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Profile Of U.S. Home Sellers

The National Association of Realtorsmedian sales price in 2005 was 99% of
(NAR) conducted a survey to identify thethe median listing price. An average
typical profile of homebuyers and homehome stayed on the market for 6 weeks
sellers. The most recent findings werebefore it was sold.
published in NAR's 2006 Profile of HomeReal estate professionals continue to
Buyers and Sellers report. This articleplay a major role in successful home
focuses on the profile of a typical homeselling. 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 ageagent or broker to sell their homes was
of a home seller is 46 years, which is84%. Of these, 80% sold their homes by
older than the typical home buyer's ageusing an agent or broker exclusively.
of 41 years. Home sellers have a higherFor Sale By Owner (FSBO's) accounted for
income than homebuyers with a median12% only.
household income of $83,200 in 2005, asThe major factors that influenced home
compared to $71,800 for homebuyers. Homesellers to choose their real estate
sellers being older than the typicalagents were - Agent's reputation (35%),
home buyer are less likely to havehonesty and trustworthiness (21%), agent
children under 18 living in their home,being a friend or family member (15%)
and are more likely to beand knowledge of a neighborhood (11%).
married-couples.About 44% of sellers chose their agent
On average, homeowners sold theirbased on referrals from friends or
property after 6 years of ownership.relatives and 30% based on previous
Approximately 13% of homeowners areexperience with an agent. Home sellers
first-time home sellers.report great satisfaction with their
According to the report, the most commonreal estate agent; 82% of them said that
reasons why homeowners sell theirthey would use the same agent again or
current home is the need for a largerrecommend their agent to others.
home, or to move closer to friends andThe Internet continues to be the major
family, or to relocate. Older homemarketing tool of home sellers with 88%
sellers (ages 65 and above) were moreof recent home sellers having listed
likely to sell their current homestheir homes in the local multiple
because they wanted to downsize to alisting service (MLS). More than 50% of
smaller home. Younger home sellers (ageshome sellers used yard signs and open
44 and below) were more likely to sellhouses.
their home because they wanted largerIf you are considering buying or selling
home.a home, condo or any other type of real
The median sales price was found to beestate, be sure to seek out the services
more or less at par with the listingof a knowledgeable real estate agent to
price. According to the report, thehelp you with this complex transaction.



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