We’ve come a long way since the days when home owners put up yard signs and conducted open houses to announce their intention to sell. Now, while we aren’t saying that those events aren’t still occurring and very much a relevant part of the overall process, you’d have to agree that the process of buying and selling a home has transformed radically over the years for Durant, OK and everywhere else!
INTERNET AND SOCIAL MEDIA
If there’s one thing that has irrevocably changed the real estate landscape, it would undoubtedly be the role of the Internet and social media in selling a home. Providing free resources with no prior commitment required (and assured anonymity!), buyers now have access to an unprecedented level of information.
With almost every listing posted online, prospective buyers get their first tour of a new home on a screen. Time-consuming surveys and domestic visits come much later down the road.
- Searching for a new home? Browse through the listings on any real estate website, and sort according to price, square footage, location, and more.
- Need some info on the neighborhood? Post your query in a relevant forum, and watch the replies pour in!
Thanks to the ever-expanding options, homeowners are also getting choosier when it comes to selling their property. In fact, seller’s accepting the first offer on their home has dropped over the recent years, preferring instead to evaluate offers.
CHANGING ROLE OF A REAL ESTATE AGENT
Many buyers prefer to bypass agents entirely and buy directly from sellers. While you no longer need an agent just to see what properties are available in the market, their role remains essential (see my blog post on how to choose a competent real estate agent who is familiar with your area, much like we are in Durant, OK).
For example, a licensed real estate agent gives you the opportunity to enter prospective homes to get an accurate idea of the look and layout of a home. When handling legalities, it is best to have by your side, someone who has made a career out of navigating all the legalities of a real estate contract. Factoring in these extra risks and costs, working with an agent can actually save you by way of painful experiences and dollars in the end.
CHANGING DEMOGRAPHICS AND THE AVERAGE HOME-BUYER
As the expectations from a real estate agent have evolved, the average homeowner has also undergone a rapid makeover. While a few decades ago, most home buyers were married couples (aged 33 years on average, according to the National Association of Realtors), contemporary home buyers may be married couples, single men, and women as well as unmarried couples.
BIGGER HOMES, MORE BATHROOMS, AND EXTRA FEATURES
As the average American family shrinks in size, they collectively prefer larger homes! Homes with more and larger bathrooms are also in high demand, with the minimum preferred number being two. Better standards of living mean that features like central air conditioning and inbuilt appliances are much sought after.
If you’re looking to buy, sell, or just needing information concerning the real estate market in Durant, OK, let’s set up a time to chat.