• Nine in 10 buyers (88%) find their home through a real estate agent.
• Most sellers (8 in 10) report they would use their agent again or recommend them to others.
• 70% of home sellers only contacted one agent before selecting the one to assist with their home sale.
• In general, the four reasons people sell their home are: upsizing – moving to a larger home; job-related move; getting closer to friends and family; downsizing – moving to a smaller home.
• While traditional methods like yard signs and open houses are still popular, more than half of buyers found the home they would purchase online.
• Increasingly, buyers look online for properties first.
• Younger buyers are more likely to use their mobile devices in the home search process, while older buyers are more likely to stick to traditional methods like visiting open houses.
• 9% of sellers go the route of FSBO (For Sale by Owner).
• The median sales price of a FSBO was $208,700.
• The median sales price of an agent-assisted sale was $235,000.
• The most difficult task for a FSBO seller is to price the home correctly.
• It’s important to price the home to move quickly: the longer the house stays on the market, the more the asking price was reduced.
• If a house was on the market longer than nine weeks, 69 percent of sellers reduced the asking price. Longer than 17 weeks, 83 percent reduced the asking price.
• The most common incentives offered to buyers are home warranty policies and assistance with closing costs.
Source: 2014 National Association of REALTORS® Profile of Home Buyers and Sellers