At RELY REALTY, The Transaction is our Science

Building Real Relationships is our Art

 

We know that building a sustainable real estate business requires both art and science. At RELY REALTY, art and science work to enhance each other.

While the art side of the real estate is the most challenging, the science side of our business relies on information gained from real estate studies and statistics. Do you know the real estate industry at a local or national level? What are the buyers really looking for? How many homes a buyer view on average during the buying process? These are just a few of the questions that statistics can answer. For instance, according to studies pursued at national or international level:

 

  • Over 90% of homebuyers searching on the internet focus primarily on the main photo of the home and secondarily on the quantitative description of the property
  • On average, sellers receive 2 Euros in increased sale price for every euro they put into staging a home
  • The average homebuyer forms a firm “yes-no” opinion within 15 seconds of entering a house
  • On average, a buyer will spend just five minutes in a vacant home compared to 40 minutes in a furnished home
  • Over 77% of buyers find it “easier to visualize the property as their future home” when property is staged

 

  • Around 75% of sellers expect a response from their agent within 30 minutes; only 24% of agents meet their expectations
  • Around 85% of buyers expect a response from their agent within 1 hour; only 30% of agents meet their expectations
  • Homes listed by an agency sell on average for 15% more than listed by owner
  • Around 45% of the existing homes listed on the market apply a “just below” pricing strategy (where the thousands digit is either 4 or 9) compared to nearly 30% for the new constructions
  • Almost a third (29%) of Seller’s Agents believe the staging increased the value of the home 6-20%

 

  • In a growing market when prices are rising, there is a positive correlation between the price and time-on-the-market (TOM): the longer the investor waits the higher price he is likely to receive. Even when market is continuously declining, the impact of TOM on price is still positive, and the optimal selling strategy in such a declining market is to take the time to search as opposed to selling right away. However, a negative TOM effect only occurs in extremely rapidly declining markets
  • Around 45% of people selling homes without an agent end with a lower selling price

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