More than half of sellers in 2016 attempted to lower their listing agent’s commission.
According to a recent survey from SurveyGizmo and Redfin, 57 percent of sellers tried to negotiate, an increase of 5 percent from June. And millennials are the generation most likely asking for a break. Nearly two-thirds report they asked their agent for a lower commission rate. Fifty-eight percent of Generation X members and 39 percent of baby boomers so tried to negotiate.
For buyers, 49 percent reported receiving a refund, a contribution toward closing costs or something else worth at least $100. This is an increase of 3 percent from June.
The survey also found that political opinions continue to be a hot issue these days. Nearly half of respondents (42 percent) reported they would hesitate to buy in an area that had differing political views. Millennials (47 percent) were the highest generation with qualms.
Online statistics continue to increase in popularity. Ninety-five percent of sellers checked their home estimates online, while 72 percent of sellers said they checked the estimates of their home value, on sites like realtor.com®, at least once a week before they put their home on the market. Twenty-two percent checked daily, or close to. Not surprisingly, millennials were the most likely to check the most often, as 78 percent checked at least once a week, and 28 percent checked daily or close to.
Home estimates impacted buyers too, as 84 percent checked estimates online, and said it affected their buying plans.
However, Americans are more worried about the income gap, as well as affordable housing in the country. Forty-two percent reported that the income gap is their biggest concern, while 41 percent said they are concerned about affordable housing. Thirty-five percent are worried about the federal budget deficit.