In your career as a real estate professional, you will work with many clients. It’s important to help them find what they want. Whether clients are first-time home buyers or more seasoned real estate veterans looking to trade up, a good real estate agent can help make the home buying process a positive experience.
Recently, the National Association of Home Builders released its findings from a survey that was aimed at determining key concerns of home buyers.
The study is a helpful tool for real estate agents because it illustrates what home buyers are looking for in homes and properties they are considering.
One key bit of data from the research shows that first time home buyers have very different concerns and needs than home buyers looking to trade up.
As a realtor with Big Block Realty, this information can help you depending on what your client’s current situation might be.
If you are a real estate agent working with a first time home buyer, you might want to consider the following:
First time home buyers named price as a key factor in the home buying process. If you are working with a first time home buyer, ask them to honestly consider what price range they can afford.
In doing this, you can help them find homes and properties that are within their budget and avoid looking at any properties that are too far-reaching for their price point.
We’ve all heard the saying “Location, location, location,” but this is especially important to first time home buyers. Some people are willing to make a longer commute but many want to live as close to their jobs as possible.
Take this into consideration when deciding which homes and properties to show a potential buyer. If the location isn’t right, there’s a good chance the house won’t be either.
According to the study, 38% of first time buyers ranked price as the most important factor while 38% cited location as the primary determinant.
Perhaps you are working with a client known as a trade up buyer. Here are some issues to keep in mind:
Home Design –
Trade up buyers, according to the NAHB research, are concerned about a home’s design. This is probably due to the fact that they have already lived in other homes and learned what they want or don’t want from a design stand-point.
Sometimes a home can have great bones and just need some updating, but if a buyer doesn’t love the key elements of a home, he or she probably never will.
As a real estate professional, it’s important that you help steer your clients in the right direction…toward homes and properties you know they will love!
Neighborhood Characteristics –
This is another area where trade up buyers seem to know exactly what they want. It’s probably due in part to the fact they have already lived in various neighborhoods and they know what does and doesn’t work for them.
Maybe they are trading up because of an addition to the family and are looking for a more family-friendly neighborhood.
Regardless, as a real estate professional, you can help them find the neighborhood and property that will meet their needs.
36% of trade up buyers responded that the design of the home was their prevailing concern while 28% cited the design and look of the neighborhood as most important.
Let us know if you have any questions, we are always here to help.
Here at Big Block Realty, we are California’s leading 100% commission real estate brokerage. As part of our team, you will keep your entire commission while still enjoying all the perks of working with an industry leader such as Big Block.
A career in real estate allows you to leverage your potential in a way that no other industry or field can. If you’d like to learn more about a career with Big Block Realty, we’d love to hear from you!
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The Big Block Realty Family
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