2011 Sellers and Sales

By
Mortgage and Lending with The Jonathan Arnold Team of Inlanta Mortgage

2011 Sellers and Sales


Overall it looks like 2011 was a great year to trade up for a lower payment. There is a clear change in some of these numbers for sellers.

  • Half of sellers traded up for a larger and/or higher priced home
  • 60% purchased newer homes
  • Typical seller had lived in therir home for 9yrs (up from 6yrs in 2007)
  • 87% used teh assistance of a Real Estate Agent
  • Tyically homes were sold for 95% of the listing price
  • 61% reduced their asking price at least once
  • 41% of sellers offered incentives to attract buyers (primarily home warranties and closing costs)
  • 39% of Agents were reffered by friends of family
  • 22% used an Agent they had priviously worked with
  • 2/3rds of home sellers only contacted one agent before selecting theirs

     

  • 92% of sellers reported their home was advertised online
  • 85% said they would definitely use their agent again

    2011 Sellers and Sales

     

 

What about FSBOs?

  • 10% of home sales were completed without the assistance of an agent
  • 40% of sellers knew the buyer prior to the home being purchased
  • 37% reported they did not use a Realtor because they did not want to pay a fee or commission
  • More than one third of FSBOs took no action to market their home
  • 59% of FSBOs offered no incentives
  • Typical FSBO home sold for $150k compaired to $215k for agent assisted home sales



Previous Posts on the 2011 Profile of Home Buyers and Sellers

2011 Profile of Home Buyers and Sellers Introduction

2011 Profile of Home Buyers and Sellers Environment & Characteristics of Home Buyers

Characteristics of Homes Purchased in 2011 Profile of Home Buyers and Sellers

The Home Search Process of 2011

Financing a Home in 2011

Posted by

 

 
 
  Katrina Cole  

Katrina Cole

Business Development

The Jonathan Arnold Team
   


Inlanta Mortgage, Inc
2029 Celadon Dr NE
Grand Rapids, MI 49525

 
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Rainmaker
1,364,305
Jeff Jensen
The Federal Savings Bank/Lending in 50 states - Greenwich, CT

Those are interesting statistics.  I think I will share them with my agents at our next meeting.

Feb 27, 2012 06:40 AM #1
Anonymous
KC Marketing

Thank you for sharing great information.  These stats are important to review to know your target audience and make changes as needed.

Feb 27, 2012 09:57 PM #2
Anonymous
Joseph Allen (Realtor)

What great info.  I am always looking to work with people who provide me with useful information.  This series is a strong one.

Feb 27, 2012 09:58 PM #3
Rainer
119,944
Katrina Cole
The Jonathan Arnold Team of Inlanta Mortgage - East Grand Rapids, MI
Inlanta Mortgage, Business Development Manager

Connecticut Home Mortgage: I am glad that you find the stats useful.  I think sharing with your agents is a great idea!

 

KC Marketing: I can't agree more.  We all need to be well aware of our target audiences and the changes in the market.

 

Joseph Allen: Thank you for your comments.  Make sure you watch for additional posts.

Feb 28, 2012 06:12 AM #4
Rainer
22,722
Jeff Andresen
Buffett Hathaway Real Estate - Highlands, NC
Jeff Andresen

Katrina,

Great post. Love the stats. I'll b re visiting on the regular. Thank you.

and for your recent comment on my blog. I'm answering those questions now. thanks

 

Jeff

www.jeff.cashiershomesearch.com

 

Feb 29, 2012 03:29 AM #5
Rainer
119,944
Katrina Cole
The Jonathan Arnold Team of Inlanta Mortgage - East Grand Rapids, MI
Inlanta Mortgage, Business Development Manager

Jeff, you are very welcome.  I hope to keep providing everyone with valuable information and help in marketing efforts whenever possible.

Feb 29, 2012 03:55 AM #6
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Rainer
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Katrina Cole

Inlanta Mortgage, Business Development Manager
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