Summer Housing Market Trends

Summer Housing Market Trends



an hour afterwards you can have it for later share it with others we're also going to be guiding you towards a PDF version of the report that we're going to be sharing all the statistics that we are going to be sharing with you today we will be also available on our Resource Center and I'll mention that towards the end of the webinar as well the other thing I'd like to quickly mention another housekeeping item is just that we're really incredibly very transparent as a company and we hope that some of the data that you see today is useful if you'd like to share it on your own social media channels you certainly can if you want to connect with us on Facebook Instagram Twitter our handles are down there at the bottom again just know we want the data to be shared so feel free to share that as you like my name is Andrew Hopp solid director of industry outreach hopefully I've had the privilege of meeting you somewhere along the road over the last six years I've been with Zillow and a long time the industry as well just really passionate about aging education what you all do day in and day out providing the latest in tools of technology that we're providing as well as the industry so that's a little bit about me I am based out of Seattle I'm really fortunate to be co-hosting this webinar today with Lawrence poor she's our senior manager of insights and she does send a lot of time trying to figure out what is going on with buyers and sellers via surveys interacting engaging with them to find out how we can best build product that's going to continue to inspire them and ultimately connect them to one of you and so today a lot of the data is pulled from surveys and statistics that Lauren and her team have been compiling Lauren if if you wouldn't mind introducing yourself as well make sure the audience can hear you hi nice to nice to be chatting with you all today so it's a little bit about yourself well I have been officially on the dillo team for about three years two years now but I've actually in my former life I was a research manager over at ipsos which is an international marketing research firm and I had the pleasure of being a zillow grow with them being my client since 2008 okay and what are you doing for Brazil enough well I have the fortune of working on the consumer insights giant team and we really get to work with a variety of different groups internally they have a question and we try and use consumer research to answer those questions wonderful yep we feel like we've got a really left spot on our organization okay awesome and one more health keeping item and that is just in terms of questions if you see something or hear something you want to you want to chime in let me know if I can answer it and I can ask born in real time we will we can and you can use the GoToWebinar panel for that just ask questions throughout we'll save some time at the end now we do we do these quarterly housing market trend reports and updates so this is our summer edition and we decided to focus heavily on buyers the specific title of today is how do buyers search for a home and what is the role of the agent so there's a lot of statistics and a lot of them the agent the good buyer community that we've interacted with to get their feedback on sort of what they're searching how they're searching and how quickly they want to transact and then ultimately how to pair them with you as well so that's kind of what we'll talk about through the trends report we're going to start off by just giving you an introduction of the research study that learn and her team put together how many agents were surveyed where the data is coming from and then we'll talk a lot about understanding how they're searching for a new home specifically buyers this is a national survey that we've looked at a lot of the the data might appeal to you so that you might have questions about and you say well that doesn't really apply to to me in my particular particular area we want to cover all that as well so again feel free to ask questions throughout the webinar and then ultimately the role of the agent in the buyer search process after they told us what they're looking for how does that impact you all and how can you best connect with them today so that's sort of what we're going to start off with Lauren if you don't mind talk to us about the consumer research decision making process who we surveyed and we're all this data that we're about to to present came from right yeah thank you so much andra for the warm welcome like I said I'm super excited to be here today to kind of talk through some of the recent trends that we have received from our Zilla marketplace report but just at a high level I just want to kind of explain how important consumer research is to Zillow group as a whole and how it's fed through my group that I work on which is the insights so within the past year we've actually collected and interviewed 50,000 consumers across the country and we've done that too variety of ways so the one of the main ways is quantitative research which is predominantly survey based and we also have a colligative research is one of our popular methods and that's focus groups both in person and online and it also can include one-on-one interviews in addition to these we also conduct with their user experience team we partner with them and collect over a hundred thousand interviews on our site alone so on zillow com Julie calm if you see something come up where it asks a question that would be coming from here and what our ultimate goal is to really kind of go through all the insights that we collect and really feed them to the specific groups internally that can make a better product decisions and ultimately you know help consumers with their search for their new home search for the new rental help selling and ultimately connect them with agents who are also absolutely critical to their process so one of the major studies that we have ongoing is the tracking study where we're looking at the market place and we're looking at what trends are happening so we collect 750 completes a week and that adds up to around 39,000 completes a year and we