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March 19 2013
Running your clients around to viewings and open houses is part of the business, and no one complains when the homebuyer—at long last—finally finds their dream home and signs on the dotted line. It's expected that your clients will need to visit sometimes dozens of homes before settling on the right one, and there's not much that can be done to minimize that searching time. Or is there?
According to the National Association of REALTORS® 2013 Profile of Buyers' Home Feature Preferences has been released, and it includes some very interesting data on homebuyer interests, preferences and trends. For example, geography and demographics have the strongest impact on home buyer preferences. Between 2010 and 2012, buyers went for new homes. The average home purchased was 1,860 square feet, built in 1996, and typically featured three bedrooms and two bathrooms. More than half of the homes purchased were on a single level.
"Deciding where to live comes with a lot of options, but buyers quickly realize that some features are more important than others when it comes to choosing the right house for them," said NAR President Gary Thomas. "Buyers need to have a clear idea of what features are important to them and know where they are willing to compromise; in this respect, REALTORS® can bring buyers home. REALTORS® visit hundreds of homes with buyers each year, and have a unique understanding of what buyers value in their local markets."