HOME SELLING AND REAL ESTATE PROFESSIONALS€¦ · Crowdsourcing through social media/knew the person through social media1 * 2 Saw the person's social media page without a connection

The 2016 Profile of Home Buyers and Sellers

HOME SELLING AND REAL ESTATE PROFESSIONALS

Exhibit 7-1 METHOD USED TO FIND REAL ESTATE AGENT, BY FIRST TIME OR REPEAT SELLER

Exhibit 7-2 METHOD USED TO FIND REAL ESTATE AGENT, BY MILES MOVED

Exhibit 7-3 NUMBER OF AGENTS CONTACTED BEFORE SELECTING ONE TO ASSIST WITH SALE OF HOME

Exhibit 7-4 SELLER USED THE SAME REAL ESTATE AGENT FOR THEIR HOME PURCHASE, BY MILES MOVED

Exhibit 7-5 HOME LISTED ON MULTIPLE LISTING SERVICEExhibit 7-6 LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENTExhibit 7-7 WHAT SELLERS MOST WANT FROM REAL ESTATE AGENTS, BY LEVEL OF SERVICE

PROVIDED BY THE AGENT

Exhibit 7-8 MOST IMPORTANT FACTOR IN CHOOSING A REAL ESTATE AGENT TO SELL HOME, BY LEVEL OF SERVICE PROVIDED BY THE AGENT

Exhibit 7-9 METHODS REAL ESTATE AGENT USED TO MARKET HOMEExhibit 7-10 HOW REAL ESTATE AGENT WAS COMPENSATED

Exhibit 7-11 NEGOTIATING THE COMMISSION RATE OR FEE WITH THE REAL ESTATE AGENT

Exhibit 7-12 WOULD SELLER USE REAL ESTATE AGENT AGAIN OR RECOMMEND TO OTHERSExhibit 7-13 HOW MANY TIMES SELLER RECOMMENDED TYPICAL AGENT



Exhibit 7-1METHOD USED TO FIND REAL ESTATE AGENT, BY FIRST TIME OR REPEAT SELLER(Percentage Distribution)

Indiana

All sellersFirst-time

SellerRepeat

SellerReferred by (or is) a friend, neighbor or relative 42% 44% 40%Used agent previously to buy or sell a home 22 15 30Visited an open house and met agent 2 3 2Internet website (without a specific reference) 2 6 *Personal contact by agent (telephone, email, etc.) 1 3 *Referred by another real estate or broker 2 * 4Saw contact information on For Sale/Open House sign 2 6 *Referred through employer or relocation company * * *Direct mail (newsletter, flyer, postcard, etc.) * * *Walked into or called office and agent was on duty 4 3 4Newspaper, Yellow pages or home book ad 2 6 *Advertising specialty (calendar, magnet, etc.) * * *Crowdsourcing through social media/knew the person through social media1 * 2Saw the person's social media page without a connection * * *Other 18 15 17

U.S.

All sellersFirst-time

SellerRepeat

SellerReferred by (or is) a friend, neighbor or relative 39% 46% 35%Used agent previously to buy or sell a home 25 22 28Personal contact by agent (telephone, email, etc.) 4 5 4Referred by another real estate or broker 4 4 5Internet website (without a specific reference) 4 4 4Visited an open house and met agent 4 3 4Saw contact information on For Sale/Open House sign 2 2 2Referred through employer or relocation company 2 2 2Direct mail (newsletter, flyer, postcard, etc.) 2 1 3Walked into or called office and agent was on duty 1 2 1Newspaper, Yellow pages or home book ad 1 1 1Advertising specialty (calendar, magnet, etc.) * * *Crowdsourcing through social media/knew the person through social media * 1 *Saw the person's social media page without a connection * * *Other 10 7 11

* Less than 1 percent



Exhibit 7-2METHOD USED TO FIND REAL ESTATE AGENT, BY MILES MOVED(Percentage Distribution)

