Survey: What Consumers Want

by bkrigbaum@solagroup.com







John
Burns Real Estate Consulting

teamed
with 24 national builder/developers and a national Realtor group to
complete a  comprehensive home buying consumer survey. In
total, 9,694 potential home buyers from 43 states took our 54
question survey. The findings are being analyzed by region and will be
available for purchase in November. The results vary significantly by
geography and household profile, but here are a few conclusions that
rang true nationally:

  • Location and Home Style /
    Design are Far More Important than Price – only 17% said
    price was most important.

  • Choose Your Amenities
    Carefully – 78% of buyers are considering communities with homeowners
    associations, and provided very specific feedback on which amenities
    they valued. The values varied by region and household composition.
    This confirmed for us that targeted, localized Consumer Research will
    help you spend your amenity dollars wisely to create a competitive
    advantage
    over others.

  • Prefer New But Competing
    With Resale – 70% would prefer a new home, but 73% said they are
    considering resale homes as well. While the survey was skewed heavily
    to a sample size that had visited a new home community, the consumers
    reminded us that we have to give them a great reason to buy new over
    resale.

  • $5,000 for Green, but not
    so
    Fast! – 73% are willing to pay $5,000 or more for a home with
    energy-efficient features, but they will spend their dollars on the
    right flooring and countertops before they will pay for
    energy-efficiency.

  • Little Urgency – Only 16%
    are so dissatisfied with their current home that they feel the need to
    move soon, but 55% are looking to move soon if they find the right
    opportunity. Survey your interest list to understand their
    “right opportunity” and create the opportunity!

Consumers want a voice today.
There has never been a greater need for
consumer research or the need to start listening to “their
voice.” Help make a difference today by understanding first
what consumers want, what they are willing and able to pay for today,
and what we can do to make a difference during today’s
challenging market.


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