REALTORS® are an essential piece of the housing market ecosystem. However, especially in the world post Burnett vs. NAR, many home sellers don’t realize the necessity of an agent when it comes to navigating the market.
For sellers that choose to make their own way in the market, it doesn’t often work in their favor. In fact, those who sold without a REALTOR® were 3x more likely to say they lost money on their home sale than those who sold with a REALTOR®.
Clever’s latest report surveyed 1,000 people who sold a home in 2022 and 2023 in order to analyze trends around home sales. The report found that home sellers who used an agent averaged $46,603 more in profit than those who didn’t use an agent. For those who didn’t use an agent, they were nearly 2x as likely to say they were not satisfied with the home-selling experience (42% vs. 23% for agent users).
Key highlights:
- 79% of Americans who sold a home in 2022 or 2023 used a real estate agent. Of the 21% who did not use an agent, most sold to a cash buyer or investor (20%), iBuyer (13%), or listed their home FSBO (13%).
- More than half of non-traditional home sellers (53%) say they wish they used a traditional real estate agent instead.
- About 53% of sellers who used a REALTOR® accepted an offer within one month of listing, compared to 39% of non-traditional sellers.
- Sellers who didn’t hire a REALTOR® were nearly 2x as likely to say they didn’t accept an offer for at least three months.
- 86% of recent home sellers regret some aspect of their home sale.
- More than half of home sellers (56%) say the experience was stressful, with 47% saying they cried at some point in the process.
- 35% of those who used an agent say their agent failed them.
- About 2 in 5 say their agent botched negotiations (38%) or pressured them to make decisions they weren’t comfortable with (40%).
- One-third of home sellers (32%) consider real estate investors untrustworthy, and 64% say they drive up housing prices. Yet, 86% of those who sold with an agent say they first considered or attempted selling to a cash buyer or investor.
For the full report, click here.
