6 Fast Facts About Real Estate You Might Find Interesting

Today I’ll pull back the curtain a bit on the real estate industry and share some interesting statistics about it.

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Here are six statistics about the real estate business I think you might find interesting:

1. 93% of all homes sold nationwide are sold by only 7% of the agents. The reason for this is many “agents” obtain their real estate license not to actively work in the business, but rather so they can make a few extra dollars in the event that a friend or family member needs to buy or sell a home somewhere down the line.

2. 60% of your home’s marketing plan is determined by pricing your home correctly.

3. Real estate commissions range from 4% to 10% of the sale price. A 10% commission typically happens with large commercial acquisitions, while a 4% commission is usually a discount rate agents offer to sellers.

A 10% commission typically happens with large commercial acquisitions, while a 4% commission is usually a discount rate agents offer to sellers.

4. The average transaction, from inception to closing, takes a minimum of six weeks.

5. The average agent sells 2.3 homes per year.

6. 87% of all licensees can’t afford the $200 reinstatement fee. 

If you’d like to learn some more interesting real estate statistics, you have any questions about our market, or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.

Forge Your Path to Financial Independence Through Real Estate

Do you want to become financially independent? If so, becoming a real estate investor may be the right next step in your life.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

Financial independence is an economic indicator suggesting that someone is no longer dependent on income from a job requiring them to trade their time for money.

Financially independent individuals generally draw on passive income sources, and today I’d like to highlight how you can achieve this status for yourself by investing in real estate. After all, financial independence is, in essence, financial freedom. It allows you to spend time doing the things you enjoy.

Financial independence is, in essence, financial freedom.

Though real estate is cyclical, the overall trend over the last 50 years has been one of considerable appreciation. In fact, in our current real estate climate, investing in just half a dozen properties could bring you into the realm of financial independence.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How the Government Shutdown Affects Real Estate

The government shutdown has ended for now, but may resume in the near future. Here’s how it’s impacted real estate so far.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

There’s no question about it: The recent government shutdown will have a negative effect on the real estate industry. What changes are occurring now and what could happen in the future? Today we’ll be taking a look.

Many lenders access information from either the IRS or the Social Security Administration in order to verify applicants’ income. This process is currently strained because these government entities are short-staffed and the few remaining workers are still having to handle these services.

Consumer confidence is low.

At the same time, people are still seeking FHA and VA loans. Though these processes are still continuing as normal, staff is also reduced. Because of this, a backlog is building and their services are becoming delayed. 

On top of all this, consumer confidence is low: 800,000 people weren’t receiving paychecks, there’s uncertainty about whether the shutdown will resume in the near future, and much more. We can’t necessarily measure the impact of low consumer confidence, but we’re sure the effects will show up in the long term. There’s also a worry that interest rates may begin to fluctuate due to the shutdown. 

If you have any questions or need further information, feel free to reach out to me. I look forward to hearing from you soon.