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The Real Deal
Home buyers and sellers are busy, seek value
By Jean Newton
With the overload of technology in the information age, consumers are changing their attitudes about how they view real estate transactions by becoming more involved in the process, while relying on real estate professionals for knowledge and information.
Two recent consumer- researched studies conducted for the National Association of Realtors revealed that the home buying and selling public are seeking greater control over the real estate transaction and value real estate professionals who are knowledgeable and adaptable to their needs.
According to the National Association of Realtors, the studies, conducted by an independent research group, found that as consumers have busier, more complicated and more stressful lives, they find a compelling need to simplify and streamline their lives and delegate unnecessary chores. Technology has played a big role in making consumers feel knowledgeable and empowered.
The research shows that as a result of the increasing volume of information and messages delivered by means of new technology, consumers are on the brink of overload. The association reports that "people feel under pressure and stressed for lack of time. They are just not getting to their 'to do' lists, and so there is a tendency to jettison responsibilities where possible. At the same time they are trying to stay in control."
The association also reported that as consumers look for ways to better manage their lives, they prioritize what's important and what's not. "As they look for ways to better manage their lives, they utilize three strategic approaches to control: eliminating things
that aren't important or worth the effort, delegating things that can be delegated and controlling those things that remain," the association stated.
According to the research, one result has been a new kind of approach that allows for working together with an expert when it comes time to delegate tasks, yet leaves room for consumers to maintain involvement. These trends are particularly marked in the case of potential home buyers, who are trying to maintain control over the required decisions and complex financial transactions involved in a real estate transaction, while steering clear of the burden of details.
According to Senior Vice President Frank J. Sibley of the National Association of Realtors, the good news for Realtors is that potential home buyers may be beginning to realize the advantages of the kind of personalized service a Realtor can provide.
The study is the latest in a series of ongoing studies to track social change in the United States that has been conducted on an ongoing basis for 36 years. The studies utilized ethnographic field research techniques, with anthropologists interacting with, interviewing and observing home buyers and sellers and Realtors from across the country.
Information provided the Silicon Valley Association of Realtors. Send questions on any topic to jnewton@jnpr.com.
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