What does a real estate agent do? Sellers think they’re less necessary than 2024 🤔
Although nearly two-thirds of home sellers (63%) believe real estate agents are inherently necessary to the sale process, that’s down 10 percentage points from 2024.
For homebuyers, sellers, and those in the real estate industry, 2024 was a tumultuous year.
Mortgage rates at times soared to over 7% and at other times dropped to around 6%, ending the year roughly where they started. At the same time, home prices held steady, even as the amount of available housing inventory finally began creeping back toward pre-COVID levels.
Meanwhile, real estate agents spent 2024 preparing for and adapting to the new reality of the industry following the landmark settlement in the National Association of Realtors (NAR) lawsuit. Listing agents are no longer allowed to advertise a set commission for buyer’s agents, and buyers are now responsible for negotiating their own agent’s compensation.
Combined with changes in the economy and high-profile advances in technology such as AI, many would-be home sellers are being forced to reconsider what they’re looking for from a real estate agent, how they expect agents to sell their home, and, perhaps most importantly, what commission rate they’re willing to pay.
That’s why Anytime Estimate surveyed 1,000 American homeowners who plan to sell their properties in the next 12 months, seeking answers to these critical issues as well as to learn more about their feelings and expectations about their upcoming home sale.
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