Written by Louis Wilson on 07/10/2019
NAR Annual Report (2019)
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Finding the right home is the hardest part.
According to the National Association of REALTORS® (NAR), 56% of buyers said that simply finding the right home was the hardest part of the entire home buying process. This was consistent among all age groups but peaked for the youngest buyers. Beyond finding a home, buyers noted that understanding the process and paperwork were major pain points. Lastly, younger buyers noted that saving for a down payment was a major difficulty.
The NAR survey also asked buyers what they wanted from their real estate agents. 52% of recent buyers said that help in the home search process was the most important thing they wanted from a real estate agent. After the home search process, buyers wanted help negotiating terms and prices within the housing contract and help filling out all the paperwork.
Help With | All Buyers | 28 or Younger | 29 to 38 | 39 to 53 |
---|---|---|---|---|
Finding the right home | 52% | 51% | 48% | 49% |
Negotiating terms of sale | 14% | 16% | 16% | 14% |
Negotiating price | 11% | 8% | 12% | 12% |
Determining comparables | 6% | 6% | 7% | 6% |
Paperwork | 6% | 9% | 7% | 7% |
Other | 11% | 10% | 10% | 12% |