Snapshot: NAR Profile of Home Buyers and Sellers
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Snapshot: NAR Profile of Home Buyers and Sellers

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A brief look at highlights from the 2011 NAR Profile of Home Buyers and Sellers, Jessica Lautz, NAR Midyear Meeting

A brief look at highlights from the 2011 NAR Profile of Home Buyers and Sellers, Jessica Lautz, NAR Midyear Meeting

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  • One in five contacted 2 agents.
  • 44 percent have at least one childMoving 19 miles away.

Snapshot: NAR Profile of Home Buyers and Sellers Snapshot: NAR Profile of Home Buyers and Sellers Presentation Transcript

  • Profile of HomeBuyers and Sellers Jessica Lautz May 17, 2012
  • Home Buyers
  • Demographics Have Changed 2011 Profile 2010 ProfileMedian Age 45 39Gross HH Income $80,900 $72,200Household Composition 64% married couples, 58% married couples, 18% single females, 20% single females, 10% single males, 12% single males, 7% unmarried couples 8% unmarried couplesChildren in Home 36% 35%Own a 2nd Home 19% 14%
  • Why do buyers want to own today? First-time Repeat All Buyers Buyers BuyersDesire to own a home of my own 27% 60% 8%Desire for larger home 10 2 15Job-related relocation or move 10 3 13Change in family situation 8 7 8Affordability of homes 8 11 6Desire to be closer to family/friends/relatives 7 1 10Desire for a home in a better area 5 1 7Retirement 5 1 7
  • Expected Tenure in Home1614121086420 2006 2007 2008 2009 2010 2011 First-time Buyers Repeat Buyers
  • The Search Process
  • Use of Information Sources Internet 75 13 12Real estate agent 68 19 13 Yard sign 20 35 45 Open house 13 32 55 Print newspaper… 7 23 70 Home book or… 4 14 81 Home builder 7 10 84 Relocation…1 2 96 Television 1 3 96 0% 20% 40% 60% 80% 100% Frequently Occasionally Rarely or not at all
  • Satisfaction With Buying Process Somewhat Very Dissatisfied Dissatisfied 8% 2%Somewhat Very Satisfied Satisfied 58% 32%
  • Method of Home Purchase All Buyers Northeast Midwest South WestThrough a real estate agent or broker 89% 88% 90% 86% 93%Directly from builder or builders agent 7 6 5 9 5Directly from the previous owner 4 6 5 4 2 Knew previous owner 2 4 2 2 1 Did not know previous owner 2 2 3 2 1
  • Referrals Matter • 50% used an agent that was referred to them or they had worked with before • 89% would refer their agent or work with them again • 65% of home buyers contacted only 1 agent during their search process
  • Home Sellers
  • Who is selling today? Typical seller: • 53-years-old • $101,200 • 77% married • 13% single females • 6% single males • 3% unmarried couples • Typically lived in their home for 9 years
  • Why are sellers moving?• Job relocation• Home is too small• Want to move closer to friends or family• Neighborhood has become less desirable• Change in family situation (e.g., marriage, birth of a child, divorce)
  • Satisfaction With Selling Process Somewhat VeryDissatisfied, 1 Dissatisfied, 5 0 Very Satisfied, 54 % SomewhatSatisfied, 31
  • Method Used to Sell Home, 1991-2011100 4 1 4 4 4 4 2 3 3 3 4 3 3 7 8 90 80 70 60 77 82 81 80 77 50 79 83 82 85 84 85 84 85 88 87 40 30 20 10 19 17 15 18 16 13 14 14 13 12 12 13 11 9 10 0 All FSBO (For-sale-by-owner) Agent-assisted Other
  • Method to Market Home All HomesListing on the Internet 92% Other Web sites with real estate listings (e.g. Yahoo, Google, etc. 27 Social networking Web sites (e.g. Twitter, FaceBook, etc.) 5 Video hosting Web sites (e.g., YouTube, etc.) 3Yard sign 77Open house 58Print newspaper advertisement 31Real estate magazine 25Direct mail (flyers, postcards, etc.) 18Video 14Television 3
  • Referrals Matter • 61% used an agent that was referred to them or they had worked with before • 85% would refer their agent or work with them again • 66% of home sellers contacted only 1 agent during their search process
  • Preview of the 2012 Member Profile
  • Years of Experience of Members 25 2425 2020 18 15 1415 12 11 91050
  • Evolving Communication Methods with Clients Current clients/ Past clients/ Potential clients/ customers customers customersE-mail 93% 67% 65%Telephone 89 58 59Text messaging 66 29 26Postal mail 28 42 38Instantmessaging (IM) 21 8 8Blog 4 5 8Podcast 1 1 2
  • Median Age of Members is Rising5756 56 565554 54 545352 52 52 52 5251 51 51504948 1999 2001 2003 2005 2007 2008 2009 2010 2011 2012