The National Association of Realtors® (NAR) has released
their 2015 Home Buyer and Seller Generational Trends report. There are some
real interesting statistics that can show benefits of using a Realtor®. Whether
you are looking to purchase or sell a property, there are many facets of the
transaction that needs the knowledge and experience from a Realtor® to help
guide you through the process.
Benefits of using a Realtor® Buyer/Seller:
64 percent - Help understand the process of either buying
59 percent - Pointed out unnoticed features/faults with
48 percent - Negotiated better sales contract price/terms
48 percent - Improves knowledge of areas and comparables
41 percent -
Provides a better list of service providers
Among the generations, Gen X, 27 percent is the largest
group who are recent home sellers followed by the Older Boomers at 23 percent
and Younger Boomers at 20 percent. There is a clear trend of sellers moving to
larger, higher priced homes for Gen X and Gen Y. The Older Boomers are
downsizing in both square footage and price. Typically, the older the seller,
the longer the tenure in their home has been.
What a seller wants from their Realtor®:
23 percent - Helps seller market the home to potential
20 percent - Helps sell the home within specific time frame
19 percent - Helps price home competitively
14 percent - Helps find a buyer for home
13 percent - Helps seller find ways to fix up home to
sell for more money
5 percent - Helps with negotiation and dealing with
3 percent - Helps with paperwork/inspections/process
How long Sellers own home before selling:
and younger 35-49
2-3 years 20%
4-5 years 30%
6-7 years 21%
Among all generations of the home buying process, the
first step is looking online for properties for sale. The frequency of Internet
use in the home buying process was directly related to age. Younger buyers are
likely to use the Internet throughout the entire process of purchasing a home.
Buyers have all gained benefits from working with a
Realtor® as they all wanted help with the process and help from their agent to
point out unnoticed features and faults with a property. Overall 88 percent of
buyers obtained financing for their home purchase. When financing, younger
buyers financed a larger portion, while older buyers were able to have 20
percent for a down payment.
What buyers want from their Realtor®:
53 percent want help finding the right home to purchase
12 percent want help negotiating the terms of sale
11 percent want help with price negotiations
8 percent want them to determine what the comparables are
for the property
6 percent want help with paperwork
As I have said before, please
call a local Realtor® for all your real estate needs no matter how big or
small. We are trained professionals here to make your life easier. It's best to
surround yourself with the right team of professionals that can continuously
give you the right advice for all your circumstances.
Lisa DiBiase is a broker/owner.
She and her company represent buyers and sellers in the Greater Portland area.
For all your real estate needs contact firstname.lastname@example.org.