Having a good understanding of home buyers and sellers is a very important part of the real estate business. Learning about buyers and sellers has plenty of obvious advantages. Here are a few highlights from the National Association of Realtors® latest Profile of Home Buyers and Sellers:
Buyers
- The typical homebuyer searches for 10 weeks and views 12 homes.
- 87% of buyers purchase their home through a real estate agent or broker.
- 41% of homebuyers begin their search for a home by looking at properties online.
- 95% of buyers use the internet to search for homes.
Sellers
- 89% of sellers are assisted by a real estate agent when selling their home.
- 7% of sellers successfully sell their home For Sale By Owner (FSBO).
- 57% of those sellers already knew the end buyer before attempting to sell their home.
- The typical FSBO home sells for $260,000 compared to $318,000 among agent-assisted home sales.
- Typically sellers sell their homes for ~100% of the listing price, the highest since 2002.
- 74% of sellers report reducing the asking price at least once.
- 26% of sellers offer incentives to attract buyers, most often assistance with home warranty policies and closing costs.
The main takeaways here are:
- Internet marketing is very, very important
- Most successful home sales involve a Realtor
- For Sale By Owner sellers often know their end-buyer prior to wanting to sell their home.
- Learning about buyers and sellers helps you have a more successful real estate experience
If you have questions about real estate, feel free to contact me. I’m happy to help. No obligation. Honestly.
Justin Rollheiser – REALTOR®
Keller Williams Realty | Diamond Partners, Inc.
13671 S Mur-Len St | Olathe, KS 66062
Cell 913-800-7653
Office 913-322-7500
www.JustinRollheiser.com
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