It’s a brand-new year, but the same seller’s market that created turbulence in many locales throughout 2021 remains persistent. Amid competitive homebuying and selling conditions, like low inventory and bidding wars, one thing holds true: consumers need the assistance of a professional real estate agent now more than ever before.
On the latest episode of Keepin’ It Real with Nick Bailey, RE/MAX President and show host Bailey dove into real estate consumer demands and how they’re evolving in 2022. He was joined by panelists Jamie King, marketing strategist and founder of Camp + King, a California-based creative agency that’s worked with RE/MAX for seven years, and Michael DiSalvo, a real estate consumer who recently bought a house in New York.
According to King, the perception of living space has shifted over the past nearly two years from being a home to being a hub that accommodates all aspects of life. The concept of a hybrid home is supported by findings from his agency’s research.
In partnership with Camp + King, RE/MAX produced The Future of Real Estate Report, an all-encompassing resource that reveals the patterns and future tendencies of real estate consumers and provides context to where the industry is headed.
“We looked at things like understanding the emotional highs and lows of the buying and selling [processes] to understanding the technology needs of agents and consumers,” King explains of the research.
DiSalvo understands the emotional highs and lows associated with modern homebuying all too well. He and his family began browsing homes in 2019 and finally found – and secured – their dream home in 2021. Entering the pandemic on the hunt for a home, DiSalvo noticed the culture of home shopping change from leisure to aggressive – creating an environment he believes no one should withstand alone.
“Personally, I would never [buy a home] without a [buyer’s] agent,” he shares of his own experience.
Like DiSalvo, most homebuyers these days begin the hunt online. He shares that virtual home tours played a key role in his own homebuying journey to narrow down which properties were worth seeing in-person.
Accordingly, King says that 68% of consumers would like to see virtual home tours continue post-pandemic. Consumers are finding properties on their own and bringing aboard a qualified professional – like a RE/MAX agent – to help make their dream a reality.
“Consumers are feeling more confident as it relates to finding a potential home. And I think there’s been a shift [when using] an agent, which is, ‘Don’t find me the home, get me the home,’ King says. “There’s a lot of technology and resources for consumers to find the home. They needed an agent to get them the home.”
DiSalvo boasts that his agent’s knowledge, resources and connections are what made his winning offer stick – and convinced him that using an agent for such an important transaction is essential.
“Having an agent that will stick with you from contract to close is really, really important to get you through that process,” he explains. “Our agent not only connected us with our lawyer, but connected us with a really smart mortgage broker as well… And that was instrumental in getting the offer accepted.”
Tune in to the latest episode to catch the panelists well-rounded insights on how consumer demands are shaping the future of real estate.
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Written by Leah Curtis
