As the National Association of Realtors' annual Profile of Home Buyers and Sellers marks its 35th birthday today, real estate agents have something to celebrate, too: three and a half decades later, despite a major recession and the dawn of a little something called the internet, their relevance to consumers appears to be as strong as ever. The 2016 report shows that the release of once-locked data to home search sites and the need for an expert to guide this major financial transaction are not mutually exclusive. With nearly 90 percent of all respondents reporting that they worked with a real estate agent to buy or sell a home, the challenge for agents in the future won't be convincing clients of their value but navigating the market's ebb and flow and providing a seamless process worth bragging about. Here are some of the report's main takeaways. Buyer characteristics: First-timers and single women make a comeback The millennial generation was hit particularly hard b...
- Today the National Association of Realtors released its 2016 Profile of Homebuyers and Sellers, a 144-page report detailing the characteristics and demands of today's real estate consumers.
- In 2016, 90 percent of buyers and sellers used an agent during the real estate transaction.
- Despite depressed levels of first-time buyers after the Great Recession, younger generations are back to making homeownership headway. Their future success will depend on affordable housing supply in coming years and income growth.
- The No. 1 quality consumers look for in an agent is honesty/integrity.