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Home Shoppers Are Looking for More Flexibility in Their Home Space and Are Willing to Swap Short Commute Time for Affordability, According to Realtor.com Survey
Room for extended family and pets, home office and internet rise in importance for buyers who realize the need to compromise in today's competitive market SANTA CLARA, Calif., June 17, 2021 -- Life is beginning to return to normal throughout the U.S. with many companies announcing their return to office strategies and cities beginning to open up. However, for many 2021 home shoppers who spent the majority of 2020 confined to their homes, the COVID pandemic has influenced what they are looking for in their next house, while the hyper-competitive housing market has them strategizing about how to get ahead, according to a new Realtor.com® survey released today. The need for more space was the top reason driving home shoppers' decision to purchase a new home in the coming year, according to the online survey of 1,200 home shoppers conducted this spring by HarrisX. Although the majority of today's buyers are looking for three bedrooms and two baths, their responses indicate they are looking for more flexibility in their home space and affordability in exchange for a shorter commute -- the new realities of a post-COVID world. "The COVID pandemic ushered in a new way of thinking about what home means, and that is influencing much of what today's home shoppers are looking for," said George Ratiu, senior economist, Realtor.com®. "Garages, large backyards and space for pets always rank high on buyers' wish lists, but those features have grown in importance. The survey results highlight that the pandemic has elevated our relationship with family as well as the need for our home to serve multiple purposes, especially the ability to work remotely. As a result, we are placing a premium on the need to accommodate extended family, and features like a home office and broadband internet." What's in and what's out for post-COVID home shoppers When asked which home features have become a priority as a result of the pandemic, quiet location (28%), updated kitchen (25%), garage and large backyard (24% each) topped the list. Outdoor living area (20%), space for pets (18%), updated bathrooms (19%), home office and broadband internet capabilities (17% each) and open floor plan (16%) rounded out the top 10 pandemic-induced most desired home features. Sixty-five percent of respondents indicated that they are considering extended family when they shop for a home, with nearly a quarter stating that they are planning to buy near family members. One-fifth of those surveyed said they would have extended family living with them full-time and 30% said their new home would need to accommodate extended family staying with them part-time or visiting. Consistent with the desire for outdoor space, terms such as "fenced yard," "acres," "backyard," "front porch," "garage" and "three-car garage" have all seen a significant uptick in searches on Realtor.com® over the past year. With reports of pets being adopted at record rates during the pandemic, the term "pet friendly" also saw a large increase in searches. Decreasing in importance from prior surveys was the need for a short commute time and a home with smaller square footage. Only 9% indicated a short commute time was a priority and 4% were looking for smaller square footage. This was down from 11% and 8%, respectively, in early March 2020 prior to the pandemic. Perhaps due to rising home prices, searches for "remodeled" homes on Realtor.com® were down 88% year to date through May. It appears that motivated buyers are making concessions in their home search, with fewer searches for otherwise-popular features such as granite countertops (-58%), theater/media rooms (-65%), and bars (-52%). Today's buyer is prepared and willing to compromise Again, pragmatic about the competitive housing market, 35% of home shoppers said that they were checking listing websites every day and 25% had set a price alert to get notified when new homes hit the market to stay ahead of the competition. From a financing perspective, 28% indicated that they were planning to offer more than a 20% cash payment, 21% plan to increase their earnest money deposit and 17% plan to either offer above asking price or all cash. While a third said they would not offer above asking price, nearly half were prepared to offer up to 10% above asking. "In today's competitive housing market, it is not uncommon to submit an offer above the home's list price. At the same time, knowing what you can spend and sticking to your budget is one of the most important things a home buyer can do. One way to ensure that you don't go over budget is to limit your search by using price filters to homes under your budget. That way, if you submit an offer that is over the list price, you'll still be within your maximum budget," said Realtor.com® Housing and Lifestyle Expert Lexie Holbert. When buyers were asked to select which features they would sacrifice if they had to reduce their budget, several COVID-coveted features would be the first to go with man cave and pool/spa tied at 24%, followed by guest house and mother-in-law suite both 23% and new construction at 22%, Rounding out the top 10 features to fall by the wayside were solar panels (21%), finished basement (20%), home office (18%), large backyard and guest room (both 17%). Methodology: Realtor.com® commissioned HarrisX to conduct a national survey of consumers, including 1,218 adults over the age of 18 who plan to purchase a home within the next 12 months.This survey was conducted online within the United States from March 26 - April 7, 2021. The sampling margin of error of this poll is plus or minus 1.6 percentage points. Results were weighted for age, gender, region, race/ethnicity, and income where necessary to align them with their actual proportions in the population. In addition to the general population, the survey oversampled 1,218 potential buyers with a margin of error of plus or minus 2.8 percentage points. The search information contained in the release is based on an analysis of the most commonly searched keywords on Realtor.com® from Jan. 1 - May 31, 2021. About Realtor.com® Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate more than 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit Realtor.com®.
