You are considering selling your home, and you aren’t sure if you should sell with a Realtor or by yourself. Which will bring you more buyers? Think Realtors.
Some interesting things
The Association of Real Estate License Law Officials estimates that there are about 3 million active real estate agents in the US. In 2017 there were 106,548 brokerage firms.
So what are they doing? Well, the American Housing Survey said that in 2018 there was approximately 119.7 million occupied housing units. The typical home seller has been in their home for 10 years. They typical home size is 1,900 square feet and the typical homeowner is 47 years old in 202o as of the National Association of REALTORS® (NAR) Of the sold homes in 2020 were 5.64 million existing homes and 822,000 newly constructed.
The NAR has as of July 2021 1,534,008 members, 68% percent of Realtors are licensed as sales agents, and 20% of members specialize in residential brokerage. The median number of years of experience is 8 years. Most Realtors work a 35 hour work week and have some college education, or a degree.
Message? Most are hardworking and educated past high school to some extent. They generally pay attention to technology as well. The top three technology tools that most use or plan on using are an iPad, smart phone and digital camera. 91% use social media to some extent and the top sites for Realtors to place listings are realtor.com®, Zillow and Trulia.
Obviously, hiring a Realtor means that you will have a qualified person helping with your home sale, but how much of a help will they be? Well, the NAR showed that 88% of buyers purchased their home through a Realtor – a share that has steadily increased from 69% in 2001.
The average sales price for an agent based sale was $295,000. For sale by owner (FSBO) sales were 8% of home sales in 2020 and the average sale price was $217,900. That’s a difference of $77,100! They also don’t have the assistance of a professional who understands the process and paperwork.