56% offered no incentives. About a quarter of the unrepresented sellers reported that their most difficult task was getting the price right.

And the buyers of those homes? Their use of real estate agents increased from 69% in 2001 to 83% in 2010.  Looks like buyers are searching on the internet, and also having an agent - usually found via a referral from family or friends - assist them through the multi-faceted process of negotiating, inspecting and closing the purchase on their new home.

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Comments (3)

Akil Walker
Bennett Realty Solutions - Bowie, MD

Alexsandra,

 

thanks for the wealth of information. I believe this holds true in the DC area as well.

Jan 30, 2011 07:38 AM
Keith Pentz
RE/MAX ADVANTAGE 1 - Shrewsbury, MA
Keith Pentz

"half of them knew the buyer prior to the sale" amazing!!  Thanks for that stats and some great blog ideas!

Jan 30, 2011 07:44 AM
Alexsandra Stewart
Remax equity group - Portland, OR
Broker - Portland Oregon Real Estate

Akil -- I think that is probably true since this was a national average and based on a wide response.

Keith -- yes, I gound that fact interesting also

Jan 31, 2011 10:28 AM