Recent Real Estate Consumer Survey Provides Surprising Insight

PR Newswire

ANNAPOLIS, Md., Jan. 21, 2014 /PRNewswire/ -- A recent real estate consumer survey conducted by Qazzoo.com, a social search engine connecting real estate professionals with local home buyers and sellers, reveals the real estate market seems to be the least of the concerns of most homebuyers.

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The survey focused on identifying the level of confidence the average active homebuyer has in the market as well as how consumers interact with the real estate professionals they come in contact with. From these answers several assumptions were made. We were also able to uncover more about the average real estate consumer and how real estate professionals can serve them more effectively. Thereby allowing Realtors and Loan officers to maximize their efforts by understanding what most consumers are thinking and how to communicate with them more successfully.

Below are the results from the recent survey and the deductions that were drawn regarding the issues that home buyers feel most affect them.

The question "What aspect has been the most frustrating in buying your new home?" The answers appear below here in descending order. 

1.       Lack of timely follow up by the real estate agent 42%
2.       Being shown homes that don't meet your needs 36%
3.       Lack of real estate inventory on the market 11% 
4.       Understanding the mortgage options available  5%
5.       Difficulty in qualifying for a mortgage 4%
6.       Other  2%

For the purpose of identifying potential bottlenecks in the process only one answer was able to be selected. The available answers were offered in the same order which most people shop for and eventually purchase a home. "There are obvious differences between the first two potential answers and the last three in the survey "said Michael Urbanski, CEO of Qazzoo.com.

"The first two answers are strictly service related and the final three are focused on the real estate and mortgage markets. This was intentional in order to illustrate what can and what cannot be controlled by the real estate professional. As an example real estate professionals do not have control of the number of homes that are on the market but they do have control of timely follow up. They do not have control of the interest rates or loan programs but again, they do have control of showing the homes that match the consumer's stated desires "continued Urbanski.

"Surprisingly, the single largest issue and therefore the most likely bottle necks occur in the service category. This could be because the answers that relate to the market are not likely to become bottlenecks unless the first two issues have been overcome. However, the first two answers are also the easiest to overcome as the local real estate agent does have some control over timely follow up and showing the homes that meet the home buyer's desires "concluded Mr. Urbanski.

Designed to improve the online experience for consumers and small businesses, Qazzoo is a consumer powered search engine that connects consumers with local merchants. Qazzoo.com was created by several of the key executives of Heavy Hammer, developers of the patented MIMIAN software for geographically-focused network advertising.

Contact:
Margaret Chialastri
443-837-1059
mchialastri@Qazzoo.com

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