IndianaAll

sellers10 miles

or less11 - 20

miles21 - 50

miles51 - 100

miles101 - 500

miles501or more

Referred by (or is) a friend, neighbor or relative 42% 43% 38% 33% 100% 56% 38%Used agent previously to buy or sell a home 22 23 25 17 * 22 38Visited an open house and met agent 2 3 13 * * * *Internet website (without a specific reference) 2 * 13 8 * * *Personal contact by agent (telephone, email, etc.) 1 * 13 * * * *Referred by another real estate or broker 2 3 * 8 * * *Saw contact information on For Sale/Open House sign 2 5 * * * * *Referred through employer or relocation company * * * * * * *Direct mail (newsletter, flyer, postcard, etc.) * * * * * * *Walked into or called office and agent was on duty 4 * * 8 * 11 13Newspaper, Yellow pages or home book ad 2 5 * * * * *Advertising specialty (calendar, magnet, etc.) * * * * * 11 *Crowdsourcing through social media/knew the person through social media 1 3 * * * * *Saw the person's social media page without a connection * * * * * * *Other 18 18 * 25 * * 13

U.S.All

sellers10 miles

or less11 - 20

miles21 - 50

miles51 - 100

miles101- 500

miles501or more

Referred by (or is) a friend, neighbor or 39% 41% 40% 45% 40% 30% 38%Used agent previously to buy or sell a home 25 27 31 23 20 27 21Personal contact by agent (telephone, email, etc.) 4 4 6 3 6 5 4Referred by another real estate or broker 4 3 4 5 3 8 5Internet website (without a specific reference 4 4 3 2 6 5 4Visited an open house and met agent 4 6 1 3 5 4 1Saw contact information on For Sale/Open House sign 2 3 * 2 * 1 2Referred through employer or relocation 2 * 1 1 3 8 6Direct mail (newsletter, flyer, postcard, etc.) 2 1 3 2 2 3 4Walked into or called office and agent was on duty 1 2 1 2 2 1 2Newspaper, Yellow pages or home book ad 1 1 * * 2 2 2Advertising specialty (calendar, magnet, etc.) * * * * * * *Crowdsourcing through social media/knew the person through social media * * * 1 * 2 *Saw the person's social media page without a connection * * * 1 * * 1Other 10 9 10 11 12 7 10



Exhibit 7-3NUMBER OF AGENTS CONTACTED BEFORE SELECTING ONE TO ASSIST WITH SALE OF HOME(Percentage Distribution)

Indiana

One 75%Two 17%Three 5%Four *Five or more 3%


U.S.

One 72%Two 16Three 8Four 2Five or more 2

75%

17%

5%0% 3%

0

10

20

30

40

50

60

70

80

90

One Two Three Four Five or more

NUMBER OF AGENTS CONTACTED BEFORE SELECTING ONE TO ASSIST WITH SALE OF HOME

(Percentage Distribution)

Indiana

72%

16%

8%2% 2%

0

10

20

30

40

50

60

70

80

One Two Three Four Five or more

NUMBER OF AGENTS CONTACTED BEFORE SELECTING ONE TO ASSIST WITH SALE OF HOME

(Percentage Distribution)U.S



Exhibit 7-4SELLER USED THE SAME REAL ESTATE AGENT FOR THEIR HOME PURCHASE, BY MILES MOVED(Percentage Distribution Among Sellers Who Used an Agent to Purchase a Home)

Indiana

10 miles or less

11 to 20 miles

21 to 50 miles

51 to 100 miles

101 to 500 miles

501or more

Yes 63% 82% 71% 78% 100% * *No 37% 18% 29% 22% * 100% 100%

U.S.All

sellers10 miles

or less11 to 20

miles21 to 50

miles51 to 100

miles101 to 500

miles501or more

Used the same agent 55% 86% 79% 66% 25% 3% 3%Used a different agent 45% 14 21 34 75 97 97

0

10

20

30

40

50

60

70

80

90

100

Allsellers 10milesorless

11to20miles 21to50miles 51to100miles

101to500miles

501ormore

55%

86%79%

66%

25%

3% 3%

45%

1421

34

75

97 97

Usedadifferentagent Usedthesameagent



Exhibit 7-5HOME LISTED ON MULTIPLE LISTING SERVICE(Percentage Distribution)

Indiana

Yes 86%No 7%Don't know 7%

U.S.

