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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

QUIZ: UNDERSTANDING TODAY'S HOME BUYERS AND SELLERS

 How well do you know buyers and sellers? The 2009 Profile of Home Buyers and Sellers, published by the NATIONAL ASSOCIATION OF REALTORS®, sheds some light on what customers look for in the home buying and selling process. More than 9,000 responses from consumers who recently purchased or sold a home were collected for the NAR study. Take this quiz to see if you're in tune with today's customers.

1.What service did sellers most often say they want from their real estate agent?
Staging
Pricing the home competitively
Helping with paperwork and inspections
Helping fix up the property for sale


2.What service do buyers most often say they want from a real estate agent?
Narrowing buyer's search area
Finding financing options
Negotiating a better price
Finding the right home to purchase


3.The typical home buyer searched how long before purchasing a home?
2 weeks
8 weeks
12 weeks
20 weeks


4.Out of the following, what was the most common incentive that sellers offered in the sale of the home?
Home warranty policies
Closing cost assistance
Flat screen television
Furniture


5.What feature on real estate Web sites do customers most frequently say they find the most useful?
Neighborhood information
Virtual tours
Photos of the property
Interactive maps


6.What's the first step buyers often take during the home-buying process?
Search online for properties for sale
Talk to a real estate agent
Visit open houses
Contact a bank or mortgage lender


7.Of buyers who considered purchasing a foreclosed home, what was the most common reason they gave for ultimately not purchasing a foreclosure?
The home was in poor condition
Could not find the right home
The process was too difficult and complex
Financing options were not attractive


8.What environmentally friendly features did buyers most often say is "very important" when looking for a home?
Energy conservation landscaping
Energy-efficient appliances
Heating and cooling costs
Energy-efficient lighting


9.What age range represents the largest segment of home buyers?
25 to 34
35 to 44
45 to 54
55 to 64


10.What is the most frequently reported reason for selling a home?
To purchase something larger
To downsize
Job relocation
Change in family situation


11.What was the most common factor that influenced buyers in selecting a certain area to live?
Quality of neighborhood
Proximity to work
Affordability
Convenience to schools