From 2005 NAR Economic Research – a national survey of 100,000 home buyers and sellers.

                        BUYERS                                                        SELLERS

Method Used to Find Real Estate Agent           Method Used to Find Real Estate Agent

Referred by family or friend                   44%     Referred by family or friend                   43%

Worked with before                              11%     Worked with before                             28%

Yard sign with brochure box                   7%     Personal contact by Realtor                   5%

Open house                                          7%     Open house                                         4%

Internet site                                          6%     For Sale sign                                        4%

Walked/called into office                        4%     Referred by another Realtor                    3%

Referred by employer/relocation co.        4%     Referred by employer/relocation co.        3%

Referred by another Realtor                   3%      Direct mail                                            3%

Personal contact by Realtor                   3%     Walked into/called office                        2%

Newspaper ad                                      2%      Newspaper/home magazine                   2%

Internet site                                          2%

Most Important Factor in Choosing                   Most Important Factor in Choosing

Reputation of Realtor                           41%     Reputation of Realtor                            57%

Knowledge of neighborhood                  24%     Knowledge of neighborhood                  17%

Realtor’s firm                                        7%     Realtor’s firm                                        6%

Professional designations                      4%     Professional designations                       3%

Other factors                                       24%    Other factors                                        17%

Number of Realtors Interviewed                       Number of Realtors Interviewed

One                                                  64%     One                                                     74%

Two                                                  20%     Two                                                     17%

Three or more                                    10%     Three or more                                        7%

Where Buyer First Learned About Home          Number of Weeks Home Was on Market

Realtor                                              36%     Less than 1 week                                   9%

Internet (up 17% from 2004)                29%      1 – 2 weeks                                         28%

Yard sign                                          15%      3 – 4 weeks                                         13%

Builder                                               6%      Over 4 weeks                                       50%

Friend/neighbor/relative                        6%      Median = 4 weeks

Newspaper                                          5%

Knew seller                                         2%

Home book or magazine                      1%

Would Use or Recommend Realtor Again         FSBO Success Rates

Buyers                                               66%     Used a Realtor                                     82%

Sellers                                               63%     Sold themselves                                    14%

                                                                     Sold to home buying company                 1%

                                                                     Other                                                     3%

DISCLAIMER

John P. Hale is owner and Designated Broker of Touchstone Residential Realty, Inc., 2485 West Tom Watson Drive, Tucson, Arizona 85745.  He has been a residential real estate agent in the greater Tucson Metropolitan area since 2000.  In addition to being licensed as a Broker rather than a salesperson, John holds the following designations awarded by the National Association of REALTORS^®:  ABR – Accredited Buyer Representative, ASR – Accredited Seller Representative, CRS – Certified Residential Specialist, and GRI – Graduate Realtor Institute.  And, John is among the very few that have been named, MRE – Master of Real Estate by the Arizona Association of Real Estate.

Please note that this article was written by him to reflect the author’s opinion of good practice at the time of its’ writing for the general benefit of those considering sale or purchase of residential real estate, it is not intended as definitive legal advice and you should not act upon it as such without seeking independent legal counsel.  Frequent changes in the law and standards of practice may cause this information to become outdated and no longer applicable or even incorrect.