Question Details

Red Bank Roc…, Both Buyer and Seller in 07701

What is the average number of homes a buyer looks at before making an offer?

Asked by Red Bank Rocks, 07701 Sat Apr 19, 2008

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14
Buyers buy when they are ready to buy. There will always be a reason to not buy a particular property. One can always find fault with a property for one reason or another. If someone does not want to buy, yet, or at all, it’s not hard for that person to find reasons to draw the process out longer.

There are passive buyers, who like to look, attend open houses for year, and are still looking. These buyers can look at 100 houses or more over the course of years.

There are buyers who do buy, but had no intention of making a move. In this case, these buyers noticed a property that sparked their motives and generated a contract. A house they always admired came on the market, a property in a neighborhood they really like came on the market. These buyers look at their target home, and a few others for comparison.

There are buyers who have a wide field of possibilities under consideration and often become overwhelmed comparing different areas. They may work with multiple agents over extended periods of time. Data overload and the challenge of comparing apples and oranges can result in 100’s of homes viewed over months.

There are buyers who are serious and motivated, but have clearly defined criteria, and look at few homes, but the process may take several months. Example: Buyer wants waterfront 6 bedroom with at least 150’ of bulkhead.

There are buyers who need a larger or smaller home as their family size grows. They have motive and goals. These buyers may enter into a contract within a short period of time after viewing 10 or less homes, or they might see more.

There are buyers who are relocating, and may buy a property within two weekend visits to an area, but will have spent considerable time on the internet and phone in research.

As you can see, it varies tremendously…..and I could double this list.

I see the buying process taking longer in this market, as buyers are afraid to make a mistake. There is more fence sitting as buyers wrestle with absorbing data from news media that doesn’t always make sense.



Good Luck,
Deborah Madey - Broker
Peninsula Realty Group
(732) 530-6350
Deborah@PeninsulaFirst.com
2 votes Thank Flag Link Mon Apr 28, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
If you list now, don't use a Realtor. List on zillow.com or trulia.com and keep the 6% for yourself, or list you home fore 6% less and sell faster. Retain a lawyer for 2 hours to do the paperwork. Save yourself thousands.
1 vote Thank Flag Link Sun Aug 31, 2008
It really depends on the buyer, and let me explain what I mean. An experienced homeowner (who has owned more then 3 homes) knows what they want and need in a home. They will be able to eliminate homes that don't meet their criteria and have the finances to purchase a home that fully meets their needs.
A first-time buyer is new to the process and might need to see what is available, before making some decisions.
I have never sold a home when the buyers have looked at less then three properties.
0 votes Thank Flag Link Mon Sep 1, 2008
Red,

Don't know how anyone would be able to get a grasp on this information. Each buyer is different, each area is unique resulting in any answer to your question being "pure speculation." There are other terms that could be used but.....
0 votes Thank Flag Link Mon Sep 1, 2008
As many as it takes. I've looked at 20+ and haven't found one I'd seriously consider yet. Ususally it's the condition/layout of the house, but about 4 of them would have been okay at a lower price (usually attributed to an upgrade they did). A lot of the glitz and glamour of home buying and flipping has worn off, but it left dramatically different homes in close proximity to each other. Bathrooms and kitchens, room conversions, tile, wood, energy upgrades, etc. all got crammed into houses that were near identical years ago and many "upgrades" had a very personal touch that doesn't appeal to some buyers. (For example, I don't like hardwood floors or light colored stone counters.) With the vast inventory in some areas many agents don't know the particulars on each house and you just have to go look (waste everyone's time). I'd guess the biggest varible affecting how many homes to look at would probably be the volume of homes in the area that meet the guidelines.
0 votes Thank Flag Link Sun Aug 31, 2008
Completely depends. Many Buyers look atleast 5-10 before buying. If not in a crunch to make a move, some buyers look at many more. Look at atleast 3 to make some comparisons.

Jill
Jill@texascashbackrealestate.com
0 votes Thank Flag Link Sun Aug 31, 2008
As few as 1, as many as 100. That's why it's better to list.
0 votes Thank Flag Link Sun Aug 31, 2008
We looked at an embarassing 27 houses! Bid on one house, twice. Finally getting a wonderful house that was on the market only three days. We only had two request, two bathrooms and 10 foot ceilings for a 9' grandfather clock. Tricky, but patience is key. Sometimes you have to kiss a lot a frogs before you find a prince.
0 votes Thank Flag Link Sun Aug 31, 2008
I hope it would not be more then 10-15! Part of real estate professionals job is to limit the scope to the amount of homes one looks at. Every situation can be different, but viewing too many is overwhelming and confusing! Let alone the time involved. Work together, narrow the search and explore, you can simplify this process many times!
0 votes Thank Flag Link Mon Apr 28, 2008
Every Buyer is different. I have had Buyers buy the first house they saw and some have seen 70 houses. A good realtor will preview houses for you to cut the list down. It really helps to to communicate with your Buyer about the properties they see online. Sometimes seeing every house in the price range makes it confusing. Basic rule as a Realtor is to listen to your Buyer and meet their needs.
0 votes Thank Flag Link Mon Apr 28, 2008
I looked at 30, after studying the market on the computer. If I did not have the computer, it would have been more. I am making an offer now.
0 votes Thank Flag Link Mon Apr 28, 2008
If you can read your client well. Your average is greatly reduced. The average for a seasoned Realtor who knows the neighborhood sits around five to seven homes. If you listen to a client and know what they want it is really easy to zero in. If they don't know the area, generally the number of homes shown is greter.
0 votes Thank Flag Link Mon Apr 28, 2008
I had a buyer look at one house, decide it was perfect for him and that was it! He was done. On the other had I had a couple that looked at over 60 before they choose one. It really depends on expectations and timing. I've got the patience to look at as many as it takes to find just the right one. After all, it is where you are going to live, and it's the most expensive item that most people buy!
0 votes Thank Flag Link Thu Apr 24, 2008
Scary seeing you here! Lol. There is no average really. It depends on how good the agent understands your needs and what is available in the market. Sometimes it takes forever, especially in a buyers market. It seems to me that the more experienced agents can show you a hand full of homes and you will usually buy one of them. You will be able to tell the experience or lack thereof. If you ride around town and look at a ton of houses, either you are not clear as to what you want or the agent is hearing you, but not "listening". Good luck on your search.
0 votes Thank Flag Link Thu Apr 24, 2008
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