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