Zillow Report: Change Has Come To The House Buying Process

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
https://activerain.com/droplet/4Vkh

The mega real estate advertiser Zillow released a report announcing new data about how house buyers search and what they look for in an agent.

One specific point that I found interesting claimed that one half of all buyers are now doing something that I believe is very smart.

Smart Tip For House Buyers

I have been advocating (SCREAMING) for buyers to use a more modern house buying process for years, and now apparently it is starting to happen. Gone are the days of ignorant buyers letting the listing agent or (Gasp) the agent "on the floor" guide them on buying a house. Seriously, times have changed.

Perhaps the most critical element of a modern house buying process is the first step ... interviewing agents for the job of being your buyer's agent. Not unlike home sellers who first interview agents before hiring one to sell their home, buyers too can gain great benefits by working with a top agent that is focused on saving them money while ensuring complete satisfaction in the home that they purchase.

The following graphic was taken from the recent Zillow report, and it identifies the time period in which buyers select an agent. It evens segments the buyer population by generation group (Millennials, Gen X, and Baby Boomers).

Zillow survey of house buyers yields interesting change in behavior

This shows that one half of all buyers are choosing their buyer's agent before they even begin the process of buying a home. Wonderful! Now to reach the second half, as they are not going to be completely satisfied.

You might recall we shared a survey of recent house buyers (prepared on behalf of Chase Bank) a while back that showed that 80% of buyers surveyed wish they had done things differently.

Take a look at this short animated video which shows the reasons why most buyers end up unsatisfied and wishing they had utilized a better home buying process.

Brief Real Estate Buyers Video

home-buying

We have created a simple e-series that is designed to walk you through a better way of buying a home. It is filled with all the information and processes necessary for you to 1) save money on your next home purchase, and 2) become part of the 20% of house buyers who are completely satisfied with their home purchase.

We created the free "Home Buying For Smart People" e-series more than fiver years ago, and since its launch, thousands of people have used its information to save (collectively) millions of dollars when they purchased a home.

The e-series is simply a collection of lessons on how to be better informed when you buy a home, and if you read some of the hundreds of testimonials that have been written by its subscribers, you will know that it has been well received.

One of the core messages throughout "Home Buying For Smart People" is that "things change!" We've continued to update the course to keep up with the evolution of the house buying process. Make sure you keep up with the changes during your next real estate transaction, you'll be glad you did.

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Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

Consider the source. Zillow conducts a study that shows buyers are now starting out interviewing agent. Guess what Zillow sells? Yep, agent ads.

The data is further challenged because the sample comes only from Zillow users. I wonder what first brought the user to Zillow.com? My grill, or homes for sale...

Aug 22, 2016 11:45 PM #1
Rainmaker
702,439
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

I agree Joe Manausa This is long over-due. I agree that the process has changed.

I no longer take people around to view houses. I let them do all the early leg work. They only need me to gain access to the few houses that are candidates for an offer.

Bill Roberts

Aug 23, 2016 03:10 AM #2
Rainmaker
565,763
Denise Hamlin, Broker/Owner
Cardinal Realty ~ 319-400-0268 - Iowa City, IA
Helping Happy Clients Make Smart Choices

I like to think the report is correct and buyers are becoming more discerning and not just working with the agent stood in front of them when they want to write an offer. Buyers should have their own agent. Period. At any rate, it's good to have this report out there, regardless of whether the numbers are accurate or not. It may well motivate other buyers to think about hiring their own agent before they begin their home search in earnest. 

Aug 25, 2016 03:43 AM #3
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Joe Manausa

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