Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Housing News

Top home seller trends for 2011 – almost all consumers now enlist a Realtor

2011 Home Seller profile

The 2011 National Association of Realtors® Profile of Home Buyers and Sellers recently surveyed 5,708 home buyers and sellers and found not only that home sellers are staying in their homes longer (now 9 years up from 6 just two years ago), but home buyers are expecting to stay longer in their homes (15 years, up dramatically from 10 in recent years).

The National Association of Realtors (NAR) study also revealed that 87 percent of home sellers sold their home with the assistance of a real estate agent, compared to the 89 percent of home buyers that used a real estate professional, which is at a ten year high. Most consumers transacting real estate this year use the services of a real estate professional, likely welcome news to Realtors.

The share of home sellers working with an agent was highest in the Northeast at 90 percent and lowest in the Midwest at 85 percent.

The study showed that 10 percent of sales were for sale by owner (FSBO) and that FSBO sales were highest in the Midwest at 13 percent and lowest in the West at just 6 percent.

Advertisement. Scroll to continue reading.

According to the trade association, “The method of sale tends to differ in conjunction with the relationship between the buyer and seller. If the buyer and seller know each other, the sale can be either an armslength transaction consistent with local market conditions or it may involve considerations that would be not be relevant in the absence of a prior relationship.”

Of all home sellers, 6 percent say they knew the buyer of their home, down 2 percent from last year. Among sellers who used a Realtor, only 3 percent knew the buyer.

The story is very different for FSBO sellers – over one in three knew the buyer of their home prior to the transaction.

Most people now use a Realtor, and fewer people know the buyer of their home than last year. FSBOs account for roughly one in ten home sellers, and of those FSBOs, one in three knew the seller before the transaction. The sales method differed depending on what region a seller is in, with real estate professionals being most widely used in the Northeast.

Advertisement. Scroll to continue reading.

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.


Leave a Reply

Your email address will not be published. Required fields are marked *


American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.




Business Entrepreneur

It's a long and winding road in life as an entrepreneur, from building from the ground up to sustaining success. Joy comes in the...

Opinion Editorials

Are you trying to figure out how you can stand out to recruiters and hiring managers in this job market? Look no further than...

Business Marketing

The field of marketing has been around the sun and back, whereas experience design is a newer, but growing field. Where do they overlap?

Opinion Editorials

Quiet quitting is a phrase spreading like wildfire and it is already contentious and misunderstood. Let's discuss.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.