Yes 92%No 3%Don't know 6%

Yes, 86%

No, 7%

Don't know, 7%

HOME LISTED ON MULTIPLE LISTING SERVICE(Percentage Distribution)

Indiana

Yes, 92%

No, 3%

Don't know, 6%

HOME LISTED ON MULTIPLE LISTING SERVICE(Percentage Distribution)

U.S.



Exhibit 7-6LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENT(Percentage Distribution)

Indiana

A broad range of services and management of most aspects of the home sale

82%

A limited set of services as requested by the seller

6%

The agent listed the home on the MLS and performed few if any additional services

12%

U.S.


83%


8%


9%

A broad range of services and management of most aspects of

the home sale, 82%

A limited set of services as

requested by the seller, 6%

The agent listed the home

on the MLS and performed

few if any additional

services, 12%

LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENT


Indiana

Indiana

A broad range of services and

management of most aspects of the home

sale, 83%


requested by the seller, 8%

The agent listed the home on the MLS and performed few if any

additional services, 9%

LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENT


U.S.



Exhibit 7-6LEVELOFSERVICEPROVIDEDBYTHEREALESTATEAGENT(percentagedistribution)

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016


83% 81% 81% 80% 80% 80% 80% 81% 79% 79% 83%


9% 9% 9% 9% 8% 10% 8% 9% 9% 9% 8%


8% 9% 9% 11% 11% 10% 12% 10% 12% 12% 9%



Exhibit 7-7WHAT SELLERS MOST WANT FROM REAL ESTATE AGENTS, BY LEVEL OF SERVICE PROVIDED BYTHE AGENT (Percentage Distribution)

Indiana

All sellers


management of most

aspects of the home sale


requested by the seller

The agent listed the home on the MLS and performed few

if any additional

servicesHelp price home competitively 18% 18% * 22%Help sell the home within specific timeframe 20 18 20 22Help find a buyer for home 23 10 20 33Help seller market home to potential buyers 17 36 20 11Help seller find ways to fix up home to sell it for more 14 15 20 11Help with negotiation and dealing with buyers 6 5 20 *Help with paperwork/inspections/preparing for settlement 1 * * *Help seller see homes available to purchase * * * *Other * * * *


U.S.

All sellers


management of most

aspects of the home sale



The agent listed the home on the MLS and performed few

if any additional

servicesHelp seller market home to potential buyers 23% 23% 17% 25%Help sell the home within specific timeframe 20 21 21 14Help price home competitively 19 19 16 21Help find a buyer for home 14 12 21 24Help seller find ways to fix up home to sell it for more 14 15 11 11Help with negotiation and dealing with buyers 4 4 7 1Help with paperwork/inspections/preparing for settlement 4 4 5 1Help seller see homes available to purchase 1 1 1 1Help create and post videos to provide tour of my home 1 1 * 1Other 1 1 * 1* Less than 1 percent

LEVEL OF SERVICE SOUGHT FROM THE AGENT BY THE SELLER




Exhibit 7-8MOST IMPORTANT FACTOR IN CHOOSING A REAL ESTATE AGENT TO SELL HOME, BY LEVEL OF SERVICE PROVIDED BY THE AGENT (Percentage Distribution)

Indiana

All sellers


management of most aspects of

the home sale



The agent listed the home on the

MLS and performed few if

any additional services

Reputation of agent 37% 37% 40% 33%Agent is honest and trustworthy 20 22 20 *Agent is friend or family member 17 15 40 22Agent’s knowledge of the neighborhood 5 6 * *Agent’s association with a particular firm 5 4 * 11Agent has caring personality/good listener 4 4 * *Agent's commission 4 3 * 11Agent seems 100% accessible because of use of technology like tablet or smartphone 5 3 * 22Professional designations held by agent 1 1 * *Other 4 4 * *

U.S.