survey the general population to try and understand where everyone is in the marketplace and we find within the survey that and this is may data so very recent we find that sixty four percent of the general population is in fact currently owning their primary residence we also wanted to have kind of a forward view of what percentage of the US general population is looking to buy a home in the next six months and we find that twenty percent of them are indeed looking to buy a home so that's really critical to us obviously it's critical to you as well and that kind of led to the foundational research which we are presenting today which is the Zillow group marketplace report and we partnered with an independent market research agency Lieberman research worldwide they conducted on the online survey for us and we went out and reached a 13,000 total consumers and we surveyed 3,000 buyers within that so the additional a couple thousand are spread across homeowners renters and sellers so we try to kind of get a deep view in terms of what the processes work for all these and we are going through the buyer section of that today so what does the buyer search process look like one of the first questions that we wanted to figure out is how long buyers take to search for our new home we found that on average buyers take just over four months and they are searching around the predominant grouping is around three to six months but we do actually see that forty three percent of them are taking less than three months to search for their new home we also know that we're going to share this data across you know the US but we've also looked for key regional trends and just want to share a couple of snippets with you throughout this presentation we do find that fires because then the Northeast are significantly more likely to be spending more time searching so we find they have an average of four point six months where those in the West are actually the ones who have the shortest time frame which is three point nine months we also see some differences in terms of age so boomers which are defined in the study as those buyers between the ages of 55 to 64 they also spend the most time searching and their average is 4 point 9 months whereas the younger millennial so those between the ages of 18 to 24 they spend just 3.7 months searching okay we mi know we do a lot of site surveys as well we survey the consumer quite often and one of the statistics that we have found internally as well is that the consumer audience ando and Trulia as they're looking you know to make a decision on buying or selling sixty percent of them actually I say that they want to transact within 12 months as well I think that just reiterates the importance of having your online presence but when consumers are reaching out to you they are active and we find and I know a lot of you can maybe a Tesla this that's a zillow trulia consumer is it pretty well educated but sixty percent of them say that they want to transact within 12 months and so that kind of reiterates a lot of what you're saying in terms of the Fighting's that you guys you guys had so when they're searching for a new home are they searching on their own or are they searching with someone else we find that eighty-six percent of them actually co shopped with someone else and the vast majority of those are part about their familiar familial unit so predominantly is their spouse or partner but interestingly over a quarter of them are shopping with their child or children and this can be you know teenagers but it also can potentially include some of the older older sets of children as well we wanted to understand as well what types of properties buyers are looking for when they're searching for a new home and by far and away the predominant we'll see type of poem considered but also the type of home purchased on the left-hand side is that single-family home so whatever is in green is the types of homes that they considered and then blue is purchase so one thing that we kind of looked at two is the difference between the green and the blue bars to see you know is there a gap or are most of the people who are searching for this type of home ending up successfully being in that home and we do see that the highest what we're saying conversion rate from considering to purchase is within that single-family home we do see a little bit of a drop off in the town homes as well as the condos and one more note on the regional peace Southwest is significantly the most likely to be considering single-family homes so eighty-eight percent are considering single-family homes there whereas Northeast it's much more it's much higher for town house or townhouse and duplex or triplex so twenty-four percent of those buyers in the Northeast are considering a townhouse and fourteen percent are considering a duplex or triplex when they found a home or when they're looking for a home and they're trying to evaluate is this really the home that I want to make an offer on they are using a lot of different tools to help them make that decision so by far and away the top ones are having an inspection or a pre-inspection of the home as well as taking a private tour of the home we also see in a separate metric in this survey the actual number of inspections or pre inspections that these buyers are conducting and we see that they average is well over 1 so what that indicates to us is that people are requires are really using that inspection piece to make a decision of whether to go through with that offer or not yeah especially I know a lot of you in our in low inventory markets and so the pre inspection process is super crucial and what that kind of indicates too is it's taking more and more buyers a couple of opportunities a couple of tries to get into a home so some of that might be like well I'm having two or three pre inspections I haven't quite gotten my offer accepted yet and that's why you're seeing the inspection be more than 1.1 essentially is it's taking more buyers opportunities to get to them another thing that's really critical across the span is is the ability to take a tour to evaluate that home so we find that taking a private tour is especially critical we