Whether you cater to buyers or sellers, chances are you cross paths every day with first-time homebuyers, who require very different sales approaches by Realtors. What do you know about first-time customers?
What % of customers are first-time homebuyers?
Of 5+ million homes sold annually, about 1/3 are to first-time homebuyers. That’s a lot of home sales – about 1.6M homes annually. No matter how you slice it, first-time homebuyers are a very important market segment.
What are some demographic data of aspiring homebuyers?
According to the NAR, aspiring homebuyers have the following attributes:
- About 50% are 34 years or under
- About 60% make about $50,000 or less
- About 40% live in suburban areas
- About 60% think it’s a good time to buy a home
- About 80% want to buy a home in the future
Should an on-site home inspection and report be different for first-time homebuyers?
Your approach selling to or representing first-time buyers is different, right? So is our approach to first-time buyers! We all know that first-time homebuyers need a lot more love and attention than experienced homebuyers. And we all know that first-time buyers increasingly demand tech solutions related to the real estate transaction.
US Inspect is the only inspection company with a different on-site inspection and report for first-time homebuyers.
Our sales team asks customers if this is their first time purchasing a home. When a job is dispatched to our inspectors, our reporting software alerts the inspector if a customer is a first-time homebuyer, in which case our inspectors take extra special care to deliver important information about the house that previous homeowners may already be aware of, e.g., how to turn off the main water valve, how to turn off the gas valve, locations of electrical panels, how often to change HVAC filters, etc. Our inspectors also provide first-time homebuyers with information about maintaining the house and its various systems and components.
After the inspection, our inspectors deliver a special “First-Time Homebuyer Inspection Report” designed exclusively for first-time homebuyers and accessible via the cloud. The PDF includes unique “Print and Snip” pages for quick reference, special maintenance advice for first-time buyers, seasonal maintenance tips, and helpful time and $$-savings offers for first-time buyers. We also publish and deliver our Easy Addendum, an Excel spreadsheet which lists all inspection issues for easy sharing with third parties, e.g., contractors for estimates. Check out one of our First-Time Homebuyer Reports!
If you’re working with a first-time buyer, make sure to schedule your inspection with our inspectors who cater to first-time buyers!