Now that the National Association of Realtors is tracking profiles of homebuyers and sellers annually, the growth of such uses as the Internet and buyer's agents isn't as dramatic as in years past, but the newest survey still offers plenty of eyebrow-raising interest.

Hot off the press, and including input from buyers and sellers who transacted as late as July 2004, the "2004 National Association of Realtors Profile of Home Buyers And Sellers" offers plenty of fresh insights into the industry's mercurial consumers.

Who's buying homes? Who's selling homes? How do they behave? What are they spending? What are their expectations of the buying/selling experience? These are among the fascinating questions answered by the survey.

Homebuyers

According to survey results, 40 percent of homebuyers were purchasing for the first time, with nearly 24 percent identifying themselves as African-American, Hispanic/Latino, Asian/Pacific Islander, or other. The first-timers searched nine weeks, saw nine homes, while the repeat buyer searched seven weeks and walked through ten homes.

The median age of all buyers was 39 years, with a median household income of $67,100. (Financial information was collected for consumers who transacted in 2003.)

One in five buyers purchased a new home, but what should make builders sit up and take notice even more is that more than half of homebuyers had no children residing at home.

Over half of buyers (53 percent) used the Internet frequently during their search, and 90 percent reported using a real estate agent. Interestingly, Internet searchers were more likely to use a real estate agent than those who did not use the Internet to find a home. Ultimately, 38 percent of homebuyers first found out about the home they purchased through an agent.

Seventy-seven percent of buyers used an agent to buy their homes, with 44 percent using agents referred from friends, relatives, or neighbors. Eighty-four percent were happy enough to recommend their agents to others.

Home Sellers

The typical seller owned their home for six years before selling, and 55 percent purchased a bigger home than the one they sold this year. Eighty-two percent sold a detached single-family home, and 83 percent used an agent, with 80 percent reporting that the agent performed the tasks related to the sale of the home.

Trust ran high on the front end with most sellers (73 percent) contacting only one agent before listing their home. Thirty-eight percent used a referral from a friend, neighbor or relative, and 54 percent of sellers chose their agent based on reputation as the most important factor.

Sellers were not as satisfied with their agents as buyers were. Only 63 percent reported that they would use the same agent again or recommend the agent to a friend.

Published: November 11, 2004

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.