The National Association of Realtors (NAR) has been administering its annual Profile of Home Buyers and Sellers survey since 1981. The survey gives us great insight into the trends, wants and needs associated with the most significant financial decision of most people’s lives: purchasing a primary residence for themselves and their families.
This post focuses on the findings from the 2018 version of the survey from a seller perspective.
Sellers are staying in homes longer. From 1987 to 2008, sellers stayed in their homes for a median of six years. By 2011, the median tenure reached nine years, and by 2016, the median tenure increased to 10 years.
Seller Relationship With Agent Is Steady and Strong. 89% of home sellers worked with a real estate agent to sell their home. In addition, 90% of sellers listed their homes on the Multiple Listing Service (MLS), which is the No. 1 source for sellers to list their homes. Only 4% opted not to list on an MLS.
Sellers Want These Key Skills in Their Agents. Sellers place high priority on the following five tasks: market the home to potential buyers (21%); sell the home within a specific timeframe (20%); price the home competitively (18%); find a buyer for home (15%); and help fix the home to sell better (15%).
FSBOs Are Decreasing. In 1981, FSBO home sales accounted for 15 percent of all sales, and agent-assisted sales accounted for 85 percent. FSBO sales have declined over time and in 2017, FSBOs accounted for only 8 percent of total home sales. FSBOs typically sell for less than the selling price of other homes.
If you are interested in selling your home in North Carolina, I’d love to chat with you. Contact me today to schedule a time to talk!
Source: “What Today’s Sellers Want” - RIS Media
Sharetha M. Holman is a licensed NC real estate broker with Apex Realty of the Carolinas, Inc, primarily serving the Charlotte NC and surrounding areas. Connect with me on Facebook, Instagram, and Twitter!
To start your home search today, visit Apex Realty of the Carolinas.com.