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W+R Studios Announces New Cloud Streams Complete with Redesigned User Interface, New Activity Stream, and Improved User Experience
Updated design inspired by social media will feel new, yet familiar and activity streams help agents and buyers work better together. HUNTINGTON BEACH, CA (April 16, 2019) - Real estate software company W+R Studios announced today the release of a new version of Cloud Streams. Since launching in 2014, Cloud Streams has become the leading listing alert tool for real estate agents and brokers in North America. Agents can easily connect buyers to new listings by setting up streams based on buyer criteria and delivering alerts via text message. The new Cloud Streams has an updated UI giving agents an even more seamless process for adding new clients and creating streams. Now at a glance, Agents can now see client activity, preview sent alerts as well as see any client comments. The process for creating a stream in Cloud Streams has also been simplified. Plus, a singular search bar has been added to make selecting an area by zip code or map quick and easy. "We launched Cloud Streams five years ago with the goal of helping agents deliver the fastest listing alerts to their buyers - and it's done exactly that. But it was time for a refresh," stated W+R Studios co-founder Greg Robertson. "We think our design team has knocked it out of the park. Agents are going to love the new look and feel, activity streams and ease of use," concluded Mr. Robertson. To find out more about the new Cloud Streams visit http://cloudagentsuite.com. About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 26 years of experience each developing and marketing real estate software solutions.
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Buyer's Agent: Automatically Post Your Sold IDX Listings to Facebook
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HomeDiary Plugs into MoxiWorks Power Strip
MoxiWorks adds HomeDiary as the newest member of their Cloud open platform December 3, 2017 – Seattle, WA – MoxiWorks recently partnered with FloorPlanOnline's HomeDiary service to offer HomeDiary PRO to MoxiWorks users. HomeDiary is a homeowner management platform that includes a free 3D space planner, as well as other tools to help create a digital record of the home. HomeDiary PRO helps REALTORS® stay connected to their client base throughout the whole homeownership lifecycle. Through the Moxi integration, PRO not only provides marketing tools for the listing side of the transaction, such as completely hands-free, automated single property websites and the free use of the advanced 3D floor plan engine, it also enables agents to stay relevant with their client base as they live in their home with the included HomeDiary sponsorship for an unlimited number of clients. The HomeDiary PRO system is extremely affordable - priced at less than the daily cost of a cup of coffee. "There has been a lot of discussion recently about staying in touch with your client base, or sphere of influence," says Mike McHenry, VP of Channels and Partnerships. "After all, it is somewhere between six to ten times more expensive to get a new client than keep an existing one. But tools have been lacking that create compelling reasons for homeowners to use and engage, as they are mostly singular or one-time use tools. This is where we see HomeDiary filling a vital gap for the agent and their clients." As a digital record of a home, HomeDiary is where homeowners can log projects, photos, improvements, and documents for easy reference to create a digital record of the home. HomeDiary's 2D and 3D space planner allows homeowners to draw a room or an entire floor plan if desired. They can plan furniture layouts, virtually change flooring, plan patio and landscaping ideas, and even play with paint color palettes. Homeowners can even experiment with what that open concept might look like, before they pick up a hammer. It enables any home to have a 3D floor plan visualizer, similar to what you see on those popular home improvement shows. "Our goal is to make documenting your home quick and easy, and to enable every home in America to have 3D floor plan, just like what you see on TV," said Kris Cone, CEO of HomeDiary. "Plus, the HomeDiary platform allows agents to leverage that great content created for the listing to be a useful asset for the buyer, just by claiming the home from the tour, something no other tour company can do." HomeDiary PRO helps agents provide a simple documentation tool to their client base and add another reason to reach out to their sphere. With all of the natural disasters lately, this is a big problem needing a solution. According to HomeDiary research, some 75% of homeowners have no system to document their home for insurance purposes. This creates an issue if disaster strikes. Homeowners are at risk of losing thousands of dollars in value if a fire, flood, hurricane or tornado strikes and there is no record of what was in the home. HomeDiary can help the homeowner reduce that risk in a fast and easy way. About MoxiWorks MoxiWorks is a residential brokerage services company that makes agents significantly more productive and brokerages more profitable by helping them effectively run their businesses. MoxiWorks' integrated tools are centered on a sphere-based selling process that drastically increases agents' repeat and referral business, while lowering overall technology, training and support costs for the brokerage. With MoxiWorks, brokerages are able to make their agents' lives simpler and their businesses more successful. More information at moxiworks.com. About HomeDiary Every HOME has a STORY to tell. HomeDiary was created by a group of veterans from the online real estate industry to create a platform to make it easy to manage and document any home. Their mission is to help you better manage your most important asset to improve its value and reduce the risk of ownership. Discover more at homediary.com, or see our Home pro plans at homediary.com/pro.
