SAN FRANCISCO, April 22, 2019 /PRNewswire-PRWeb/ -- In the first quarter of 2019, 58 percent of top real estate professionals across the U.S. characterized their local housing market as a "seller's market," however 55 percent projected local inventory to rise, making it particularly important for homeowners to set the right asking price, according to findings from HomeLight's Top Agent InsightsTM survey for Q1 2019.
The survey polled more than 900 top-performing real estate agents in the United States to gain the collective expertise of the industry's leading professionals. Agents were selected to participate in the survey based on the same performance data HomeLight uses to identify top real estate agents across the country for hundreds of thousands of buyers and sellers. HomeLight's proprietary algorithm considers a number of metrics to determine which agents bring in the most money for their clients, which agents sell homes the fastest and which agents have the most relevant experience for a particular client's needs.
"Top agents are the ones who are out there every day working with clients first-hand to navigate the challenges of buying and selling a home to deliver optimal outcomes," said HomeLight COO Sumant Sridharan. "Our data has shown that these agents have consistently been able to outperform the average based on their local neighborhood knowledge and marketing expertise."
The Top Agent Insights survey spans a wide range of subject matter, with 30 multiple choice and open-ended questions about the housing market and best tips and practices for selling homes. HomeLight plans to release a version of the Top Agent Insights survey on a quarterly basis to share insights into seasonal and recurring trends in the market.
"Most respondents think we are still in a 'seller's market,' but several of our top agents emphasized the importance of setting prices at an achievable level," said Sridharan. "With the majority of respondents expecting inventory to climb, buyers may be turned off immediately by an unreasonable price, resulting in those homes being seen by fewer potential buyers."
Other key findings from the survey shed light on what works to sell homes right now and where the 2019 real estate market is headed:
-49 percent of top agents believe that home values in their market will level out over the next six months, while 45 percent say values will rise. Less than 6 percent say values will decline.
-Over 90 percent of agents believe staging your house matters, whether to increase sale price or attract buyers to a home.
-Over 82 percent of agents say that staged homes sell faster. Most agents say a staged home sells 6-10 percent faster than an unstaged home.
-10 percent of real estate settlements in Q1 were delayed. Issues arising from the home inspection were the most common cause for delay at 12 percent.
-According to top agents, deep cleaning and decluttering can add, on average, a combined $4,000+ to the value of a home at resale. Larger projects, such as bathroom and kitchen upgrades, are riskier, with an average ROI that's closer to breaking even.
-The most recommended home staging paint swatch from top agents is Agreeable Gray by Sherwin-Williams, which received a landslide 137 votes from survey participants, approximately 15 percent of total respondents.
For additional findings, download the Top Agent Insights Report featuring a summary of the results.
About HomeLight
HomeLight empowers people to make smarter decisions when buying or selling a home. Through analyzing public and proprietary data on millions of transactions, HomeLight connects home buyers and sellers with the top local real estate agents who are likely to get them the best offer on their properties. HomeLight's complementary Simple Sale™ marketplace, with over 100 pre-vetted iBuyers, lets home sellers and agents compare and request instant offers for homes. Simple Sale also gives agents a tool to refer clients to instant buyers, skipping the traditional listing process while earning the industry-leading commission on the sale.
Since launching in 2010, HomeLight has connected thousands of clients with top local real estate agents, investors and online resources. With offices in San Francisco, Seattle and Phoenix, HomeLight conducts business nationwide. HomeLight is backed by Zeev Ventures, Menlo Ventures, SGVC, Citi Ventures, Bullpen Capital, Crosslink Capital, Montage Ventures, GV, Innovation Endeavors and more. For more information, visit https://www.homelight.com.
SOURCE HomeLight
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