Why Should I use a Lake Martin Area Association Realtor®?

 

Only real estate professionals who are members of the National Association of Realtors® (NAR) can call themselves Realtors®. All Realtors® adhere to NAR’s strict Code of Ethics, which is based on professionalism and protection of the public. That’s why all real estate licensees are not the same.

Dedicated to serving America’s property owners at both local and national levels, the National Association of Realtors®, The Voice for Real Estate, is the largest professional association at over one million members strong. So, whether you’re buying or selling a home- it pays to work with a Realtor®. Look for the REALTOR® logo when choosing your real estate agent.

REMEMBER: Realtors® provide you with invaluable services when buying or selling a home!

Sellers

Realtors® provide sellers many invaluable services. There are many reasons to work with a real estate agent!

• Can give you up-to-date information about the market, prices, financing, terms, and conditions of competing properties
• Will market your property to other real estate agents and to the public
• Will know when, where, and how to best market your property
• Can help you objectively evaluate every buyer’s proposal without compromising your market position
• Can help close the sale of your property

Buyers

Realtors® provide critical assistance with the home buying process! A Realtor®:

• Has many resources to assist you in your home search
• Can provide objective information about each property
• Can help you determine your buying power
• Provides guidance during the evaluation of the property
• Can guide you through the closing process and make sure everything flows together smoothly

 

 

What Do Recent Home Buyers and Sellers Say About Realtors®?

The 2021 NAR Profile of Home Buyers and Sellers provides research results on the experiences home buyers and sellers had when purchasing or selling their home. The majority of the respondents used a Realtor (a member of the National Association of Realtors®)

Here is what the had to say:

Characteristics of Home Buyers

• First-time buyers made up 34% of all home buyers, an increase from last year’s 31%.
• The typical first-time buyer was 33 years old this year, while the typical repeat-buyer age rose to an all-time high of 56 years old.
• 11% of home buyers purchased a multi-generational home, to take care of aging parents, because of children over the age of 18 moving back home, and for cost-saving.
• 14% of recent home buyers were veterans and 3% were active-duty service members.

Characteristics of Homes Purchased

• Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 36%. Buyers who purchased previously-owned homes were most often considering a better overall value at 38%.
• Buyers typically purchased their homes for 100% of the asking price, with 29% purchasing for more than the asking price.
• The typical home that was recently purchased was 1,900 square feet, had three bedrooms and two bathrooms, and was built in 1993.
• Convenience to family and friends was the second most important factor in influencing neighborhood choice after quality of the neighborhood, surpassing convenience to jobs and affordability, which were more important last year.

The Home Search Process

• For 41% of recent buyers, the first step that they took in the home buying process was to look online at properties for sale, while 19% of buyers first contacted a real estate agent.
• Buyers typically searched for 8 weeks, looked at a median of 8 homes and viewed 3 of these homes only online.
• Nearly all buyers used online tools in the search process at 95%.
• 94% of recent buyers were at least somewhat satisfied with their recent home buying process.

Home Buying and Real Estate Professionals

• 87% of buyers recently purchased their home through a real estate agent or broker, and 7% purchased directly from a builder or builder’s agent.
• Having an agent to help them find the right home was what buyers wanted most when choosing an agent at 52%.
• 73% of buyers interviewed only one real estate agent during their home search.
• 90% of buyers would use their agent again or recommend their agent to others.

Home Sellers and Their Selling Experience

• For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (18%), that it was too small (17%), and the neighborhood had become less desirable (11%).
• 90% of home sellers worked with a real estate agent to sell their home.
• For recently sold homes, the final sales price was a median of 100% of the final listing price.
• Only 26% of all sellers offered incentives to attract buyers, a drop from 46% of all sellers last year.

Home Selling and Real Estate Professionals

• 82% of recent sellers contacted only one agent before finding the right agent they worked with to sell their home.
• 89% of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home.
• 76% of sellers reported that they provided the agent’s compensation.

For-Sale-by-Owner (FSBO) Sellers

• Only 7% of recent home sales were FSBO sales this year.
• FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $260,000 last year, significantly lower than the median of agent-assisted homes at $318,000.
• The majority of FSBO sellers, 57%, knew the buyer of the home.