Real Estate Realities:
The Top 5 Ways Buyers
Find Homes to Purchase
home equity articles and tips
Owning a home is a great way to build long-term wealth. While real estate should be considered a long-term investment, there may come a time when you need to sell your property. In these situations, it is important to consider how buyers shop for properties. Here are five common ways that buyers shop for a new home when they are in the market.
This probably doesn't surprise you, but one of the most common ways that someone will shop for real estate today is through the Internet. In fact, more than 51% of all buyers find the home that they end up living in online. Because of this, real estate agents use online tools to their fullest potential in order to attract buyers. They do this by having strong online and social media profiles with quality images and content.
Real Estate Agent
When shopping for a new home, 30% of buyers don't actually find the home that they end up purchasing until they are introduced to it by a real estate agent as their primary contact and way to purchase the property. This is because they have special access to a variety of information to help buyers find the right home. After all, they may be helping others to sell their homes as well, and so they are more in the know of what is available on the market that could match a buyer's wants and needs.
A Referral by a Friend, Relative or Neighbor
Today, around 6% of people find their home via “word of mouth” referrals from someone that they know. When people see homes in their neighborhood that are for sale, they might let someone know about it if they know that that person could potentially be in the market for a new home.
Yard & Open House Signs
While they are considered a more traditional form of advertisement, yard signs still play a very important role in the real estate market today. In fact, as many as 7% of all buyers today end up finding their home because they saw such a sign.
Home Builder or Agent
For those that are looking for a newly constructed home, one of the primary ways that they will learn about potential purchases is directly through a home builder. Home builders located all over the country are able to form a network of potential buyers that are interested in new construction properties. These builders will frequently send out advertisements directly to their clientele and entice them by offering amenities and discounts if they buy directly through the builder's agents. In fact, this is how 5% of people find their homes.
Whether you're looking to buy a home or are new working in the real estate field, knowing what gets people to find their homes is important. Hopefully, the above information has helped you in understand that.
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