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