Real estate agents are not the only people working in the real estate industry. Finding the right house to buy is just the tip of the iceberg. There is a large array of real estate services that are offered in order to ensure that home sales go smoothly.
In a survey conducted by the National Association of Realtors (NAR), 35,000 homebuyers were asked about which real estate services they used the most.
The most frequently used home-buying service was home inspectors. 92 percent of the homebuyers surveyed used an inspector when purchasing their home. Home inspectors can look at everything from the overall condition of the home to targeted environmental concerns, such as the presence of mold, radon or lead paint.
91 percent of homebuyers financed their purchase with a mortgage. Mortgage lenders were the second most frequently used real estate service when buying a home. 90 percent of homebuyers bought homeowner’s insurance.
Use of a title company for title insurance ties with homeowner’s insurance as the third most popular real estate service. 85 percent of homebuyers used an appraiser, 70 percent used a termite-insect inspector, 69 percent purchased utility hook-ups, 50 percent purchased a home warranty, 57 percent purchased mortgage insurance, 50 percent used legal services, 48 percent hired a settlement attorney, 48 percent had an environmental inspection, 43 percent hired a land surveyor and 31 percent of homebuyers used a home improvement retailer.
Today’s homebuyers do their research when looking for real estate services. Most homebuyers used the Internet in their home search. The Internet is a valuable source of information. Real estate agents are another great source for information. 75 percent of all buyers bought their home through a real estate agent. Repeat buyers often rely on their experience with a service provider they used in a previous home purchase.