Home Selling and Real Estate Professionals
• Seventy percent of recent sellers contacted only one agent before finding the right agent they worked with to sell their home; in Florida, that figure was 74 percent.
• Ninety-one percent of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home. In Florida, it was 88 percent.
• Agents receive their compensation predominantly from sellers at 76 percent and at 83 percent in Florida.
• The typical seller has recommended their agent once since selling their home. Thirty-two percent of sellers recommended their agent three or more times since selling their home. In Florida, 74 percent recommended their real estate agent once since selling.
•Eighty-four percent said that they would definitely (67 percent) or probably (17 percent) recommend their agent for future services. In Florida, 76 percent said definitely and 11 percent said probably.
For-Sale-by-Owner (FSBO) Sellers
• Only eight percent (down from nine percent) of recent home sales were FSBO sales. This is the lowest share recorded since this report started in 1981. In Florida, this share was 10 percent.
• The median age for FSBO sellers is 56 years. Seventy-four percent of FSBO sales were by married couples that have a median income of $84,000. In Florida, FSBO sellers are 65 years old, 77 percent are married couples, and have an income of $82,500.
• FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $210,000 last year (up from $208,700 the year prior), yet lower than the median of all homes at $245,000. In Florida, the median FSBO selling price was $200,000.
• FSBO homes sold more quickly on the market than agent-assisted homes. All FSBO homes typically sold in less than two weeks—often because homes are sold to someone the seller knows; in Florida, FSBO homes sold in five weeks.
2015 Profile of Home Buyers and Sellers Florida Report
Home Sellers and Their Selling Experience
• The typical home seller was 54 years old, with a median household income of $104,100; in Florida the median age was 62 years with a median income of $89,200.
• For all sellers, the most commonly cited reason for selling their home was that it was too small (16 percent), followed by a job relocation (14 percent), and the desire to move closer to friends and family (13 percent). In Florida, the reasons were moving due to retirement (17 percent), the desire to move closer to friends and family (14 percent), and job relocation (12 percent).
• Sellers typically lived in their home for nine years before selling, declining from 10 years in last year’s report. In Florida, sellers sold after 11 years.
• Eighty-nine percent of home sellers worked with a real estate agent to sell their home and 87 percent in Florida.
• For recently sold homes, the final sales price was a median 98 percent of the final listing price and in Florida it was 97 percent.
• Recently sold homes were on the market for a median of four weeks and six weeks in Florida.
• Thirty-seven percent of all sellers offered incentives to attract buyers; this was 32 percent in Florida.
• This year, home sellers cited that they sold their homes for a median of $40,000 more than they purchased it. In Florida, the median was $48,000.
• Sixty-one percent of sellers were very satisfied with the selling process and 61 percent in Florida were very satisfied.