Realtor.com launched a survey to ask how sellers handled the past year, from overheated competition to the early stages of a buyer’s market. Here are three major highlights of that detailed report
- 95% of sellers sold their property for more than they paid for it. Baby Boomers (who likely held their property for longer) saw the greatest share of equity.
- 92% of sellers who sold in the past three months did accept concessions, reflecting the shift towards a more buyer-friendly market
- 87% of surveyed sellers used an agent. Millennials were the most likely to engage an agent (92%), while Baby Boomers were the least likely (62%).
That second statistic comes as no surprise. The majority of sellers are accepting concessions these days. They understand that’s what it takes to close the deal! When you prepare as a sellers in advance, and understand exactly what your property is worth, everyone can leave the negotiation table happy.