For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.
- 87% of buyers purchased their home through a real estate agent or broker.
- 88% of buyers would use their agent again or recommend their agent to others.
- Only 8% percent (down from 9%) of recent home sales were for sale by owner or FSBO sales. This is the lowest share recorded since this report started in 1981.
Where Buyers Find Their Home:
11% Yard sign
6% Friend | Relative | Neighbor
4% Home builder
2% Knew the seller
1% Home book | Magazine
Source: National Association of REALTORS® PROFILE OF HOME BUYERS 2013