How would you answer these questions about home buying & selling?

July 21, 2010

Came across a quiz today that talked about today’s home buyers and sellers. We wanted to share with you some of the most common findings about home buyers and sellers from a NAR 2009 Buyer and Seller study.  You may find it interesting to see if you fit the "norm"… or not!  Please feel free to make a comment and let us know your thoughts.

1. What service did sellers most often say they wanted from their real estate agent? Pricing the home competitively to sell. 22% of the respondants to the 2009 NAR Home Buyer/Seller surveyed stated pricing help was the most important. After that 21% said help in finding a buyer and 19% marketing the home to buyers; 19% said selling the home in a particular time frame. What would your answer be?

2. What service did buyers say was what they wanted most from their real estate agent? 50% of respondents wanted help finding the right home. 16% wanted assistance negotiating and just 2% said help with finding financing.  What would your answer be?

 3. The typical home buyer searched for how long before buying?  12 weeks and they looked on average at 12 homes. The typical buyer searched for 2 weeks before contacting an agent. How does that compare to your buying process?

4. What was the most common incentive sellers offered in their sale? 68% of sellers in the survey did not offer an incentive, but of those that did, a Home Warranty was most popular.

5. What feature on real estate websites were the most useful? 84% said photos of the property were very useful. Buyers also reported as "very useful": detailed property information (82%), virtual tours (63%), realtor contact info (46%) and interactive maps (43).  Make sure the pictures on your property are plentiful and beautiful. 

6. What was the first step in the home buying process? In this NAR survey, 36% began online and 18% began with a Realtor.  What about you? How did you start?

7. Of buyers who started searching for a foreclosed home but did not end up buying one, what was the most common reason? 25% said they could not find the right home, 17% said poor condition, 16% said the process was too difficult.  Are you considering looking at foreclosed properties in Wisconsin?

8. What environmentally friendly features were most important to those looking for a home? 40% said heating and cooling costs were very important and 48% said somewhat important.  25% also appreciated eneregy efficient appliances.  If your home is energy efficient, make sure buyers know about it.

9. What age range represented most buyers? The 25-42 age range made up 34% of buyer with 35-44 age range buyers coming in second at 22%. The median age for all home buyers was 39 and 30 years old for first time buyers.

10. What was the most frequently given reason for selling a home? Job relocation. 22% of this younger group moved for a job. 19% sold because the house was too small. (This was the top reason for sellers aged 44 and younger.) Moving closer to friends/family was most important among 65+.  There are many reasons for selling a home and every situation is different. Whatever your reason is, First Weber can help

11. What was the most common factor that influences buyers in selecting an area to live? 64% of buyers chose the quality of the neighborhood, 50% chose proximity to work and 43% chose overall affordability.  What features are most important to you?

What is important to you when buying and selling Wisconsin real estate? Are you "typical" based on this report?  We would not be surprised if you weren’t since the home buying and selling process can be a very personal, with unique issues or concerns.  First Weber Group sells real estate all across Wisconsin and is ready to help you with your unique home buying and/or selling process. Please let us know how we can help you.

Thanks for reading the First Weber Wisconsin real estate blog.

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