Saticficing in the Home Buying Process - ReMarketingExpert

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• Saticficing in the Home Buying Process

By Remarketingexpert.com
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Saticficing Satisfy and Suffice

• According to this concept consumers are
  predisposed towards making satisfactory decisions
  instead of the best possible ones mainly for
  three reasons
• They dont have (or feel they dont have) enough
  information
• Their ability to process information is limited
• They dont have the time to collect all the
  relevant information and process it adequately

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Home Buying Process

• There may be hundreds of suitable homes in the
  market but the average home buyer will see no
  more than 12 before making a decision.
• It is notable that this is down from 15 in 2007
  and it decreases steadily every year.

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Role of Internet in Home Buying Process

• As internet increases its utility as a primary
  source of real estate information and more and
  more visual information such as quality
  photography and high definition video is readily
  available, the home buyers will rely on the
  online material to rule out homes with less
  online appeal.

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Digital House Hunt
According to the Digital House Hunt report we
discussed in our previous posts, 57 of the home
buyers will search online for 60 to 120 days
before going out to view homes. There is no
doubt that the short list of the 12 homes they
will view before making an offer will contain
only the homes that really impressed them and
stood out from the competition.
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Before the Internet Revolution

• Before the internet revolution a listings
  marketing budget would be hardly enough to allow
  for a few Xerox flyers and, in the best case, a
  couple of newspaper ads.

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Home Buying Process Today

• The Internet revolution changed the home
  buying process fundamentally.
• The real estate agent can now add much more
  value to the process than in the past but the
  required skill set has now changed The real
  estate agent is now a marketer more than anything
  else.

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