Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – The findings from the 2004 National Association of RealtorsT Profile of Home Buyers and Sellers show that when it comes to buying and selling a home, consumers are collecting information from many sources but continue to rely on real estate professionals to assist with the transaction. The following are some of the survey highlights: Homebuyers * 40% of homebuyers were purchasing for the first time * their median age was 39 years and median income was $67,100 * more than half of buyers had no children residing at home * 24% of first-time homebuyers identified themselves as African-American, Hispanic/Latino, Asian/Pacific Islander or other Homes * 21% of buyers bought a new home * the median price of homes was $175,000 * the majority of buyers rated neighborhood quality as the most important factor in their selection Searching for a Home * before making their purchase decision, first-time buyers searched for nine weeks and saw nine homes, while the typical repeat buyer searched for seven weeks and saw 10 homes * 90% of buyers used a real estate agent during their search * 53% of buyers used the Internet frequently as part of their home search * 38% of homebuyers first found out about the home they ultimately bought through an agent Homebuyer and Real Estate Professionals * 44% of buyers found their real estate agent through a referral from a friend, neighbor or relative Home Sellers * the typical home seller owned their home for six years * 55% of the sellers bought a home that was larger than the one they sold * 83% sold their home with a real estate agent’s assistance Home Sellers and Real Estate Professional * 73% of sellers contacted only one agent before listing their home * 38% found their listing agent through a referral from a friend, neighbor or family member * when choosing an agent, 54% said an agent’s reputation was the most important factor * 63% of sellers said they’d definitely use the same agent again or recommend them to a friend * 4% of agents were compensated by the seller and paid a flat fee. -

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.