Every year the National Association of REALTORS® puts out their profile of homebuyers and sellers that give you the statistics on what buyers and sellers are looking for but they also tell where advertising dollars should be spent. If you are a broker or REALTOR® who wants to stay ahead of the competition then you MUST buy this book. It beats any piece of technology you could ever buy.
Here is what is included in the 2007 Profile of Home Buyers and Sellers
Characteristics of Home Buyers
1. Age of home buyers by region
2. Household income of home buyers, by region
3. Adult composition of home buyer households
4. Number of children under the age of 18 residing in household
5. Race/ethnicity of home buyers, by region
6. Race/ethnicity and composition of household
7. Primary language spoken
8. National origin of home buyers
9. First time home buyers
10. First time home buyers by region
11. First time home buyers by household type
12. Repeat home buyers by household type
13. Age of first time and repeat buyers
14. Household income of first time and repeat buyers previous year
15. Race/ethnicity of first-time home buyers
16. Primary language spoken in first time and repeat buyer household
17. National origin of first time and repeat buyers
18. Prior living arrangement of first time and repeat buyers
19. Prior living arrangement, by adult composition of household
20. Primary reason for purchasing a home, first time and repeat buyers
21. Primary reason for purchasing a home, by age
22. Reason for purchasing and composition of household
23. Primary reason for purchasing a home, by adult composition of household
24. Number of homes currently owned, by age
25. Other homes owned by age
26. Likelihood of purchasing another home within 2 years, by age
27. Use of social networking web sites, by age
Characteristics of Homes Purchased
1. New and previously owned homes purchased
2. New and previously owned homes purchased by region
3. Types of homes purchased, by location
4. Type of home purchased by first time and repeat buyers, and buyers of new and previously owned homes
5. Type of home purchased, by adult composition of household
6. Location of home purchased, by region
7. Location of home purchased by first-time and repeat buyers, and buyers of new and previously owned homes
8. Location of home purchased versus location of home sold
9. Distance between home purchased and previous residence
10. Factors influencing neighborhood choice, by location
11. Factors influencing neighborhood choice, by adult composition of household
12. Price of homes purchased, by region
13. Price of home purchased, new and previously owned
14. Price of home purchased, first time and repeat buyers
15. Purchase price compared with asking price by region
16. Size of home purchased, first time and repeat buyers, and buyers of new and previously owned homes
17. Size of home purchased, by adult composition of household
18. Home size and price per square foot by region
19. Characteristics of home on which buyer compromised, by location
20. Characteristics of home on which buyer compromised, first-time and repeat buyers, and buyers of new and previously owned homes
21. Expected length of tenure in home purchased, first time and repeat buyers, and buyers of new and previously owned homes
22. Expected length of tenure in home purchased, by age
23. Purchase price, primary residence and second home
24. Type of home primary residence and second home
25. Location of home, primary residence and second home
The Home Search Process
1. First step taken during the home buying process, first time and repeat buyers
2. First step taken during the home buying process by age
3. Information sources used in home search, by first time and repeat buyers, and buyers of new and previously owned homes
4. Information sources used in home search, by age
5. Frequency of use of different information sources
6. Usefulness of information sources
7. Length of search by region
8. Length of search for buyers who used an agent, by first time and repeat buyers
9. Where buyer found the home they purchased, 1997-2007
10. Use of the internet to search for homes, 2003-2007
11. Actions taken as a result of internet home search, first time and repeat buyers
12. Characteristics of home searchers and search activity, by use of internet
13. Information sources used in home search, by use of internet
14. Where buyers found the home they purchased, by use of internet
15. Method of home purchase, by use of internet
16. What home buyers were looking for online, first time and repeat buyers
17. What home buyers were looking for online, by age
18. Value of web site features
19. Web sites used in home search by first time and repeat buyers
20. Web sites used in home search, by age
21. Number of visits to home prior to closing, by first time and repeat buyers, and buyers of new and previously owned homes
22. Number of weeks from sales contract to closing by first time and repeat buyers, and buyers of new and previously owned homes
Home Buying and Real Estate Professionals
1. Method of home purchase 1997-2007
2. Method of home purchase, by region
3. Method of home purchase, new and previously owned homes
