The real estate market continues to evolve, with significant shifts in buyer and seller demographics, preferences, and behaviors. National Association of REALTORS® (NAR) provides valuable insights in the 2024 Profile of Home Buyers and Sellers, illuminating who is buying and selling homes, how they find properties, and the role real estate professionals play in these transactions. Below, we’ll explore these key findings while highlighting how Better Than Flat Fee listing services, such as Simply List, are making waves in Georgia-especially for FSBO (For Sale By Owner) sellers.
Home Buyer Trends in 2024
First-Time vs. Repeat Buyers
- First-time buyers: 24% of all home purchases
- Median age of first-time buyers: 28
- Median age of repeat buyers: 61
- Median household income of first-time buyers: $97,000
- Median household income of repeat buyers: $114,300
The typical home purchased was 1,900 square feet, built in 1994, and had three bedrooms and two bathrooms-indicative of a preference for mid-sized, established homes. Buyers who financed their purchase typically secured 74% of the home price through a mortgage.
How Buyers Found Their Home
- Internet: 51%
- Real estate agent: 29%
- Yard sign/open house sign: 4%
- Friend, relative, or neighbor: 8%
- Home builder or their agent: 5%
- Directly from sellers/knew the sellers: 4%
The Role of Real Estate Agents
Despite the abundance of online resources, real estate professionals remain a trusted resource:
- 88% of buyers purchased their home through a real estate agent or broker.
- 88% would use their agent again or recommend them to others.
Home Seller Insights in 2024
The typical seller in 2024 was 63 years old, had a median household income of $112,500, and had lived in their home for 10 years before selling.
Working with Agents
- 90% of sellers were assisted by a real estate agent.
- Sellers typically sold their homes for 100% of the listing price, though 21% reported reducing the asking price at least once.
- The median time on market was 3 weeks, highlighting relatively strong demand.
How Sellers Found Their Agent
- 38% of sellers found their agent via referral by friends or family.
- 28% of sellers used the agent they previously worked with to buy or sell a home.
- 72% of sellers said they would definitely use the same agent again.
For Sale By Owner (FSBO) Statistics
FSBO transactions accounted for 6% of home sales in 2024. While many FSBO sellers aim to save on commissions, data suggests FSBO properties often sell for less:
- FSBO median sale price: $380,000
- Agent-assisted median sale price: $435,000
Marketing Methods for FSBO Sellers
- Friends, relatives, or neighbors: 18%
- Yard sign: 12%
- Third-party aggregator: 10%
- Multiple Listing Service (MLS) website: 10%
- Open house: 5%
- Social networking websites: 3%
- For-sale-by-owner website: 3%
Flat Fee Listing Statistics in Georgia
An MLS listing service can help an owner-led sale reach buyers and agents. The article does not establish what proportion of FSBO sellers use paid MLS-listing services; no adoption percentage is claimed here.
Challenges Faced by FSBO Sellers
- Getting the price right: 17%
- Selling within a desired timeframe: 13%
- Understanding and completing paperwork: 10%
- Preparing or fixing up the home for sale: 9%
- Having enough time to manage all aspects: 5%
By partnering with a Better Than Flat Fee listing service, FSBO sellers can mitigate some of these challenges-particularly attracting buyers-while retaining control over pricing and negotiations.
Why Better Than Flat Fee Listing Services Like Simply List Matter in Georgia
- MLS Exposure
Better Than Flat Fee listings put homes on the MLS, the most widely used resource for agents and buyers in Georgia. - Simply List sale plans use a percentage of the sale price payable at closing: Without Help is 0.35%; With Help is 0.75%, or 1% when the buyer is unrepresented. The 1% replaces the 0.75% With Help fee. If the property does not sell, no Simply List commission is due. Optional purchases and disclosed cancellation charges are separate.
- Flexibility & Control
FSBO sellers maintain freedom to negotiate, schedule showings, and manage the sale. - Added Professional Touch
Many flat fee services include professional photography, marketing support, and other tools to enhance the listing.
Key Takeaways
- Buyers: First-time buyers face affordability challenges but still rely heavily on real estate agents for guidance.
- Sellers: The median seller age is 63, and sellers often manage to sell quickly-typically in just three weeks-often with the help of an agent.
- An MLS listing service can help an owner-led sale reach buyers and agents. The article does not establish what proportion of FSBO sellers use paid MLS-listing services; no adoption percentage is claimed here.
Looking Ahead
As more Georgia homeowners embrace Better Than Flat Fee MLS services like Simply List, the line between traditional agent-assisted sales and FSBO continues to blur. By combining MLS exposure with the autonomy of a FSBO approach, sellers can balance cost savings and comprehensive marketing-a winning strategy in a competitive real estate landscape.
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