Coldwell Banker just surveyed over 600 of its real estate professionals in the US, and the results shed some surprising insight on the motivations of buyers and sellers.
When it comes to life events motivating potential purchasers, having a family trumps all, with 70 per cent of real estate professionals say a new baby or growing family is the “most common,” or a “very common” reason buyers search for a new home.
Other major life events include relocation for job reasons (69 per cent), marriage (59 per cent), and divorce (48 per cent).
Buyers’ preferences are also going back to the basics, with value placed on new or updated kitchens, bathrooms, and open floor plans.
In fact, 33 per cent of agents said a new or updated kitchen is the most important feature to homebuyers. No wonder we’re seeing so many gorgeous kitchens in new developments…
The survey also notes that 51 per cent of agents said sellers are more willing to price their homes more competitively than before, and 45 per cent said sellers are more willing to change the appearance of their homes to entice buyers than they were one year ago.
Interested in more stats? Check out the full rundown of the survey over here.