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REALTOR®: More Sellers Turn to REALTORS®

Friday, March 12, 2010

Today's market challenges are prompting more sellers to work with a REALTOR® more than ever before. According to the National Association of Realtors®2009 Profile of Home Buyers and Sellers, "for-sale-by-owner" transactions dropped to a record low 11 percent. In almost half of those sales, the owners sold their home to someone they already knew.

Navigating the increasingly complex real estate transaction is much easier when sellers have professional help. According to Jeff Bell, president of the Silicon Valley Association of REALTORS®, the decline in unrepresented sellers indicates a growing awareness of how complicated the current market is.

"More than anyone, sellers understand how tough this market has been over the past few years," Bell said. "The drop in for-sale-by-owner transactions illustrates the value consumers place on REALTORS® as the first, best source for real estate information and insights – they know that REALTORS®®can help them reach their real estate goals."

Today's sellers must compete not only with their fellow homeowners who are selling, but also with the increased inventory of distressed properties offered in short sales or foreclosures. In addition, unrepresented sellers face myriad marketing disadvantages. The Home Buyer and Seller Profile revealed more than half of sellers without professional assistance didn't actively promote their homes to potential buyers. Those that did relied primarily on methods with limited exposure, including yard signs, word-of-mouth and newspaper ads.

"Most of today's buyers are online – nearly nine out of 10 recent buyers used the Internet in their home search – and unrepresented sellers have no access to major online marketing avenues such as REALTOR®.com and other Web sites with large pools of listings to which buyers are attracted," Bell explained. "Although there are sites that cater to unrepresented sellers, their total listings are in the tens of thousands in contrast with more than four million homes showcased on REALTOR®.com."

Professional experience and insights also pay off. In 2009, a typical property without professional assistance sold for $172,000 compared with $215,000 for the typical agent-assisted property. Sellers are more likely to generate competitive bids by working with a professional, according to Bell.

Bell also noted all real estate licensees are not the same. "Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. They proudly display the REALTOR® "®" logo on the business card or other marketing and sales literature," Bell explained. "REALTORS® are committed to treat all parties to a transaction honestly. They subscribe to a strict Code of Ethicsand are expected to maintain a higher level of knowledge of the process of buying and selling real estate."

An independent survey reports over 80 percent of home buyers would use the same REALTOR® again. "REALTORS®®have specific knowledge of local markets and know what matters to buyers in your area," Bell said. "REALTORS®®sell hundreds, if not thousands, of homes over the course of their careers, compared to the average person who may only move a handful of times during their lifetime. They have the experience homeowners need to sell their home."

To find a REALTOR® in your area, visit www.silvar.org.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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