Understanding who today’s buyers and sellers are, what motivates them to move, and what features buyers are looking for in a home will help you expand your marketing reach, provide valuable insights to your clients, and focus on the right real estate images to Helping you your listing resonate with your target market.
Who are today’s potential buyers and sellers?
According to Zillow 2023 Consumer Housing Trends data, today’s typical buyer is a young adult in their 30s or 40s who is married or partnered, has a college education, owns at least one pet, and is likely to live in the South (34 %) or the West (29%).
Similar to buyers, the typical age of sellers in the U.S. today is 45; partnered, married or previously married; has some college degree; and most likely to sell in the South (40%). In mid-2023, the typical seller’s home is a single-family detached home with 3 bedrooms, 2.5 bathrooms, and between 2,000 and 3,000 square feet.
Why do buyers and sellers want to move?
One of the first questions you may want to ask your potential client during a consultation Number list demo This is why they want to buy or sell a new home.
In the latest Zillow Consumer Housing Trends Report, about 82% of sellers said at least one life event influenced their decision to move and sell their home. More than half (56%) cited a change in home or family size, 41% cited remote work, and 37% cited a new job or job move as a trigger for them to move. For buyers, affordability and job relocation are top motivators for moving.
What are today’s home buyers looking for in real estate?
Home office or flex space. One of the consequences of remote working is the continued desire for a home office or flexible space in the home. According to the Zillow Consumer Housing Trends Report, a majority of potential homeowners (64%) say having an extra space for a home office is “very or extremely important” in their search.
Energy saving features. Growing awareness of environmental issues and rising energy costs are helping to increase potential buyers’ requirements for energy-efficient features in homes.according to a Zillow researchHomes with energy-saving features, such as double-pane windows and solar panels, are not only more attractive to buyers but are likely to sell for more, sometimes even faster.
Technology in Home Search. According to Zillow’s trend data report, today’s buyers require digital tools that can facilitate remote viewing. A majority (72%) say a 3D tour gives them a better feel for their home space than a static photo.
Digital options such as remote viewing and 3D tours, e.g. Listing displayVirtual tours and interactive floor plans also please sellers. The Zillow report found that sellers are more likely to hire agents who include virtual tours and/or interactive floor plans as part of their services (78%).
Outdoor living space. The pandemic has sparked a national trend for outdoor kitchens, patios, decks and outdoor entertaining spaces. Agents can help highlight these coveted features by showing the entire property, including adjacent exterior landscaping, pool space and outdoor kitchen, through the lens of the enlarged listing image, with high-resolution photography and aerial photography provided by Listing Media Services function.
By checking in frequently and staying informed about your clients’ changing home dynamics and needs, you’ll be more likely to develop long-term client relationships, win more listings, and ultimately help them find a home when they feel motivated to move.
