From homebuyers’ behavior to competitor analysis, and everything in between, statistics are critical as they help you understand where you stand in relation to your peers and prospects. They allow you to ensure that your website for a realtor is fine-tuned to the demands and that your strategies are based upon real-life situations.
As a real estate agent seeking to differentiate themselves in the competitive market, it is essential to keep up with the latest trends and statistics. In this article, we will highlight the most significant statistics to help you make informed decisions.
According to the National Association of Realtors (NAR), 50% of homebuyers found their home online in 2019. 28% used realtors to find their homes. These statistics show you just how essential a website for realtor is because it allows you to list properties online and tap into the market share.
Another statistic by Redfin revealed that homebuyers now spend less time searching for homes than before. On average, a buyer spends less than three days to find their dream property. This is thanks to the internet and its ability to provide vast options within a few clicks.
The United States Census Bureau reports that 78.9% of people 65 years or older own their homes. But only 37.5% of those under 35 years old had homes. So basically, you should be targeting millennials because they are the ones buying most houses today.
82% of buyers from all demographics said they prefer buying detached single-family homes compared to other options. In fact, 88% of people aged between 39 and 53 said they prefer detached homes over everything else.
There are more than 2 million realtors in the US alone, according to HomeLight. That’s why you need a quality realtor website, and well-thought-out SEO plans to stand out in the competitive market.
According to NAR, more than 70% of these realtors use social platforms like Facebook for their work. They rely on Facebook for their marketing needs. This makes perfect sense considering the platform has over 2.4 billion users across the globe. 58% of the research participants said they used LinkedIn, while 51% had their realtor website.
NAR reports that an average real estate agent in 2019 had 8 years of experience, a 2-year drop from 2018.
Again, 67% of real estate agents are women, according to NAR’s 2019 statistics. The typical real estate agent today is a 54-year-old white woman graduate, the report added.
Housing market prices
CNBC reports that the sales of existing properties will drop 1.8% from 2019. This might seem negligible, but could be a huge problem for buyers and sellers alike. Because of the rising demand for homes and less supply, the market is bound to encounter issues. Young buyers or those doing it for the first time will have the most challenging time as they strive to find the right first-time housing.
Staying on top of statistics is one of the best ways to ensure you are always ahead of the curve. And with these eye-opening stats, you should be headed in the right direction.