One of the growing trends among recent buyers is the fact that 89 percent of buyers purchased their home through a real estate agent or broker. This percentage has increased steadily since a decade ago in 2001, when only 69 percent of buyers enlisted the help of an agent or broker. About two-thirds of recent buyers only interviewed one agent before finding the agent they were working with, and nearly nine out of ten buyers used their agent again or recommended them to others. According to the NAR, “More than ever, homebuyers rely on real estate agents and brokers to help them with their home purchase, regardless of whether the home they are buying is a foreclosure, a short sale, or even an FSBO sale because they need a real estate agent to help them with the process.
While buyer incentives aren't the most important aspect of selling a home, they can tip the balance in your favor if buyers are considering several similar properties. A Clever Real Estate survey found that of the 70% of homebuyers who would consider listing on the FSBO, 19% weren't sure where those listings could be found. Not only do you need to focus on preparing your home for sale (which is the number one difficulty FSBO sellers face), but you also need to focus on finding buyers through marketing, showcasing, and negotiating with potential buyers. Buyers and sellers also provide valuable information about the role real estate professionals play in home sales transactions.
Even though this is a good way for buyers to get a home below its normal price, housing statistics say that more than two-thirds of prospective buyers aren't interested. If you already have a buyer ready, some of the things a real estate agent does, such as holding open days and putting the house in the MLS, are unnecessary. A recent survey of homebuyers found that 37% of buyers believe that online sites are the best way to find a home. This means that nearly a third of all homebuyers need the help of professional real estate agents to ensure a successful transaction.
Impress a potential buyer with your extensive knowledge of the most important real estate sales trends right now. If you already have a buyer, it may make sense to hire a real estate lawyer to help you with the paperwork, rather than turning to real estate agents. But real estate agents themselves bear many of the costs you would otherwise have to bear, such as marketing your home and evaluating buyers. In fact, 34% of FSBO sellers say they didn't use a real estate agent because they already had a potential buyer.
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