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National Assoc of Realtors – 2018 Home Seller Profile

National Assoc of Realtors – 2018 Home Seller Profile

Home Sellers and Their Selling Experience
*The typical home seller was 55 years old, with a median household income of $98,800.
*For all sellers, the most commonly cited reason for selling their home was that it was too small (15 percent), followed by the desire to move closer to friends and family (14 percent), and a job relocation (13 percent).
*Sellers typically lived in their home for nine years before selling, down from last year.
*Ninety-one percent of home sellers worked with a real estate agent to sell their home.
*For recently sold homes, the final sales price was a median of 99 percent of the final listing price.
*Recently sold homes were on the market for a median of three weeks, the same as last year.
*Forty-four percent of all sellers offered incentives to attract buyers.
*This year, home sellers cited that they sold their homes for a median of $55,500 more than they purchased it.
*Sixty-four percent of sellers were very satisfied with the selling process.
Home Selling and Real Estate Professionals
*Sixty-three percent of sellers found their agent through a referral from a friend, neighbor, or relative or used an a gent they had worked with before to buy or sell a home.
*Seventy-five 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-seven percent of sellers reported that they provided the agent’s compensation.
*The typical seller has recommended their agent once since selling their home. Thirty-two percent of sellers recommended their agent three or more times since selling their home.
*Eighty-five percent said that they would definitely (69 percent) or probably (17 percent) recommend their agent for future services.
For-Sale-by-Owner (FSBO) Sellers
*Only seven percent of recent home sales were FSBO sales again this year. This is a decrease from last year and is the lowest share recorded since this report started in 1981.
*The median age for FSBO sellers is 55 years. Seventy-one percent of FSBO sales were by married couples that have a median household income of $98,800.
*FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $200,000 last year(up from $190,000 the year prior), and significantly lower than the median of agent-assisted homes at $264,900.
*FSBO homes sold more quickly on the market than agent-assisted homes. Seventy-three percent of FSBO homes sold in less than two weeks—often because homes were sold to someone the seller knows.
*Seventy-two percent of successful FSBO sellers who knew the buyer were very satisfied with the process of selling their home.
SOURCE: https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers?__s=q5wtvicraspraugx3mqs

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