We’ve been studying the 2018 National Home buyer and seller profile as it reveals some interesting information.  We have knowledge about what buyers and sellers look for in an agent, how often they use an agent, and what they’re expectations are.

Today we’ll focus on two aspects of the report: The methods seller’s use to sell a home and information sources buyers use to purchase a home.

Methods Used to Sell Home

2018 National Home Buyer and Seller Profile Method Used to Sell Home

In 2018 home sellers used an agent 91% of the time. 1% sold their home to a home buying company, and 7% were successful selling their home on their own.  Whether they netted more at the closing table is another story.  Many sellers attempt to sell their home on their own but give up typically after 3 weeks.  They quickly learn that selling a home isn’t easy, and they essentially become a Realtor when they chose to try it on their own.

Only 4% of the lookers can purchase a home.  The rest are unqualified, out of their price range, or must sell something first.  They have a problem that the Realtor needs to solve.  The problem is, they won’t tell the seller what the issue is, and even if they did, the seller can’t solve it because they don’t have the knowledge or resources to deal with the buyer’s issue.  They can barely deal with their own issue and quickly feel in over their head.  The seller says it’s not my problem, it’s the buyers.  The problem is, it becomes the seller’s problem if the seller can’t solve the buyer’s issues because there is no sale without doing so.  There are only so many cash ready to go buyers, and they want a deal if dealing directly through the seller.  So, the seller has few buyers, and the few that are ready and able want a deal.  Both the buyer and seller can’t save the same commission, and therefore sellers give up and hire an agent.

Information Sources Buyers Use

2018 National Home Buyer and Seller Profile Information Sources Buyers Use

When looking at information sources buyers use, we see that 93% use an online website and 86% use a real estate agent.  You can see that these two sources haven’t changed much in the last few years. Yard signs have fallen significantly since 2004.  About the only two things to rise in recent years are open houses and online video sites.

88% of both buyers and sellers hire the 1st or 2nd agent they speak with.  The number one thing buyers want from their agent is help finding the right home. This tells us they love searching on their own, but they want an agent to help decide and confirm which home is best.

In other words, both buyer and seller like to do some of the research on their own, and both realize it’s a large investment and ultimately consult with a Realtor when it’s time to buy or sell.  The average buyer searches 10 weeks before making a purchase.

Buyers and Sellers Love to Do Their Research

We have a complete list of features buyers love in online property websites. Our website www.LeeCountyOnline.com is a real winner with buyers and sellers alike.  Research also shows more online features buyers and sellers would like to have about the neighborhood and about their home.  Therefore, we’re releasing an upcoming app that will show community info with news about the neighborhood, local parks, schools, businesses, home values, events, etc.  It will be a personalized feed for each person, not a generic page about a neighborhood.  We’ve tested over a million consumers and they absolutely love the new app. We can setup as a web page right now until the app is released, so you have flexibility to use on mobile or desktop.

Home buyers love it because we use artificial intelligence to identify features a buyer likes but may not have specifically asked for.  For instance, a buyer may say they want a specific area, specific square footage, and specific price, and yet the system picks up that they also love light colored kitchens.  They never said that, and didn’t even know it themselves, but that’s what they like.  Our new system can pick-up on that and make suggestions.  If you’d like an invite for the new system, send me an email to brett@topagent.com

If you’re looking to buy or sell, always call the Ellis Team at Keller Williams Realty 239-489-4042 Ext 4.  Good luck and Happy House Hunting!

Ellis Team Weekend Open Houses

Open House Sunday 12-3 PM

7152 Reymoor Dr  Riverfront Home

Riverfront Home Open House Sunday 12-3 PM

Open House Sunday 12-3 PM

6980 Saint Edmunds Loop Brookshire

Brookshire Open House Sunday 12-3 PM

Open House Sunday 12-3 PM

17561 Cherry Ridge Ln  Timberwalk

Timberwalk Open House Sunday 12-3 PM

 

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