Buyers Agent vs Sellers Agent: Generation X Home Buying Trends
If you were born between the mid-60’s to the early 80’s, then congratulations, you are a member of Generation X. And, your generation is the one leading the real estate market comeback. It’s true; in 2013, Generation X accounted for 31% of all new home buyers. They also accounted for 29% of all home sellers. And, 65% were repeat home buyers.
Why is Generation X Leading the Real Estate Resurgence?
Generation X’s buying and selling dominance in the real estate market is based on several key factors. For starters, this generation is the one that is currently most interested in upsizing. The desire for larger homes to accommodate growing families is a powerful motivational tool and one of the most common reasons why they are selling and buying more.
Generation X is also the current generation with the highest median income, thus making it easier for them to make ends meet and more financially comfortable for taking the leap into home ownership. In addition, this generation is among the first to embrace technology to help them find the properties that best fit their needs and budgets. Gen X home buyers do more research, they understand the housing market, and they usually understand how homes are priced and how interest rates work.
What Do Gen X Home Buyers Want in a Home?
Gen X home buyers are specific when it comes to the homes they want to buy. According to sales made in 2013, the home buying preferences among Generation X include:
Energy efficient homes – Today’s home buyers want energy efficient homes with Energy Star appliances. They want well-insulated homes that make it easier to control utility costs while improving interior comfort.
Multi-use areas – Along with the traditional living room, bedrooms, and kitchen, today’s home buyers want multi-use areas that can adapt and change as the family’s needs grow. For instance, they may want an extra room for a home office, a man cave, a craft room, or a nursery.
Open floor plans – Too many interior walls and corners make for too much wasted space. That’s why today’s home buyers are most interested in open floor plans, which allow for easy traffic flow through the home’s primary rooms.
Move-in ready homes – Despite the popularity of DIY shows on television, most Generation X home buyers don’t want to spend two years renovating their new homes. They prefer move-in ready homes with their priority amenities already in place.
Is a Buyer’s Agent or Seller’s Agent Better for a Generation X Home Buyer?
Simply put, Generation X is leading the resurgence of the real estate market because they are more in-tune with what they want in their new homes and they use the resources available to reach their goals. One such resource is a buyer’s agent.
A Generation X home buyer wants the best home for the best price, so they know to avoid using a seller’s agent when searching for their new home. The seller’s agent has only one goal – to meet their obligation to their seller client to sell the home for the highest price possible. On the other hand, exclusive buyer’s agents are working to please their clients and work hard to negotiate the best terms for the buyer.
At Just For Buyers Realty, we specialize in helping every generation of home buyer find, negotiate, and purchase their dream home. Best of all, with an exclusive home buyer’s agent, the home buyer doesn’t have to pay a dime for their agent’s services. Costs are deducted from the seller’s agent’s commission! Just give us a call at 910-444-2851 today. One of our exclusive buying agents will be more than pleased to assist you.