Buyers often wonder, “What’s the magic number of homes I should see before I make a decision?” Today I’ll be answering that and more.
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I’m very accustomed to hearing this question from buyers: “How many homes should I look at before I make a purchase?” The answer often hinges on market conditions and the specifics of a buyer’s situation.
Buyers haven’t had the luxury of high inventory levels these last few years, and with the sparse availability of homes, we’ve seen buyers submit an offer on just a single home without viewing any others, out of immediate need.
I’ve been in this business long enough to remember when we had a glut of inventory and buyers who aspired to see 70 homes. This, of course, is too many.
Plainly put, I’ve seen both extreme ends of the spectrum.
To help tackle the question of how many homes you should view, you’ll be best served to work with a competent Realtor who will devise a realistic approach centered around every detail of your situation. In this way, we’ll be able to come up with a list of needs so you’re not having to do all the work on your own.
When you work with us, we’ll look at three to five homes a day to shield you from the confusion that sometimes follows from seeing too many homes in a short time. What we’ve found over the course of the last year is that the average buyer is looking at four homes and then reaching a decision.
In analyzing the 10-year average, buyers have been known to look at seven to eight homes before making a choice. This look at the last decade is a demonstrable sign that if we, as agents, are listening to your needs, you shouldn’t be looking at an inordinately high number of homes. Our job is to come up with a strategy that narrows down potential purchases for you to make the most informed choice possible.
If you have any questions about the home buying process or any other real estate-related topics, please reach out to us. We’d love to hear from you!