Majority of Home Sales Still by Real Estate Agents and Brokers, says NAR

most homes sold by real estate agents and brokersWith the enormous amount of real estate information available online today, it is not surprising for some individuals seeking a career in real estate to wonder about its long-term prospects. But the overwhelming majority, 88%, of home sales is still transacted through a real estate agent or broker, according to the National Association of Realtors®. The number of home buyers using an agent or broker has actually risen since 2001.

Also, most tech savvy millennials prefer using a real estate agent when shopping for a home. Interestingly, the 2015 National Association of Realtors® Home Buyer and Seller Generational Trends revealed that the millennial generation led all other generations in their preference to buy a home through a Realtor® even though they conduct most of their initial research online. With a median age of 29 years old, Millennials have a median income of $76,000 per year.

It’s not as easy as it looks. While many homeowners attempt to sell their home on their own, studies show that most are unsuccessful. In fact, less then ten percent of home sales in 2013 were FSBOs. Also, sellers who used a real estate agent typically sold their homes close to the listing price. The problems that homeowners have trying to sell their own property is not understanding or improperly completing the paperwork and incorrectly pricing the property.

There is a big difference between listing a property for sale and actually selling it. That’s why it is not unusual for a homeowner to eventually list their home with an agent or broker after spending many weeks or months trying to sell it to no avail even in hot markets.

Real estate agents are highly regarded in the community as being among the best and most reliable source for providing true and accurate information regarding local market conditions. They have the training and experience to guide buyers and sellers through the complex and often time consuming real estate process.

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