also see that around half feel that attending an open house of the home is critical and just over a third feel that watching a video tour of the home it's critical open house and video tours are especially important in the north east and west okay yeah again show you show show property i think that the buyers are saying that yeah not only is an inspection super important but i need the guidance of an agent I need to take a tour of the house I've got to either see it myself through an open house but I think the majority are saying here that they want the advice of a real estate professional to guide them through the home and that's that that's what the the hope that answers your question Robin in terms of what private tour sort of means mmhmm yeah we also actually asked buyers how many tours and how many in terms of private tours versus open houses they attended and we find that on average of our tours about seven home but it's predominantly within the private tour so an average of four and then a little bit under three for the open houses so again when we were kind of discussing this earlier we really feel that you know open houses are critical for some of those folks but for a really serious fire they really do want to go in and have private tour of that home and I think we're going to break some of this down by demographics of fire soon then yeah yeah and actually I'm with in the southwest tours are critically important as well so they average 5.1 tours and that's the highest across the two different regions that we looked at not it we also wanted to note again that agents evaluation of the home is right in the middle so 56 person say that it's really critical to have an agent's perspective and evaluation of the home and we also see that there's actually some pretty significant differences among first-time versus repeat buyers so every single thing shaded in blue is actually significantly more important to that first time fire we've also conducted a lot of qualitative research to really understand the role that the agent plays with that first-time buyer and they really do need that guidance to kind of walk them through it because basically since they haven't gone through everything is important and they really need that agent to help guide them through and help them prioritize the ones that are left in the lighter grey are actually significantly more important to repeat buyers and those are having an infection as well as healing a floor plan of the home and floor plan is most important to Southwest buyers so 71 percent of those in the southwest say that that is very important in their home evaluation um so I can ask you a question on sure you haven't got a question about open houses and if we are specifically in the survey asking people if they like open houses or or think that they are effective as far as their own individual search like is an open if it is a tour through an open house a significant enough tour that the by ourselves comfortable moving forward to the property well we are definitely seeing quite high numbers of them and especially we're seeing in some regions that's what more popular method and I think what's happening here is they're trying a lot of different things and that could be great as a warm-up thing to get them used to it but then it's not in replace of those private home tour so people are doing different things actually we looked at new construction and for some reason open houses are more important or more more often utilized for new construction whereas existing and the private tourists are more important so we would love to do more qualitative research to kind of understand what's driving that but we are seeing some differences so again I think both of them are important for different ways and it just happens to be that more buyers overall are taking private private home tours okay yeah sounds good so the next sections on tour the resources used during the home search this is a lot of interesting data that buyers are telling us where they're searching and how and why yes and I just want to kind of circle back on on you know is this important or not in the previous section so we asked some of the things of what is important to you so that was a lot but then the actual numbers is how many you took so there where we say an average of 4.1 or something we just said how many of them did you actually do not if it was critical in your search or not so we kind of tried to triangulate there to see really am where things netted out in terms of the resources what we're really seeing in the real estate market place both on the rental side as well as the virus side here is that it really is this high-tech and this high touch marketplace because the number one and number two resources used by buyers are online and a real estate agent or broker so an online resource to reason why it says and that is we simply combined the use of online access via a laptop access via a mobile phone or access the app on a mobile phone yep and we also looked at whether there were any differences among the age cohorts in terms of whether they were likely to you know maybe the older generations were less likely to use online and we did find that actually eighty-five percent of boomers used an online resource so we didn't actually see a lot of drop-off there okay yeah this is like phenomenally interesting because we know buyers are starting their search online we know that they're addicted to whatever resource that they're using for education but we also know that there's a point there where they can't quite get further than the information that they find and they need to be educated in by a real estate broker so it's really no surprise that when asking buyers like what are the two biggest resources you're using to make the most crucial vital and important decision in your life it's the resource they can find themselves and then the help of a local guide professional I think that's pretty indicative of the result there exactly yep so we wanted to understand if they're accessing online again via a laptop or desktop but also if they had high use of smartphones and we do see an especially high use of smartphone use among those aged 18 to 34 where