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Wednesday, December 28, 2011

Men and women are different homebuyers too

It is a well known fact that men and women tend to have different approaches to many situations, and purchasing a home is apparently one of those situations. While purchasing a home had been traditionally a male domain in decades past, women have emerged on the home buying scene, with expressed housing needs and tastes.  Also, statistics show that over the last decade, the face of the homebuyer has shifted somewhat, with many more single women opting to jump into the homeownership pool, rather than waiting to be part of a couple. According to a Royal Lepage survey, upwards of 30% of single women own their own home.

Keeping in mind that men and women may approach a property differently, there are certain things that a REALTOR® must consider when assisting a buyer to select a property, according to Sundaybell, an online company specializing in matching homebuyers and sellers with their ideal agent.

Although men and women tend to look for different things when buying a home, there is also much they have in common. And that's where the value of working with a real estate professional comes in. "A good REALTOR® will take both parties' concerns and preferences into account, and find a compromise solution that addresses everyone's wants and needs," says Andrew Brest, VP Marketing of Sundaybell Inc. Lee Redwood, Sundaybell's VP Sales agrees. "A part of an agent's job is to sometimes act as a bridge between partners, helping them to understand the other's point of view."

Differences in preferences between men and women, and the presence of them in the marketplace has caused some to take notice; Coldwell Banker did a survey to explore fully what these home buying differences were, and if Realtors should be tailoring their marketing and support efforts.

Some key differences that the survey revealed were that women tended to make decisions more quickly.  70% of women knew straightaway upon viewing a home that it was the one for them, whereas only 62% of men felt that sure, that quickly. Men apparently needed a little more “tire kicking”, and required more return visits than their female counterparts to finalize a decision.
It terms of location being an important factor, only 37% of men felt that location was one of the most important things when buying a home, compared to 55% of women respondents. In the matter of security, men and women found some common ground, both valuing it as important.