What Are Home Buyers and Sellers Thinking?

Written by Miranda Hinchman 01/28/09

1. What is the top reason buyers state for purchasing a home?

34% Desire to own a home
11% Relocating due to job
11% Need a larger home

2. What do buyers most look for in seeking a neighborhood?

62% Quality (upkeep and appearance)
Also important was price and proximity to work.

3. What do buyers most often say is the benefit in using a real estate agent?

60% Guidance on the home buying experience *Cited by 79% of first time home buyers
Also noted, pointing out features of the home the buyers overlooked, negotiating a more favorable deal for the buyer, and improving their knowledge of search areas.

4. What is the biggest compromise buyers make when buying a home?

20% Price
15% Home condition
14% Distance from work

5. Do sellers really use an inducement or incentive to attract buyers?

58% offer an incentive or added benefit for buyers to purchase their home
18% Paying a portion of closing costs or prepaids (taxes and insurance)
15% Home Warranty
4% Money for updates, repairs and remodeling
17% of sellers on the market a week or less use incentives/inducements
56% of sellers on the market 17 week a or less use incentives/inducements

6. What is the first thing buyers do when they decide to buy a home?

33% Look online at homes
17% Contact a real estate agent
12% Researching the home buying process online

7. What do buyers consider most useful on a real state website?

86% Photos
80% Information on properties for sale
86% Virtual tours
Buyers found open house information and recently sold homes least valuable

8. Why do sellers usually sell?

22% Due to job or relocation
17% Outgrew current home