Day in and day out in your business, you hear the same thing – the real estate industry is built on connections. While this is true for finding success within the business side of the industry, it applies to every touch point from the beginning to the end of a transaction. No matter how you became connected with a client, you had to then build a connection as their REALTOR and from there, help them find a connection to a home. While one buyer may find that connection in a home that offers them a high return on their investment, another buyer may find the connection through a more emotional characteristic. It is your job to know what your buyer wants in order to find them their dream home, and knowing what the majority of buyers are looking for is a good place to start.
Luxurious Details: In an ideal world, everyone would be able to find a home with all the modern luxuries and amenities within their price range. Unfortunately, it is your job to be realistic with your buyers to help them find the luxurious features they can afford within their price range. According to the National Association of REALTORS Home Features Survey, the top three luxuries buyers sought in a home were Central Air Conditioning, an updated kitchen, and a finished basement or in-law suite.
Cosmetic: It’s no surprise that when you walk into a home with potential buyers, they see the cosmetic characteristics like a fresh coat of paint and updated flooring. While cosmetic features are the easiest to upgrade, it’s understandable that these are the things buyers want to see. Of those surveyed, 20% said granite counter-tops were important, and 17% said they wanted to see stainless steel appliances. The most important things buyers wanted to see were updated appliances, and an eat-in kitchen.
Practicality: We have all found features in a home that, while may be cosmetically appealing, just aren’t practical! You’re buyer’s don’t want their new home to be a make-work project, and are looking for their new home to not only be a roof over their head, but have the modern conveniences we come to expect. Some of the luxuries buyers want include a home with a laundry room, a home with a garage, a home with a fireplace, and a home with a basement.
While these are just a few of the things buyers are looking for, it’s important to remember all buyers are different and you need to consider their wants and needs when helping them find their dream home. Age is a big factor in differentiating the wish list of buyers – where young buyers are concerned with hardwood floors, open concept plans, and energy efficiency, baby boomers are more concerned with things like having a private master bath, and whether or not there is a home office, or the potential to create one.
Want to help your buyers easily separate one home from the next to find a place they can happily call home? Encourage them to use the House Hunting Comparison Worksheet from the RE/MAX Ultimate Home Buyer’s Guide!