RE/MAX Data Reveals How Today’s Real Estate Consumers Define Home – And How Agents Can Help Them Achieve It

While the patterns of real estate consumer demand may fluctuate, one thing remains constant: agents add value to a real estate transaction.

In 2020, the onset of the global pandemic sparked instantaneous change in how people function within their space. Guest bedrooms turned into offices, backyards turned into sports fields, and the kitchen doubled as a diner, restaurant and coffee shop all in one. With people home more than ever before, real estate agents quickly adapted and helped homebuyers find – or create – a space that met their everchanging needs.

Fast forward more than two years and while some of those habits have stuck around, others continue to evolve. Homes, it turns out, exist for much more than shelter – they play a key role in how people rest, gather and grow.

An update to its original findings years prior, the Revisiting the Future of Real Estate in 2022 Report by RE/MAX – created in partnership with creative agency Camp+King, which conducted the survey of consumers – set out to determine how the concept of home is forever changed, and especially what that means for buyers.

A sampling of key findings

When respondents were asked about the key purpose of their home in 2022, the response was unanimous: Homeowners consider their residence “a place to make loved ones feel comfortable.” This, it seems, goes beyond the cohort living inside the home. When asked what they use their house for beyond sleeping and eating, 54% of respondents said entertaining (like having people over) and entertainment (like watching TV) take priority.

This shift of focus correlates to the early days of the pandemic where safety-focused distancing halted hosting in its tracks. Now understanding the importance of connection more than ever before, many of today’s buyers are searching for space centered around comfortable gathering and reuniting with others.

Work tendencies are still impacted by lifestyle changes, too. In the report, 55% of respondents are still working remotely or with a hybrid schedule.

But whether a prospective home has a spacious dining room or home office seems to not matter to many of today’s buyers. The majority are looking to take on a project that allows for their own customizations. 73% of buyers are looking for a home that requires work, anywhere from small updates to renovations to a full remodel.

This is yet another point in the transaction where the help – and experience – of a seasoned real estate professional can be crucial. Right now, agents are playing a key role in helping buyers visualize the potential in a prospective home.

The three leading ways consumers think an agent could be helpful in imagining what could be done to customize a fixer-upper include:

But in addition to their keen eye for improving value, agents are being selected by consumers for other core reasons. The report identifies honesty, comfort and transparency as the three skills today’s consumers value most while working with their agent. After years of shifts in society, as well as shifts in local housing markets, an emotional connection is a priority for consumers choosing a professional to work with.

To learn more about the current real estate trends – including the needs of buyers and sellers – download the full Revisiting the Future of Real Estate in 2022 Report.

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