All sellers


management of most aspects of

the home sale



The agent listed the home on the

MLS and performed few if

any additional services

Reputation of agent 31% 32% 25% 24%Agent is honest and trustworthy 21 22 12 19Agent is friend or family member 14 14 16 16Agent’s knowledge of the neighborhood 14 12 24 15Agent has caring personality/good listener 5 5 1 6Agent’s association with a particular firm 4 4 5 3Agent's commission 4 4 7 5Agent seems 100% accessible because of use of technology like tablet or smartphone 3 3 2 5Professional designations held by agent 1 1 1 1Other 5 4 7 6





Exhibit 7-9METHODS REAL ESTATE AGENT USED TO MARKET HOME(Percent of Respondents Among Sellers Who Used an Agent)

Indiana All HomesMultiple Listing (MLS) website 83%Yard sign 80Open house 49Real estate agent website 54Real estate company website 54Realtor.com 55Third party aggregators 46Print newspaper advertisement 13Direct mail (flyers, postcards, etc.) 10Real estate magazine 6Newspaper website *Video *Other Web sites with real estate listings (e.g. Google, Yahoo) 11Real estate magazine website 2Social networking websites (e.g. Facebook,Twitter, etc.) 21Online Classified Ads 10Video hosting Web sites (e.g. Youtube, etc.) 9Television 4Other *


U.S. All HomesMultiple Listing (MLS) website 89%Yard sign 70Realtor.com 52Real estate agent website 50Open house 47Real estate company website 45Third party aggregators 42Print newspaper advertisement 11Online Classified Ads 11Direct mail (flyers, postcards, etc.) 10Video 8Other Web sites with real estate listings 7Real estate magazine website 7Real estate magazine 6



Exhibit 7-10HOW REAL ESTATE AGENT WAS COMPENSATED(Percentage Distribution)

Indiana

Paid by seller 76% Percent of sales price 96 Flat fee * Per task fee * Other * Don't Know 4Paid by buyer and seller 11Paid by buyer only 5Other 2Don't Know 6

U.S.

Paid by seller 77% Percent of sales price 72 Flat fee 2 Per task fee * Other * Don't Know 2Paid by buyer and seller 12Paid by buyer only 6Other 3Don't Know 3




Exhibit 7-11NEGOTIATING THE COMMISSION RATE OR FEE WITH THE REAL ESTATE AGENT(Percentage Distribution)

IndianaReal estate agent initiated discussion of compensation 42%Client brought up the topic and the real estate agent was able and willing to negotiate their commission or fee

16

Client brought up the topic and the real estate agent was unwilling or unable to negotiate their commission or fee

13

Client did know commissions and fees could be negotiated but did not bring up the topic 11Client did not know commissions and fees could be negotiated 18

U.S.Real estate agent initiated discussion of compensation 48%Client brought up the topic and the real estate agent was able and willing to negotiate their commission or fee

22

Client brought up the topic and the real estate agent was unwilling or unable to negotiate their commission or fee

6

Client did know commissions and fees could be negotiated but did not bring up the topic 11

Client did not know commissions and fees could be negotiated 14

Realestateagentinitiateddiscussionofcompensation,48%

Clientbroughtupthetopicandtherealestate

agentwasableandwillingtonegotiatetheircommissionorfee,22

Clientbroughtupthetopicandtherealestateagentwasunwillingorunabletonegotiate

theircommissionorfee,6

Clientdidknowcommissionsandfeescouldbenegotiatedbutdidnotbringupthe

topic,11

Clientdidnotknowcommissionsandfeescouldbenegotiated,14

Documents

HOME SELLING AND REAL ESTATE PROFESSIONALS€¦ · Crowdsourcing through social media/knew the person through social media1 * 2 Saw the person's social media page without a connection