Seller Facts

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Here are some fun facts about recent home sellers. This research comes from the National Association of Realtors survey of home buyers and sellers:

  • 10 years = the average time recent home sellers have lived in their home. This number has remained essentially unchanged for the last ten years. From 1987 to 2007 the average was 6 years.
  • 89% = the percentage of home sellers who use a Realtor to help sell their home. This has been trending higher over the last 20 years. In 2001, 79% of home sellers used a Realtor. As the transaction gets more and more complex, more sellers seek the help of a Realtor.
  • 75% = the percentage of home sellers who found their Realtor through a personal relationship as opposed to seeking out an agent they didn’t know.
  • 77% = the percentage of home sellers who only interviewed one Realtor for the job of selling their home.

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Seller Facts

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Here are some fun facts about recent home sellers. This research comes from the National Association of Realtors survey of home buyers and sellers:

  • 10 years = the average time recent home sellers have lived in their home. This number has remained essentially unchanged for the last ten years. From 1987 to 2007 the average was 6 years.
  • 89% = the percentage of home sellers who use a Realtor to help sell their home. This has been trending higher over the last 20 years. In 2001, 79% of home sellers used a Realtor. As the transaction gets more and more complex, more sellers seek the help of a Realtor.
  • 75% = the percentage of home sellers who found their Realtor through a personal relationship as opposed to seeking out an agent they didn’t know.
  • 77% = the percentage of home sellers who only interviewed one Realtor for the job of selling their home.

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107 Straight

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According to research from the National Association of Realtors, home prices have appreciated for 107 straight months.

 

The median price in the U.S. is now $309,000.

 

The U.S. region with the highest median price is the West at $461,800. The lowest is in the South at $263,300.

 

All regions showed double-digit price appreciation from one year ago.

 

While prices are going up all across the U.S., inventory is going down. The number of properties for sale has declined for 20 straight months.

 

Low inventory and high demand are causing properties to sell quickly. It now takes an average of 21 days for a property to go under contract compared to 43 days one year ago.

 

So, the dynamics we notice locally are also occurring nationally.

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Finding the Right Agent to Sell Your Home

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Showing

Selling your home is a collaborative effort between you and your real estate agent. As you prepare to sell your home, it’s important to find an agent who not only can answer your questions throughout the selling process, but who also cares about the happiness and goals of you and your household, as well.

Before You Begin Your Agent Search

 Once you’ve made the decision to sell, there are some things to consider before selecting an agent to work with.

Communicate your reason for selling

  • Behind every homeowner who decides to sell their home there’s a story, and every story is unique. In the early stages of working together, your agent will be processing a lot of information about your timeline and financial goals. Having these details ironed out and ready to communicate will help them understand your motives and guide the process effectively.

 Think about selling strategy

  • Part of a real estate agent’s expertise is knowing the optimal selling strategy to pursue, but no one knows your home better than you. Putting time and effort into thinking about things like how your home will be marketed and how showings will be conducted will help inform your agent’s strategic advice.

 

Finding the Right Agent for You

You and your agent will be communicating throughout the process of selling your home. You’ll be relying on them for updates and information each step of the way. Though your goal in working together is ultimately the sale of your home, your agent’s ability to connect with you on a human level through the emotional ups and downs of the selling process is just as important as their professional attributes. Accordingly, you’ll want to consider what qualities you’re looking for in an agent.

To set yourself up for identifying good candidates, talk to people you trust who know your personality and goals. Get referrals from your family, friends, colleagues, and neighbors. If they recommend someone, follow up with that agent to see if they are a good fit for you.

Searching for an Agent

To give yourself the best pool of potential agents, conduct your search both online and in-person. Exploring an agent’s social media profiles and reading reviews online can be useful in assessing whether they’re someone you want to work with. If in-person showings and open houses are occurring in your market, consider dropping by to get a chance to interact with the agent first-hand. After you have narrowed your agent search, ask for client references to get more insights into what it’s like to work with them.

Agent Certifications

Some agents choose to earn additional certifications or designations that showcase their commitment to additional training, coursework, and learning to help them specialize and advance their capabilities. Depending on your specific needs, certain designations may appeal to you as you go about finding the right agent to sell your home. The National Association of REALTORS® offers the largest number of professional designations. Explore them here: NAR Designations and Certifications

 

For help finding the right agent for you, we’re happy to connect you with an agent here.

 

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Remodeling Impact

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Remodel

Americans spend $400 billion per year remodeling their homes.

So, which remodeling investment gives the best return when it comes to resale value?

It should come as no surprise, especially leading up to Thanksgiving, that the best money to spend upgrading your home is in the kitchen.

It’s the place where most homeowners spend most of their waking hours.

According to the research from the National Association of Realtors, it’s where remodelers will see the biggest return on investment.

Here is the ranking of various projects in terms of the value it adds to the home:

  1. Complete kitchen remodel
  2. Kitchen upgrade
  3. HVAC replacement
  4. Owner’s suite renovation
  5. Bathroom renovation
  6. Finishing a basement
  7. Adding a bathroom

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6 Million

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The National real estate market just hit a massive milestone.

