Buyer Inquiries on the Rise
This year, nearly six in 10 (59 percent) respondents report an uptick in buyer inquiries compared to this time last year. This is a significant increase from only 44 percent reporting increases in 2011, and 43 percent in 2010. At the same time, only 15 percent say they are getting fewer inquiries than a year ago, down from nearly three in 10 (29 percent) for the prior two years.
Fewer Buyer Challenges with Financing and Selling Existing Homes
REBAC members identified the top issues currently preventing buyers in their local market from completing a purchase. While difficulties obtaining financing were cited as the leading challenge among buyers in 2010 (61 percent) and 2011 (65 percent), in 2012, the percentage noting this challenge dipped to 49 percent. Problems selling their current homes, similarly, declined in 2012 to 43 percent, down from 59 percent in 2011 and 57 percent in 2010.
Top Three Issues Preventing Buyers from Completing Purchases
Based on the statistics discussed above, it appears that business for REBAC members is looking up. Now is a great time for agents to join REBAC, earn the ABR® designation, and take advantage of the valuable, business-building resources that are available to them with their membership.
Marc Gould is the executive director of The Real Estate Buyer’s Agent Council (REBAC). A wholly-owned subsidiary of the National Association of REALTORS® (NAR), The Real Estate Buyer’s Agent Council is the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer. With more than 30,000 active members, REBAC awards the Accredited Buyer’s Representative (ABR®) designation to REALTORS® who work directly with buyer-clients.
To learn more, visit www.REBAC.net.