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2012 Survey of California Home Sellers

2012 Survey of California Home Sellers. Methodology. Telephone surveys conducted in August/September of 600 randomly selected home sellers who sold in the past 6 months. (2011 study surveyed sellers who sold in the last 3 months.)

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2012 Survey of California Home Sellers

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  1. 2012 Survey of California Home Sellers

  2. Methodology • Telephone surveys conducted in August/September of 600 randomly selected home sellers who sold in the past 6 months. (2011 study surveyed sellers who sold in the last 3 months.) • Maximum sampling error: ±4.1 percent at two standard deviations (a 95% confidence level). (Subsets of the total sample will have a higher sampling error.)

  3. ABOUT THE SELLER

  4. The Typical Seller

  5. Majority of Sellers are Females

  6. Females Hold Majority Q: Your Gender

  7. Median Age: 37 Q: What is your age?

  8. Sellers Are Getting Younger Q: What is your age?

  9. Gen X and Y Dominate Seller Population Q: What is your age?

  10. Minorities are the Majority Q: How would you describe your ethnic background?

  11. Ethnic Background

  12. Most Sellers are Married Q:What was the marital status the head of your household at the time of the sale?

  13. Household Income Q: Which of the following categories best describes your total annual household income from all sources?

  14. Annual Household Income

  15. First-time Sellers on the Rise Q: Was this your first experience in selling a house?

  16. Affordability Problems is #1 Reason for Selling *Affordability problems include: couldn’t afford mortgage, moved to less expensive market, loss of household income, income not keeping up with expenses, monthly payment went up, new job paid less, needed to move to less expensive residence. Q: Why did you sell your home?

  17. Most Sellers Currently Rent Q: Do you own or rent your current home?

  18. Fewer Sellers Renting

  19. Majority of Sellers Moved Out of State Q. County in which home was located. In which county is your current residence located?

  20. More Sellers Moving out of State

  21. Sellers Not Optimistic About Future Home Prices Q: Do you think home prices in your neighborhood will go up, down, or stay flat?

  22. Sellers Optimism About Future Home Prices Over the Years Q: Do you think home prices in your neighborhood will go up?

  23. ABOUT THE HOME

  24. Average Home is 21 Years Old & 2,600+ Square Feet Q: What type of home was it?

  25. Average Type of Home over the years

  26. Average Sale Price is 6% Lower than the List Price Q: What was the initial listing price of your home? Selling price?

  27. Average Listing Price vs. Average Sale Price

  28. Percentage Difference of Average Sale Price vs. Listing Price Over the Years

  29. THE SELLING PROCESS

  30. Average Home Owner Considered Selling More than a Year Before Actually Doing So Q: How long did you consider selling before actually doing so?

  31. Average Months Owner Considered Selling Home in the Past

  32. Most Important Websites for Sellers • Q: What was the single most important web site you used in your home selling process?

  33. Most Important Websites for Sellers (Top 3)

  34. Nearly All Homes Were Listed on MLS Q: Was your home listed on a multiple listing service? If no, why not?

  35. Most Escrows Don’t Close on Time Q: Did your escrow close on time?

  36. Most Escrows Don’t Close on Time Due to Loan Problems Q: Why did your escrow not close on time?

  37. More than Half of Homes Fell Out of Escrow at Least 3 Times Q: How many times did your home fall out of escrow?

  38. 83% of Sellers Received at Least 2 Offers Q: How many offers did you receive from buyers?

  39. What Sellers Would Change About the Sale Q: If there was one thing you could change about your recent home sale, what would it be?

  40. SELLERS WORKING WITH AGENTS

  41. ¾ of Sellers Found Agent Online • Q. How did you find your real estate agent?

  42. ¾ of Sellers Interview at Least 3 Agents Q: How many agents did you interview prior to selecting the agent you used in your recent home selling process?

  43. Sellers Interview More Agents Q: How many agents did you interview prior to selecting the agent you used in your recent home selling process?

  44. Reason Seller Selected Agent • Q: What was the single most important reason for selecting the agent you used in your recent home sale?

  45. More than Half of Sellers Google their Agents Q: Did you Google your agent?

  46. More than ¾ of Seller Agents are REALTORS® • Q: Was your agent a REALTOR®?

  47. 7 out of 10 Gen Y Sellers Initially Listed their Home With Another Agent • Q: Did you initially list your home with an agent other than the one with whom you sold it?

  48. More Sellers Initially Listed Home With Another Agent • Q: Did you initially list your home with an agent other than the one with whom you sold it?

  49. 1/3 of Sellers Changed Agents Due to Home Taking Too Long to Sell • Q: Why did you start with one real estate agent and change to another?

  50. Response Time is Most Important in Agent Selection • Q: Please rate the following factors by their importance in your decision on selecting the agent you used for your home selling process on a scale from 1 to 5, where 5 is “Extremely important” and 1 is “Not at all important”.

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