Keeping an eye on year end trends can make a big difference in your lead generation. Checkout these stats to make sure you're heading in the right direction in 2017!
1. Young Buyers
89% of millennials, 87% of gen x buyers, and 85% of younger baby boomers purchased their home through an agent in 2016
Almost ALL young buyers used a local real estate expert to complete the home buying process.
Young buyers aren't forgoing the help of agents, and this isn't likely to change with buying being 35% cheaper than renting.
2. Buyers and Sellers Agent Retention
73% of buyers would definitely use the same agent again, 70% of sellers would definitely use the same agent again
These stats are very significant. Your happy clients are your best lead sources.
3. Sellers Feedback
64% of sellers who used an agent found them through a family/friends referral, 25% used the agent they previously worked with to buy or sell a home
Selling is a home can be a stressful and overwhelming experience.
Sellers like a personal touch, and reward their agents by referring them to a family/friend.
4. What About FSBO's?
FSBO's accounted for 8% of home sales in 2016. Unfortunately the typical FSBO home sold for $185K, while agent assisted homes averaged $240K
What a huge difference!
There are various ways in which sellers market their home (although 41% do not market at all), but what they find most difficult is agreeing on the right price.
Many FSBO's end up signing on with an agent, which is very useful information for you when talking to one.
5. First Time Buyers!
35% of all home buyers are first time buyers
This stat is perhaps the most important to note out of all of these.
Buyers and sellers will always be cautious in today's market. They need a local expert to help them through it.
Do you want an all in one real estate system that includes everything you need, all integrated together in one place? Join us for a FREE live webinar!
Statistics via NAR Research
Featured Image via shutterstock.com