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Down Payment Program Data Grows in Size and Scope
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Buyside Launches Fall 2017 Update
You spoke - we listened! Based on your feedback we've updated the BMA -- three changes are highlighted below --- and be on the lookout for additional updates as we continue to improve Buyside! 1. Creating a BMA: Decide which estimates you want to display You can now choose which computer generated estimates that YOU want to appear on the report, giving YOU more control! 2. Creating a BMA: Choose a price range to narrow buyers If you have the Featured Buyers* section in your BMA, you can now choose the target price range to display the number of buyers YOU want to appear on the report. Note: The report will display up to 9 sample buyer profiles and the *Featured Buyers section is not available for all brokerages. 3. BMA & HVS Reports: New Layout and Heatmap tooltips We reordered the sections of the BMA and HVS to provide a more intuitive flow throughout the report. For those with Featured Buyers, your Potential Buyers Circle will now appear on the same page as your Buyer Profiles: Heatmap Tooltips have also been added to provide better clarity of activity in area: "Buyer Activity" is now "Online Activity" to better represent the source of the data. Additional information on this release can be found on the Product Update Log within our Help Center. If you have any specific questions, please reply to this email or contact us: [email protected]
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REALTOR Organizations Increasing Consumer Confusion on Real Estate Representation
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Cloud Streams’ Listing Alerts are Faster and More Reliable than All Major Listing Portals
HUNTINGTON BEACH, California – Privately held software company, W&R Studios, announced today results of an internal study showing that listing alerts sent via Cloud Streams are delivered faster and more reliably than all major listing portals tested. “Starting in September of 2015, we did an experiment. We signed up for the same saved search on every major listing portal to see how they compared to Cloud Streams. The results were pretty shocking,” stated Greg Robertson, co-founder of W&R Studios. “In total, we tested 5 major metropolitan markets and are now releasing the data for two of them, Southern California and the Seattle area. In every case, Cloud Streams beat them all.” Cloud Streams is a listing alert and client collaboration tool for real estate agents. Buyers receive branded “real-time” listing alerts by email and/or text via desktop, tablet, iPhone or Android app. Listing alerts link directly back to the client’s personalized property stream, and agents are immediately notified when their clients “like” or want to discuss properties in their stream. “In the Seattle area, buyers using Cloud Streams would get listing alerts up to 23 hours faster than Zillow’s “Instant” alerts on average, and up to 45 hours faster than listing alerts on realtor.com,” stated Mr. Robertson. “The other side of the coin is reliability. Of 56 qualifying properties Zillow only sent out 25 alerts (45%), realtor.com only sent out 29 (52%),” continued Mr. Robertson. “In a hot real estate market being the first to know can make all the difference. Real estate agents using Cloud Streams make sure their clients get all matching properties, first.” Testing was done from 9/17/2015 to 12/21/2015 in both Southern California (CRMLS) and Seattle (NWMLS). W&R Studios will post a spreadsheet showing the data collected. To learn more about Cloud Streams, please visit http://CloudStreams.net. About W&R Studios Founded in 2008, W&R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a “less is more” approach to software design, elegant user interfaces, and using the latest in agile programming, W&R Studios’ software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 20 years experience each developing and marketing real estate software solutions.
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RealtyTrac Launches HomeDisclosure.com Providing "Pre-Diligence" Reports for 117 Million U.S. Homes
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