Fun Facts About Real Estate

9 out of 10 home buyers use a real estate agent in the search process.

87% of sellers conduct transactions with the assistance of a real estate professional.

The median home price for sellers who use an agent is 16% higher than a home sold directly by an owner (owners without professional assistance have problems in understanding and completing paperwork, prepping the home for sale, getting the right price and selling within the time planned).

The typical buyer walks through nine properties, searches eight weeks to buy a home and moves 12 miles from their previous residence.

The typical seller places their home on the market for four weeks, lives in it for six years, moves 15 miles to their new residence and previously owned three homes, including the one just sold.

Word-of-mouth recommendation is the most common way to learn about real estate professionals.

The most important criteria in an agent are the agent's reputation and their knowledge of the local market.

The most important factors in choosing a location are neighborhood quality, proximity to job or school, closeness to family and friends and the school district.

Source: National Association of Realtors Home Buyer and Seller Survey, 2005