Highlights of NAR Profile of Home Sellers

    Highlights of NAR Profile of Home Sellers

    Nov 12, 2019

    For most consumers, selling your home is one of the largest financial transactions you will make. Needing to sell a home may be caused by a change in employment, relocating, desire to downsize, or the need for a smaller or larger living area.

    Each year the NATIONAL ASSOCIATION OF REALTORS® conducts a survey of recent home sellers.

    Here's a snapshot of the findings from the 2019 Report:

    Home Sellers and Their Selling Experience

    • For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (16%), that it was too small (13%), and a job relocation (11%).
    • 89% of home sellers worked with a real estate agent to sell their home.
    • For recently sold homes, the final sales price was a median of 99% of the final listing price.
    • 34% of all sellers offered incentives to attract buyers.

    Home Selling and Real Estate Professionals

    • 75% of recent sellers contacted only one agent before finding the right agent they worked with to sell their home.
    • 89% of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home.
    • 75% of sellers reported that they provided the agent’s compensation.

    For-Sale-by-Owner (FSBO) Sellers

    • The median age for FSBO sellers is 60 years
    • 65% of FSBO sales were by married couples that have a median household income of $94,000.
    • FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $200,000 last year (the same as the year prior), and significantly lower than the median of agent-assisted homes at $280,000.
    • FSBO homes sold more quickly on the market than agent-assisted homes. 
    • 58% of FSBO homes sold in less than two weeks—often because homes were sold to someone the seller knows.