This post is more of an FYI item.
Here are some Interesting numbers that are probably of interest to not only licensed real estate agents in Illinois, but also to private citizens in Illinois who are considering a home purchase in this year of 2011 (data supplied by the Illinois Association of Realtors). Some of these statistics are in the category of "DUH!" But some fall into the category of "Oh, Really???!"
53% of buyers purchased their first home in 2011.
50% of all buyers chose their Realtor to assist them by recommendation from a family member or friend. (reason enough to keep reminding family and friends that we are Realtors, no?)
The average age of those first-time buyers was 30 years. And the repeat buyer average age was 42 (a significant spread between those first time buyers and the repeat buyers). Good to know who the customer is more likely to be, having a chance to become attuned to what matters to them.
New construction amounted to only 9% of all homes purchased in 2010. The new home builders have taken it on the chin; but Toll Brothers is actually doing well in the Chicago area, with several projects that are attracting buyers by the "right" pricing and attractive units, and the very enthusiastic sales staff.
Only 7% of all buyers bought their home directly from the previous owner (FSBO).
Those who purchased through a licensed agent or broker were 85% of all buyers. Hurrah for this one!
And the remaining buyers purchased from a builder or at a foreclosure/trustee sale.
And the top three service requests that buyers wanted from their agents in 2010?
- help them find the RIGHT home
- help them negotiate the terms of the purchase they wanted to make
- and help them negotiate the price of the property they wanted to buy
This last item is surprisingly simple, isn't it? In other words, we should serve our buyer clients by giving them the very best counsel and guidance that we can muster, from the first time we interact with them, all the way through to the closing. I can do that!
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