National Association of Realtors® Profile of Home Buyers and Sellers of 2007 Shows 81 Percent of Sellers Use Full Service Brokers
You are invited to Share Your Experience with your Ann Arbor Real Estate Transaction.
NAR mailed an eight-page questionnaire in August 2007 to a national sample of 150,000 home buyers and sellers who purchased their homes between July 2006 and June 2007, according to county records.
Most sellers continue to value full-service brokerage, where real estate agents provide the full range of services to manage the entire process of selling a home. Limited services, which may include discount brokerage, and minimal services also are important business models for sellers who want to take an active role in the process such as holding open houses, advertising, contacting potential buyers, negotiating terms, hiring an attorney, arranging for clear title, or preparing the contract. All of these services are provided by Realtors® as well as non-member agents and brokers.
The study finds 81 percent of sellers use full-service brokerage, 9 percent choose limited services and 9 percent use minimal service, such as simply listing a property on a multiple listing service. These are similar to the 2006 survey results.
Home buyers are clear in their expectations of real estate agents. The most important are helping them to find the right house, and negotiating sales terms and price. Because agents often are chosen based on a referral, or were hired in a previous transaction, 80 percent of buyers use only one real estate agent in the search process.
In our practice, we are a full service brokerage. We offer limited seller services upon request. Our buyers agents always provide the full range of services to guide our clients through a successful transaction. The buyers agents are compensated through the proceeds of the sale, so there is no fee for service charged to the buyer for the professional services rendered.
Your comments are welcome.
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Kathy Toth and Team
Real Estate One
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