What’s the Home Selling Experience Like?

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When it comes to selling a home, enlisting the help of real estate professional is the way to go. Sure, we might be biased because we’re real estate brokers, but we’ve seen time and again that individuals that try to sell a property on their own simply can’t tap into the network and referral sources that a real estate professional can bring to the table, let alone place a listing on the MLS. So let’s assume you’ve decided to sell your home. Maybe you want to move to a different neighborhood or you’ve decided to downsize or upsize your existing property because of changing family dynamics. What can you expect? Who makes up the group of home sellers you are about to join? Based on the latest profile of home buyers and sellers from the National Association of REALTORS, here is how you stack up and what you can expect:

- The typical home seller was 54 years old, with a media household income of $100,700

- For all sellers, the most commonly cited reason for selling their home was that it was too small (18 percent), followed by the desire to move closer to friends and family (15 percent), and a job relocation (14 percent)

- Sellers typically lived in their home 10 years before selling

- 89 percent of sellers worked with a real estate agent to sell their home

- For recently sold homes, the final sales price was a median 98 percent of the final listing price

- Recently sold homes were on the market for a median of 4 weeks