4. Method of home purchase, by adult composition of household
5. Agent representation disclosure, first time and repeat buyers
6. Buyer representation arrangement with agent, first time and repeat buyers
7. How real estate agent was compensated
8. What buyers want most from real estate agents
9. What buyers want most from real estate agents, first time and repeat buyers, and buyers of new and previously owned homes
10. What buyers want most from real estate agents, by adult composition of household
11. Number of real estate agents used in the home search
12. Benefits provided by real estate agent during the home purchase process, first time and repeat buyers
13. How buyer found real estate agent, first time and repeat buyers
14. How buyer found real estate agent, by adult composition of household
15. Number of real estate agents interviewed by first time and repeat buyers
16. Most important factors when choosing an agent
17. Importance of real estate agent skills and qualities
18. Agent skills and qualities considered very important by first time and repeat buyers
19. Agent skills and qualities considered very important by adult composition of household
20. Satisfaction with real estate agent skills and qualities
21. Would buyer use real estate agent again or recommend to others
Financing the Home Purchase
1. Buyers who financed their home purchase, by age
2. Buyers who financed their home purchase, by adult composition of household
3. Percent of home financed by first time and repeat buyers, and buyers of new and previously owned homes
4. Sources of down payment, first time and repeat buyers
5. Sources of down payment, by adult composition of household
6. Type of mortgage, first time and repeat buyers
7. Home purchase is a good financial investment, first time and repeat buyers, and buyers of new and previously owned homes
8. Home purchase is a good financial investment, by adult composition of household
Home Sellers and Their Selling Experience
1. Age of home sellers, by region
2. Household income of home sellers, 2006
3. Adult composition of home seller households, 2004-2007
4. Number of children under the age of 18 residing in home seller household
5. Race/ethnicity o fhome sellers, by region
6. Primary language spoken in home seller household, by region
7. Location of home sold
8. Proximity of home sold to home purchased
9. Type of home sold, by location
10. Size of home purchased compared to home recently sold (Trading up or trading down)
11. Size of home purchased compared to home recently sold, by age of seller
12. Primary reason for selling previous home, by age
13. Tenure of previous home, by type of home
14. Tenure of previous home, by age of seller
15. Number of homes previously owned, by age
16. Distance between home purchased and home recently sold, by region
17. Distance between home purchased and home recently sold, by age
18. Tasks performed in the selling process
19. Method used to sell home, by region
20. Method used to sell home, by seller urgency
21. Method of sale, by buyer and seller relationship
22. Method used to sell home
23. Sales price compared with list price, by region
24. Sales price compared with listing price, by seller urgency
25. Undertook home improvement or remodeling projects within 3 months prior to putting home on the market
26. Amount spent on home improvement projects, by type of home
27. Amount spent on home improvement projects, by original list price
28. Number of weeks recently sold home was on the market, by region
29. Sales price compared with list price, by number of weeks home was on the market
30. Number of times asking price was reduced, by number of weeks home was on the market
31. Satisfaction of the selling process
Home Selling and the Real Estate Professionals
1. Method used to find real estate agent
2. Number of agents contacted before selecting one to assist with sale of home
3. Did seller use the same real estate agent for their home purchase?
4. What sellers most want from real estate agents
5. Most important factor in choosing a real estate agent to sell home
6. Home listed in multiple listing service
7. Level of service provided by the real estate professional
8. Level of service sought from the agent, by characteristics of sellers and homes sold
9. How real estate agent was compensated
10. Negotiating the commission rate or fee with the real estate agent
11. Would seller use real estate agent again or recommend to others
For Sale by Owners
1. FSBO and agent assisted sales by location
2. FSBO and agent assisted sales 2003-2006
3. Characteristics of FSBO and agent assisted sellers
4. Type of home sold, FSBO and agent assisted sellers
5. Location of home sold, FSBO and agent assisted sellers
6. Selling price, FSBO and agent assisted sellers
7. Time on the market, FSBO and agent assisted sellers
8. Seller urgency, FSBO and agent assisted sellers
9. Most important reason for selling home as FSBO
10. Method used by FSBO sellers to market home
11. Most difficult task for FSBO sellers
12. Buyers of FSBO home as assisted by a real estate agent
13. How real estate agent used by buyer of FSBO home was compensated
14. How FSBO sellers will sell their current home
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