In a monthly survey of REALTORS®, the survey asks buyer’s agents about the characteristics of their most recent sale for the month. The survey asks, “Was there a contingency?”
According to a survey of REALTORS® who responded to the January 2018 REALTORS® Confidence Index Survey, 76 percent of buyer’s agents who closed a sale in January 2018 reported that the closed sale had a buyer contingency.
Home inspection was the most common contingency, reported by 58 percent of buyer’s agents who reported a buyer contingency. Getting the correct appraisal and obtaining financing were the next most common buyer contingencies, which were reported by nearly four in ten of buyers’ agents who closed a sale.
Buyers’ contingencies are a safeguard for buyers, and as the data shows, most contracts that closed do have a buyer contingency. So as a buyer’s agent assisting a buyer nail a home in this seller’s market, don’t skip out on including a contingency that safeguards the buyer’s interest. You won’t be the odd man out.
 Based on the respondent’s most recent sale for the month. These most recent sales can be deemed to be a random sample of all sales.
Source: NAR Economist Outlook