Importance of Homeownership among American Home Buyers in Massachusetts

As the economy recovers from COVID and the housing market gains traction, homeownership is top of mind for Americans, according to the latest survey from Coldwell Banker Real Estate LLC.

Conducted online by The Harris Poll, the survey of over 2,000 adults revealed what’s on home buyers’ and sellers’ minds as 2021 comes to a close.
When tasked with choosing marriage or a mortgage, 82 percent of unmarried Americans said they would rather invest in a home than pay for an expensive wedding. The majority (85%) of respondents were female.

The survey revealed that over three-quarters of respondents (77%) would rather invest in a home than spend money on an expensive vacation. In addition, college graduates are more likely to prioritize homeownership (41%) over paying off student debt (17%).
Who else has real estate on their mind going into 2022?
• Younger Americans: Respondents ages 18-44 are more likely to say owning a home is an important financial goal for them (45%) compared to those 55 and older (30%).
• Renters: 47% of renters say owning a home is an important financial goal for them.

• Hispanics: 42% of Americans surveyed who self-identified as Hispanic say owning a home is an important financial goal.
“The 2021 housing market has been marked by low inventory and competition as Americans continue to keep homeownership top of mind,” said M. Ryan Gorman, president and CEO of Coldwell Banker Real Estate LLC. “Our latest survey suggests that, with generations of all ages and backgrounds prioritizing homeownership over other financial goals, this sellers’ market may continue into 2022. Our network of approximately 100,000 agents is ready to help home sellers take the next step.”
The post Coldwell Banker survey gauges importance of homeownership among Americans appeared first on Boston Agent Magazine.

Who Pays the Home Buyer's Agent?

Both seller's agent fees and buyer agent's fees are part of a typical real estate transaction and are included in the final negotiated purchase price of the property. There should be no additional fees to the buyer for a buyer's agent above and beyond the negotiated purchase price of a home unless specifically agreed in writing between the buyer and agent before an offer is made.

In most cases, the seller's agent pays the buyer's agent for bringing the buyer, negotiating the purchase price and terms, writing a legally correct offer, coordinating inspections, responses, and financing plus handling numerous additional details on the buyer's side of the transaction.

Buyers should avoid contacting seller's agents and sellers directly unless they are comfortable negotiating and representing themselves. That is why it is important for buyers to choose their agents BEFORE they begin looking at homes or as soon as possible if they have begun looking.

Did you know that fewer than one percent of the agents and brokers in Massachusetts have committed to being 100% loyal to their buyers 100% of the time?

To learn more about the pros and cons of various types of buyer agents, or to get a list of experienced local 100% loyal buyer's agents to interview without obligation, click the button below.

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