CHAPTER 6
HOW BUYERS SEARCH FOR HOMES According to 2016 National Association of Realtors® (NAR) Profile of Home Buyers and Sellers, the data on how buyers found the homes they purchased fell into the following categories: 51% - Internet 34% - Real Estate Agent
8% - Yard Sign/Open House Sign 4% - Friend, relative or neighbor 2% - Home builder or their agent 1% - Directly from seller, or knew seller 1% - Print newspaper advertisement
The longer the house sits on the market, the more intense the pressure on the seller to make a deal, because the price is likely to drop as time passes. Therefore, it is important to understand every possible avenue of getting your home in front of as many buyers as possible to decrease time to sale. Today’s real estate buyer is highly sophisticated and uses a variety of resources, both traditional and technical, to aid in their search for a new home. According to the 2016 National Association of Realtors Profile of Home Buyers and Sellers, sellers in 2016 sold their homes for 98%of the listing price, and 37% reported reducing the asking price at least once.
30
Powered by FlippingBook