Friday, November 17, 2006

Real Estate is a Face to Face Business

The role of the REALTORĀ® continues to be an important factor in the real estate transaction for consumers, according to NAR's "2006 Profile of Home Buyers and Sellers." Despite the increasing use of technology during the home search process, 81 percent of buyers who used the Internet to search for a home purchased their home through a real estate agent. According to the study, buyers listed several benefits to using an agent, including the agent's knowledge of the home buying process, the property, and the area. Additionally, word of mouth recommendations continued to be the leading way buyers found their agent. The survey also found that more than 80 percent of sellers used a full service brokerage, while 9 percent used limited services. The percentage of for sale by owner transactions has decreased over the last few years, reaching a record low of 12 percent this year.

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