This week one highlight was the opportunity to engage with “the Pope” – ok, Alan Pope – at our November Luxury Breakfast. Having a local appraiser who has been a part of 5 full and now going on 6 market cycles is an absolute tool in our toolbox. A few digestible soundbites worth noting allowing us to set + reset expectations with buyers + sellers.
Market is still undersupplied.
The media is the biggest factor in our slow down.
We are in a “stable” market.
Our moment of change in this market was May 2018.
Seattle now more diverse economically than ever.
Want to move beyond these digestible bites and look at the data? Check our Alan Pope’s website and consider using these graphs with your clients. An incredible tool for those willing to know the #’s. “Show vs Tell”…
Market Trends Charts – January 2013 through October 2018 here.
Three weeks ago we took an insightful quiz together regarding the 2018 BUYER profile. Ready for another? Let’s dive into the 2018 SELLER profile…
Grab pen + paper and spend the next few moments answering the below questions. Yes, I promise the answers are available within this blog post! That said, don’t cheat and let’s see how you do! Ps, the goal of this quiz isn’t to necessarily get the answers right – instead, we are together picking apart the National Association of REALTORS 2018 Profile of Buyers an Sellers. If we do this well – if we look at this “industry research” with insightful eye my gut tells me you too could take such analysis and turn into your strategy as we head into 2019. Yup, I’m still on the business planning track…
Do you have your writing utensil and paper of choice ready? Good, let’s go…
INDUSTRY RESEARCH UPDATE: According to the National Association of REALTORS 2018 Profile or SELLERS:
The average seller is _____ years old?
The percentage of sellers who sold their home in the first time was _______%.
The median national days on market to sell a home last year was _________weeks.
The average distance a seller moved in 2017 was ________miles from their previous home.
_____% of sellers worked with a real estate broker.
[reference point: in 1997 77% of sellers used a broker]
_____% of sellers chose their agent by referral from a friend or family member.
_____% of sellers interviewed only 1 agent.
_____% of sellers were “satisfied or very satisfied” with the home selling process.
Challenge: What data (big or small) from the National Association of REALTORS 2018 Profile of Sellers could become strategy for you? Considering adding that to your 2019 business plan!
[As promised, answers below – scroll on down…]
Signing off for now! Nice win Dawgs, congratulations on your ticket to the Rose Bowl! Defense wins ballgames – at least it did tonight!
Laura Smith, Co-owner | Windermere Real Estate Co.
The answer is!…
The average seller is 55 years old?
The percentage of sellers who sold their home in the first time was 32%.
The median national days on market to sell a home last year was 3 weeks.
The average distance a seller moved in 2017 was 20 miles from their previous home.
91% of sellers worked with a real estate broker.
63% of sellers chose their agent by referral from a friend or family member.
75% of sellers interviewed only 1 agent. ***Be first! = FLOW!
89% of sellers were “satisfied or very satisfied” with the home selling process.