RealEstate.com Survey Polls Home Sellers and Real Estate Agents

Survey reveals key factors to consider when selling a home
RISMedia
Selling a home can be an overwhelming experience for any homeowner, whether it’s your first time or tenth time. In a recent survey, both home sellers and real estate agents provided information that sheds light on the many important factors that should be considered to successfully sell a home.

The survey, commissioned by RealEstate.com, asked 500 recent home sellers and 100 licensed, practicing real estate agents about the variety of critical elements involved in selling a home.

So what did successful home sellers have to report? The majority (65 percent) said that hiring a real estate agent to facilitate the sale is the best way to get the process off to a good start.

Pricing their homes was of major importance to sellers when they prepared to sell, and 51 percent of sellers and 64 percent of real estate agents agreed that setting an asking price at 5 to 10 percent above what the seller would actually accept is a good range to follow when putting a house on the market.

Despite recent reports of housing booms and hot markets with inflated prices, 37 percent of sellers surveyed reported selling their homes at the list price, and more than half of the overall respondents reported selling at or below $250,000 (57 percent).

Other key findings include:

• The length of time needed to sell a home varied between sellers and real estate agents. Thirty-three percent of sellers reported that their homes sold within the first two weeks of putting it on the market, with another 27 percent citing homes selling within the first month. On the other hand, 41 percent of real estate agents suggest budgeting 2-3 months from the time you put your home on the market to selling it.

• Sellers and real estate agents agree that the local school system is the most important factor that buyers consider when choosing a home (48 percent sellers, 40 percent real estate agents).

“Selling a home can be an anxious and intense time for homeowners - and there aren’t nearly as many resources available to today’s home sellers as there are to homebuyers,” said Holly Slaughter, brand manager and consumer experience expert at RealEstate.com. “Sellers who look to real estate agents for expertise about specific markets, tips and advice often know the key steps to address that many often overlook, giving them the leg up they need to stand out and sell their homes.”

In addition to maximizing the timing and pricing for a sale, there are a number of other details that sellers should consider before posting the ‘For Sale’ sign out front. Additional survey findings revealed:

• Fifty-five percent of real estate agents felt that having a comprehensive comparative market analysis (CMA) done is a very smart thing to do before selling a home.
• Real estate agents and sellers report the kitchen is the room that prospective home buyers care most about (59 percent sellers, 37 percent real estate agents).
• Fifty percent of sellers and 38 percent of real estate agents said ‘cleaning everything’ is the most important factor for a seller to consider when getting a house ready for a showing.
• Home sellers and real estate agents agree that enhancing the lawn/landscape is the top priority for getting the exterior of a home ready to sell (51 percent sellers, 40 percent real estate agents).