| The National Association of Realtors (NAR) | | | | of the median listing price. An average home |
| conducted a survey to identify the typical profile | | | | stayed on the market for 6 weeks before it was |
| of homebuyers and home sellers. The most | | | | sold. |
| recent findings were published in NAR's 2006 | | | | Real estate professionals continue to play a major |
| Profile of Home Buyers and Sellers report. This | | | | role in successful home selling. The percentage of |
| article focuses on the profile of a typical home | | | | home owners who used the services of a real |
| seller based on the NAR report. | | | | estate agent or broker to sell their homes was |
| According to the report, the median age of a | | | | 84%. Of these, 80% sold their homes by using |
| home seller is 46 years, which is older than the | | | | an agent or broker exclusively. For Sale By |
| typical home buyer's age of 41 years. Home | | | | Owner (FSBO's) accounted for 12% only. |
| sellers have a higher income than homebuyers | | | | The major factors that influenced home sellers to |
| with a median household income of $83,200 in | | | | choose their real estate agents were - Agent's |
| 2005, as compared to $71,800 for homebuyers. | | | | reputation (35%), honesty and trustworthiness |
| Home sellers being older than the typical home | | | | (21%), agent being a friend or family member |
| buyer are less likely to have children under 18 | | | | (15%) and knowledge of a neighborhood (11%). |
| living in their home, and are more likely to be | | | | About 44% of sellers chose their agent based on |
| married-couples. | | | | referrals from friends or relatives and 30% based |
| On average, homeowners sold their property | | | | on previous experience with an agent. Home |
| after 6 years of ownership. Approximately 13% | | | | sellers report great satisfaction with their real |
| of homeowners are first-time home sellers. | | | | estate agent; 82% of them said that they would |
| According to the report, the most common | | | | use the same agent again or recommend their |
| reasons why homeowners sell their current home | | | | agent to others. |
| is the need for a larger home, or to move closer | | | | The Internet continues to be the major marketing |
| to friends and family, or to relocate. Older home | | | | tool of home sellers with 88% of recent home |
| sellers (ages 65 and above) were more likely to | | | | sellers having listed their homes in the local multiple |
| sell their current homes because they wanted to | | | | listing service (MLS). More than 50% of home |
| downsize to a smaller home. Younger home | | | | sellers used yard signs and open houses. |
| sellers (ages 44 and below) were more likely to | | | | If you are considering buying or selling a home, |
| sell their home because they wanted larger home. | | | | condo or any other type of real estate, be sure |
| The median sales price was found to be more or | | | | to seek out the services of a knowledgeable real |
| less at par with the listing price. According to the | | | | estate agent to help you with this complex |
| report, the median sales price in 2005 was 99% | | | | transaction. |