So you are thinking about hiring a residential listing agent? Here are some things that you should think about. The National Association of REALTORS has recently published 2017 Profile of Home Buyers and Sellers and these statistics tell a good story about current trends in today’s market. Some of these findings can help you find a listing agent or determine if you want to sell it as a FSBO (For Sell by Owner). The following information is from the 2017 Profile of Home Buyers and Sellers, which is divided by types of homes purchased, home search process, home selling and real estate professionals, and FSBO Sellers:
Characteristics of Homes Purchased
- Buyers of new homes made up 15 percent and buyers of
previously owned homes made up 85 percent.
- Most recent buyers who purchased new homes were
looking to avoid renovations and problems with plumbing
or electricity at 36 percent. Buyers who purchased
previously-owned homes were most often considering a
better price at 32 percent.
- Detached single-family homes continue to be the most
common home type for recent buyers at 83 percent,
followed by seven percent of buyers choosing townhomes
or row houses.
- Senior-related housing stayed the same this year at 13
percent, with 16 percent of buyers typically purchasing
condos and six percent purchasing a townhouse or row
- There was a median of only 15 miles between the homes
that recent buyers purchased and the homes that they
- Home prices increased slightly this year to a median of
$235,000 among all buyers. Buyers typically purchased
their homes for 98 percent of the asking price.
The Home Search Process
- For 42 percent of recent buyers, the first step that they
took in the home buying process was to look online
at properties for sale, while 17 percent of buyers first
contacted a real estate agent.
- Seventy-nine percent of recent buyers found their real
estate agent to be a very useful information source. Online
websites were seen as the most useful information source
at 88 percent.
- Buyers typically searched for 10 weeks and looked at a
median of 10 homes.
- The typical buyer who did not use the internet during their
home search spent only four weeks searching and visited
four homes, compared to those who did use the internet
and searched for 10 weeks and visited 10 homes.
- Among buyers who used the internet during their home
search, 89 percent of buyers found photos and 84 percent
found detailed information about properties for sale very
- Sixty-one percent of recent buyers were very satisfied with
their recent home buying process.
Home Selling and Real Estate Professionals
- Sixty-four percent of sellers found their agent through
a referral from a friend, neighbor, or relative or used an
agent they had worked with before to buy or sell a home.
n Seventy-four percent of recent sellers contacted only one
agent before finding the right agent they worked with to
sell their home.
- Ninety percent of sellers listed their homes on the
Multiple Listing Service (MLS), which is the number one
source for sellers to list their home.
- Seventy-six percent of sellers reported that they provided
the agent’s compensation.
- The typical seller has recommended their agent twice
since selling their home. Thirty-three percent of sellers
recommended their agent three or more times since
selling their home.
- Eighty-five percent said that they would definitely (67
percent) or probably (18 percent) recommend their agent
for future services.
For-Sale-by-Owner (FSBO) Sellers
- Only eight percent of recent home sales were FSBO sales
again this year. For the third year, this is the lowest share
recorded since this report started in 1981.
- The median age for FSBO sellers is 55 years. Seventy-four
percent of FSBO sales were by married couples that have a
median household income of $103,100.
- FSBOs typically sell for less than the selling price of other
homes; FSBO homes sold at a median of $190,000 last
year (up from $185,000 the year prior), and significantly
lower than the median of agent-assisted homes at
- FSBO homes sold more quickly on the market than agentassisted
homes. Fifty-eight percent of FSBO homes sold
in less than two weeks—often because homes are sold to
someone the seller knows.
- Sixty-eight percent of successful FSBO sellers who knew
the buyer were very satisfied with the process of selling
Unless you know someone that wants to buy your home, you should use a real estate professional to sell your home. As stated previously, marketing real estate is improant to get the highest price for your home.
In the Real Estate Market?
You should consider using a realtor. I could save you money especially with new home builders and it does not cost you anything. So why not? If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida 33511). As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota. The Keller Williams offices of ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico. My email address is firstname.lastname@example.org, or call me at 813.205.9280. If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link