seventy-eight percent of them actually accessed via mobile and you'll note here that these definitely add up to over a hundred percent and that's because people can go to and use a variety of devices and we definitely see within our qualitative research that people will kind of start and set up their search on a laptop and then one where they're on the go and they're on mobile and commuting then they'll get the little ding and then they'll you know kind of look at it and if they're really interested they'll actually go back to the laptop so there's a lot of changing where we see the tablet use is actually most critical for people who are co shopping and so sharing and it's really easy to kind of look up photos and get really interested in say oh you know honey here take a look at this and what do you think about this type of a home pretty good and I think most folks on a call can probably attest to their consumer being mobile I think that's these are the folks that you see walking into your open houses with the listing kind of pre-loaded on their phone we we do our best to get ahead of the consumer in terms of providing them great mobile applications we have 24 different mobile applications across all of our of our different brands and that's important to us because we want to do wherever the consumer shopping and another statistic that I like to quote sometimes it's just where the consumers are shopping especially moberly so comscore which is like the Nielsen's ratings of television they rate mobile and Internet traffic basically desktop and Internet traffic for the real estate category so when we ask comms go on a monthly basis in the entire real estate category where are the consumer shopping moberly seventy two percent of them are on a villa group apt without Zilla or Julia or one of our other brands so that's a really profound you know mission for us to I are really smart developers to continue developing mobile applications of the consumers have the information on the go and ultimately connect again with one of you but it's no surprise that they're they're using mobile they are mobile it's a mobile revolution so think about that as you're engaging with the Millennials and with other demographics as well I mean that's that that's where the consumers are we wanted to look at across all the different online resources what the average number of resources used is and we do find this it's around four and we of course are excited to see that zillow group the sites of Zillow and Trulia are the most used most often used as well as most favorite so again that really is our our goal internally is to really understand truly what those consumers need and ultimately connect them with the resources that will help them including agents get that home okay this is a the role of an agent take this away yeah this is me right so we again wanted to kind of just bring back around three quarters of age Arab fires use an agent and we do see a little bit of differences in terms of age so we did just want to call that out that the by far and away the group that is significantly most likely to be using an agent is that boomer age group for those between the ages of 55 to 64 we do see a little bit of a drop off with those younger and older Millennials but will kind of get more into that on the next slide so we wanted to understand at what point in their process are these buyers when they reach out to an agent we find that overall around half of them reach out at the very beginning we do see interestingly enough that the boomers are actually significantly more likely oh sorry just jumped ahead boomers are significantly more likely to involve an agent after they started touring their homes and we do see that they're significantly more likely to also be repeat buyers so there's something you know going on there where the first time buyer really does mean that guidance from the very beginning and despite using these real estate agents left often again on the previous slide we saw a little bit of a dip for the Millennials what we're actually finding is these younger buyers tend to rely on them earlier on in the process so it's just interesting to see it looks like it's you know maybe an education piece is missing not true on value that the agent is adding to this younger audience so we wanted to understand as well if they're searching for and trying to find an agent when they're searching for a new home where are they finding these agents so this question was where did you first find or hear about the agents that you ended up working with and we find that twenty-three percent of them found through a referral so friend relative neighbor or colleague but we did see that there's a net of these online resources and that twenty-eight percent actually found or first heard about their agent through either a real estate app or a search engine so can I can i plug online profiles and then need to be online briefly so this is the you know I think what I hear as I travel the country and I talked a lot of our specially premier agents that are advertising and meeting online consumers is that having an online profile getting reviews making sure that your presence is being seen on as many different platforms as possible to the consumer and when that consumer reads about you and gets to know you it's almost as good as a referral and I think the data here is proving that that the referral is still the number one sort of place where the buyer is being directed to an agent but for those that don't have a referral the next best thing that they can do is they can go online and that's sort of what the statistics are saying whether it's a real estate website or an application they're using google to try to find someone locally they might be relocating the mobile consumers looking online trying to evaluate property but they're more and more increasingly are also looking to evaluate real estate professionals that's why we employ a strategy of giving everyone the an online free profile extended from Zillow to truly app for free and it's an ability just to have that presence and showing up in the directory locally I think local is a big hyper the focus is just being that local expert I think we've