 

Based on the numbers through August, we are now on pace to sell 6 million homes.  This is the highest pace we have seen in 14 years.

 

The 6 million threshold is a big deal in the real estate brokerage world.

 

Each month, as they have for a long time, the National Association of Realtors tracks the sales and then calculates the annualized rate of residential closings.

 

For many, many years this number has bounced around 5.5 million.  The fact that it just jumped to 6 million speaks to many factors especially the effect of today’s interest rates.

running

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

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A Quick Guide to Understanding Real Estate Designations

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What do those letters and acronyms mean at the end of your real estate agent’s name? We’re here to answer that question and explain why it might matter to you. Like other professionals, real estate agents have the ability to specialize in certain areas of the business by earning designations. Those acronyms signify that they have achieved a specific designation through extensive training and education. In simple terms, designations enable agents to increase their skills, proficiency, and knowledge in various real estate sectors. They can also provide agents with access to members-only marketing tools and resources which can be an added benefit to their clients.

So why should real estate designations matter to you? Depending on what your specific real estate needs are, certain designations might mean more to you than others. For example, if you are in need of a real estate agent who can help you or your loved ones transition to a senior living facility, you may want to work with a Senior Real Estate Specialist (SRES), because they are trained to understand the unique needs of seniors and their families in this type of situation.  Or, perhaps you’re selling your LEED-certified home and you want an agent who specializes in marketing these types of properties, then you may want to work with a Certified Green Real Estate Professional (CG-REP).

The National Association of REALTORS® offers the largest number of professional designations, which are designed to provide real estate agents with specialized training in a variety of areas. Here is a list of those designations and how they benefit real estate consumers.

Accredited Staging Professional (ASP): By increasing a home’s appeal to a higher number of buyers, home staging is commonly considered one of the best ways to sell a property more swiftly and for more money. Agents with an ASP designation understand the art of home staging and use special marketing techniques to increase the market value of a home.

Senior Real Estate Specialist (SRES): If you are considering retiring, downsizing or are trying to help an aging loved one transition to an assisted living facility, a SRES trained REALTOR is qualified to help support clients over the age of fifty with lifestyle transitions and major financial decisions. This includes knowing what to look for if you prefer to age in place, finding the resources to support a move from movers to financial advisors, and more.

NAR Green Designation (GREEN): If you are looking to buy or sell  a LEED Certified home, a GREEN REALTOR will have the expertise to help you. They are trained in sustainable and earth-friendly building trends, energy efficiency, and more.

Accredited Buyers Representative (ABR): If you are a first time homebuyer you may want to find an ABR designated agent. They are specially trained to work with buyers through every step of the home-buyer process from mortgage to closing.

Accredited Land Consultant (ALC): Land experts have expert knowledge and experience in land auctioning, leasing, development, farm management, land investment analysis, and tax deferment. This type of designation is not needed for a general home purchase, but if you are looking at investment, development, or farming properties, an ALC can help.

Certified Commercial Investment Member (CCIM): Purchasing or leasing space for your business is different than finding a home for yourself or investment property. If you need a commercial space, a certified commercial agent can help you locate this type of property and negotiate the intricacies of the contracts.

Certified International Property Specialists (CIPS):  International real estate can differ greatly from domestic transactions. If you are looking to purchase a home abroad, consider working with an agent who has their CIPS and specializes in international real estate. They can provide tools for understanding the international process, access to a global referral network, and additional international resources.

Certified Property Managers (CMP): Managing a rental property can be a complicated, time-consuming process. There are specific laws you have to follow, resident screenings, 24 hour maintenance issues, and more. A CMP is specially trained to manage your residential or commercial property on your behalf.

Certified Real Estate Brokerage Manager (CRB): Managing a real estate business involves much more than overseeing an office with staff, marketing, and other resource needs. CRBs go through certification and extensive training for supervising a real estate brokerage, with essential business development and management requirements.

Certified Residential Specialist (CRS): The prestigious CRS designation is awarded to experienced REALTORS who have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate. This designation signifies one of the highest levels of success a REALTOR can achieve.

Seller Representative Specialist (SRS): Sometimes referred to as a “listing agent”, there are agents who specialize in working specifically with sellers. These agents have special training in all areas of the home selling process, providing increased professional standards and marketing expertise.

Certifications:

Military Relocation Professional Certificate (MRP): If you are a military service member or are relocating on behalf of the military, an MRP is specifically trained to address your relocation needs.  They can help you navigate through the financial process because they are aware of the benefits available to service members and can address the unique relocation needs of military clients.

Resort & Second-Home Property Specialist Certification (RSPS): If you have a destination property, consider working with a RSPS certified agent to manage the buying, selling, or management process. They have training specific to managing investment, retirement, resort, and vacation destination properties.

Short Sale & Foreclosure Certification (SFR®): Short sales are different than typical home sales because they deal directly with financial institutions. SRF certified agents are experienced at negotiating these types of transactions and are trained to work with finance, tax and legal professionals on behalf of distressed sellers.

Go here for a complete list of designations: http://www.realtor.org/designations-and-certifications

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