Understanding first-time homebuyers will help you better meet their needs.

Key Takeaways:

• First-time homebuyers account for more than half of all future home-buying potential.
• These purchasers may have little to no knowledge about the buying process and may be fearful of what it entails.
• The more real estate agents know about this demographic, the better they can serve their home-buying wants and needs.

According to the National Association of REALTORS®’ confidence report for March 2017, the share of first-time homebuyers has been on a modest rise, up from 29% in 2014, amid sustained job creation. Most of the time, these clients have little to no knowledge of how the home buying process works. That’s where the seasoned, experienced real estate agent comes to the rescue.

Who is the first-time homebuyer?

To offer the best possible service to your first-time buyers, you’ll need to know exactly who they are. The infographic below provides detailed information about today’s first-time homebuyer:

Know what they fear most

Now that you know who the first-time homebuyer is, you’ll also need to understand what they fear the most about the real estate buying process. The infographic below provides information to help you alleviate the fears of first-time homebuyers:

Market your expertise

First-time homebuyers account for more than half of all future home-buying potential. Arm yourself with the information in these infographics to demonstrate your expertise in the field, build your business, and help first-time homebuyers secure the homes of their dreams.

Infographic sources:

2016 Recent Home Buyer and Seller Profiles,” National Association of REALTORS®, Nov. 11, 2016 

Realtor.com September Home Shopper Surveys Point to Big Shift Ahead,” realtor.com, Sept. 2015

First-Time Home Buyers: How to Conquer the 7 Biggest Homebuying & Financing Fears,” Compass Mortgage Blog, Jul. 31, 2016

Meet the first-time homebuyer of 2017,” Chicago Agent Magazine.com, Feb. 1, 2017