The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership.
The top 4 reasons to own a home cited by respondents were not financial:
- It means having a good place to raise children & provide them with a good education.
- 2. You have a physical structure where you & your family feel
- It allows you to have more space for your family.
- 4. It gives you control over what you do with your living space, like renovations and
The 5th reason on the list is the #1 financial reason to buy a home as seen by respondents:
- Owning a home is a good way to build up wealth that can be passed along to my family.
Whether your client is a first-time homebuyer or a move-up buyer who wants to start a new chapter in their life, marketing to their emotional reasons is key.
Jeff Cohen, our resident training guru, has these tips for finding out your client’s emotional why’s:
Use the John L. Scott Finding Your Home Buyer’s Guide and take time to listen to your buyer’s situation. Let your buyers know “It’s about the possibilities in our client’s lives.” Discover what possibilities are being met in their view of homeownership. In addition, use the “What’s most important to you?” page and the Home Buying Planner questionnaires.