Last year I was a typical home buyer. I had a list of criteria. I went to online and searched for properties. I looked at sites with photos and home listings in the communities I was interested in. Then I contacted my Realtor and together we visited several of the homes I found online and fairly quickly, an offer was made, and accepted.
The National Association of Realtors (NAR) recently released their 2017 Report on “Real Estate in a Digital Age.” The findings are not surprising, as each of us, more than likely carries a smartphone. You might be surprised, however, that the average cell phone users touch (type, tap, swipe) their phone 2,617 times per day, according to research firm Dscout. They also found that average users spend 145 minutes a day on their phones.
According to the NAR, the typical home buyer is 44 years old, married without children living at home and has a median income of $88,500. Millennials (19-37 year olds) make up the largest group of first time home buyers at 66%, followed by Generation X (38-52 year olds) at 26%.
Roughly 77% of Americans own a smartphone*, so it’s no surprise that 72% of home buyers used a mobile device or tablet to search for a home. 99% of Millennials searched for a new home online, compared to 89% of Boomers (53-71 year olds).
Buying a home can be a complicated process and it may be the biggest financial decision a person makes, so using a Realtor only makes sense, which is why 92% of buyers used a Realtor in their home search. Realtors know the ins and outs and have the knowledge, expertise, and negotiating skills needed.
The most difficult Step in the home buying process? Finding the right property was ranked #1 among all generations, followed by paperwork and understanding the process. Even the simplest real estate transaction involves paperwork. A Realtor will handle the contracts, disclosures, reports, and other technical documents. When navigating a real estate purchase buyers need an experienced professional who can negotiate the best purchase terms on their behalf, and stay on top of the process.
My Realtor was there every step of the way, making sure all the nitty gritty details were taken care of. That left me plenty of time to dream about the where to put that brand new sofa in my brand new home!
Pamela Sclafani is the Marketing Manager for Coldwell Banker Upton Massamont. She lives in the Pioneer Valley and enjoys everything it has to offer, gorgeous scenery, hills and mountains for hiking, lakes for paddle boarding, the change of seasons, and the close proximity to Boston and New York.
*According to a Pew Research Center survey conducted in November 2016.