Buyer Opinions in NAR Study

The National Association of REALTORS® (NAR) recently released their 2010 Profile of Home Buyers and Sellers. Here are just a few interesting findings regarding buyers:

6 Main Reasons Why People Buy a Home

1. Most mentioned by buyers was the simple desire to own a home of their own.

Other Major Reasons identified by all home buyers, were

2. The desire for a larger home;

3. A change in family situation;

4. A job-related move;

5. The affordability of homes; and

6. The desire to be closer to family and friends, especially repeat for buyers.

When asked where they first learned of the home they purchased, buyers stated the following: 

The Internet

38%

Real estate agent

37%

Yard sign or Open house

11%

A friend, neighbour or relative  

6%

Home builders

4%

Print or newspaper ad

2%

Directly from the seller

2%

Home magazine, less than  

<1%

Buyers and REALTORS®

Most Important Factors in choosing and agent are trustworthiness and reputation.

83% of buyers purchased their home through a real estate agent or broker.

Real estate agents were viewed as a very useful information source by 81% of buyers who used an agent while searching for a home.

Benefits Buyers Had When Using an Agent

Helped buyer understand the process:

66%

Pointed out unnoticed features and faults with property

52%

Negotiated better sales contract terms

41%

Improved buyers knowledge of search areas

42%

Provided a better list of service providers

41%

Negotiated a better price

34%

Source: NAR, 2010 Profile of Home Buyers and Sellers

 

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