NATIONAL STATISTICS & FACT SHEET*
 HABITS OF HOME BUYERS & SELLERS

SELLERS

1. The most important factors when choosing a real estate agent to sell a home is the reputation of the agent who is honest and trustworthy
2. What seller most want from real estate agent is to (1) price home competitively; (2) find a buyer;  (3) market their home; and (4) sell the home within a specific timeframe
3. Most important methods used to market home include: (1) listing on the Internet; (2) Yard sign; (3) Open House; and (4) print/newspaper advertisement
4. 93% of homes sold were listed with a Multiple Listing Service(s)
5. 64% of home sellers contacted one agent and 20% of home sellers contacted two agents before selecting the agent to represent them
6. 40% of home sellers used an agent referred to them
7. 85% of home sellers sold their home with the assistance of a real estate agent
8. Agent-Assisted homes sold for a higher price compared with unassisted sales.
9. 80% of sellers work with an agent who provides a broad range of services versus limited service providers
10. 80% of holes sold for less than the listing price
11. The median time on the market for unsold inventory in the West was 12 weeks.
12. Time on the market and sales price compared with listing price are highly correlated; generally, the longer a home is on the market the greater the discount from the listing price upon sale.

 BUYERS

1. The latest data show that nationally one in ten 10 buyers purchased their home as a foreclosure; in the West nearly one in five purchases was through a foreclosure or trustee sale for 2009
2. 81% of buyers used an agent or broker for transactions of previously owned homes versus a new home from a builder or developer
3. 62% of all buyers had either a verbal buyer representative agreement or a written buyer representative agreement with their agent
4. What buyers most want from their agent is to (1) help them find the right home; (2) negotiate the terms; and (3) help with price negotiations.
5. 98% of buyers rate honesty and trustworthiness among the most important factors when choosing an agent. Knowledge of the purchase process and knowledge of the real estate market were other qualities considered important.
6. 90% or nine out of ten home buyers used the Internet as one of the information sources in their home search process.
7. A real estate agent was the second most frequently cited information source with 87% of home buyers talking to an agent.
8. Regardless of the use of the Internet in the home search, home buyers continue to rely on the assistance of real estate professionals .
9. In the West, the length of the typical home search rose to 12 weeks in 2009.  Buyers in the West also visited the most homes [15] before buying.
10. Websites most used in the home search process included: (1) Multiple Listing Service (MLS) website; (2) real estate company website; (3) Realtor.com® ; and (4) Real estate agent websites

*Source: National Association Of Realtors®  2009 “Profile Of Home Buyers and Sellers” Rev.032510