How do you find your buyers and sellers?
There’s much to learn from the 2010 NAR Profile of Home Buyers and Sellers, and Bob Hunt over at Realty Times breaks it down for us in this blog posting.
A snapshot of the findings from the 2010 report:
- 83% of buyers used an agent to find the home that they bought. That number has increased steadily since 2001, when the figure was 69%.
- 6% of buyers purchased directly from a builder, and 5% bought directly from an owner.
- Not a lot of "agent shopping" takes place among buyers. 64% interviewed only one agent, 21% interviewed two.
- 48% of buyers chose to work with an agent who was referred to them by a friend, neighbor, or relative (or an agent who was a friend, neighbor, or relative). 9% of buyers chose to work with someone with whom they had previously bought or sold a home. The rest of the sources are widely varied – for example, 6% of buyers made contact with their agent as a result of the agent's name being on a "for sale" sign.
There’s more interesting stuff in Bob’s review of the report – stuff that’ll show you how buyers find the homes they ultimately buy, as well as how both buyers and sellers find the agents they ultimately use (in other words, you).
Read Bob’s full post here and report back on what you learn. How will you use the Profile of Home Buyers and Sellers to get you connected with future clients?
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Posted on Thu, December 23, 2010