How Does a Home Sell?
Most home owners want to know, how does a home sell? NAR (National Association of REALTORS®) conducts an intensive survey and produces a report every year that spells out exactly how a home sells – by the numbers.
This is a summary of some highlights with commentary from the 2013 NAR Home Sales Report:
How the buyer finds the home:
- Age 18 to 24 = 91% Internet
- Age 25 to 44 = 93% Internet
- Age 45 to 64 = 88% Internet
- Age 65+ = 75% Internet
- Overall 92% of buyers are using the internet to find their home.
Nearly every buyer uses the Internet to find a home. If they are not visiting an online website, chances are they are using a Mobile App. They also use REALTORS®, Open Houses, and Yard Signs, usually in combination with the Internet. They typically do not use print ads or TV ads.
How the home sells:
- Internet + REALTOR® = 88%
- Yard Sign + Open Houses (*Mostly Internet Driven) + REALTOR® = 9%
- Direct from seller (Mostly not on public market) = 2%
- Print Ads or TV Ads = 1%
What can the home seller control?
- Have the best possible Internet exposure. Receive the most views.
- Use a professional REALTOR®.
- Have a professional information driven yard sign.
- Have Internet advertised (and sign advertised) Open Houses.
- Make sure the home is as presentable and accessible as possible.
As a Portland Real Estate Agent I believe it is my job to know exactly how a home sells. I believe nothing is more important than Internet exposure and I believe I produce the highest numbers in the industry (over 100,000 actual home buyer views per home). This is accomplished through paid featured listings on the top four real estate websites in the nation and syndication to hundreds of other sites. In addition it is crucial to have a fantastic yard sign, advertised open houses, and a presentable home. As part of my full service, professional services I recommend (or provide myself) the best home stagers, consultants, and professional photographers the Portland real estate industry has to offer. Check out my full home selling presentation here.October 3, 2012