got some data on that here in a minute as well as with the consumer and the buyers are really looking for as far as expertise locally so I can't stress enough just having that that profile and have making sure that you're you know staying on top of your online presence and the way we look about it just on the data side is just where are these fires going and how can we you know cast that wider net where there going to help increase those chances of being where there they are paying attention and being open to searching for ancient we looked at finding things of the types of people who are significantly more likely to find an agent online we did find that those under the age of 55 as well as virus to be searched on their own so people who did not have a co shopper like a spouse or a family member to help shop with them as well as those who involved an agent at the touring stage or later so not involving an agent right at the very beginning on all of these different groups are significantly more likely to be going online to find their ages so how do the buyers evaluate their agents yeah well we also want to understand how many of them how many are you know truly being evaluated and we see that on average is just over and we realized it's more as you know we realize you're not 2.3 of people but I think the critical thing here is that there is some significant differences when you look at the age group so Millennials are significantly more likely to be evaluating around three agents whereas boomers are significantly less likely so transition may already be on a little bit more meta because they have those referrals they've been a repeat buyer they may be using the same one that they have whereas Millennials they're just starting this there's just starting their life journey of fine homes and they're a little bit more open and they're going to be potentially even a little bit more critical and and trying to figure out who the best agent is to partner with me again not only on this journey but potentially on their future purchasing or selling so we wanted to ask em what different method so this isn't necessarily important but this is what different methods they use to evaluate their agents when they're trying to find one we find that figuring out at the agents market knowledge especially locally is critically the most often used we also see that visiting a brokerage website asking the family or friend about experience with the agent and reading online reviews all these are critically used in terms of you know what different methods they can to they can have to evaluate those agents yeah the number one there about figuring out how to you know the the local market knowledge I think this is so if and think about this from a lead conversion standpoint as well if the consumer associate Millennials reaching out potentially the more than one agent right away because they're evaluating more than one agent and they're getting a quick response and they're getting in touch sooner the sooner you can get back in touch with them the better and then ultimately provide value the value that they're looking for what they're telling us is that they want local market knowledge and I want to plug about section of our website that many of you might not know zillow.com / research if you go to zillow com / research you'll see a section of our website where our team of economists are updating all kinds of local information that you can download as the in terms of PDFs and local market statistics things that you can kind of inter bet intertwined in your listing presentations take you these one cheaters out on your buyer tours things that just kind of reiterate and prove that you are that local market expert and that's again the handoff if you need especially if you need an online consumer the handoff then is can I be your advocate can I provide you value and then ultimately build a relationship and turn them into a client of closing and threatening the referral and that I think that's the goal but really this is this statistic doesn't alarm me at all it makes it more valid that they are hyper local and then they need that local information at local knowledge mm-hmm last piece of information here is just what's significantly more important to those first-time buyers and we see that visiting the website asking family and friends and reading online reviews are all critically more important again this is the first time doing it they're going to Katherine their net and be open to a lot more thing before they make their decision got it and Rosie that website again is zillow.com / research and you'll find a whole bunch of great information and a lot of local information there so the previous one was what different methods they used to evaluate and these are the actual importance of factors so this is saying that by far and away there there are kind of three kind of really critical things that buyers are using in terms of actually evaluating agents and we see that the initial impressions are very crucial and having that local market knowledge so again as Andrew indicated that is one of the key takeaways that we're walking away from this data is that it really is a hyper local market knowledge that can kind of make or break their likelihood to consider I'm using a particular agent we see that this local market knowledge is particularly important in the southwest where eighty-five percent of them says that having that is very important and there of factoring into their decision of whether or not to go with an agent we also see some interesting again with these first-time buyers there everything is more important they're just open to a lot of different things and we see everything in blue is significantly more important where I think of what this is saying is repeat buyers they kind of have their evaluation things kind of more figured out and they're really kind of going to those kind of top-tier evaluation methods again initial impressions as well as figuring out that local market knowledge when they initially contact an agent what are their expectations or what are their preferences and times of communication style we find that phone calls for most of the different age groups are the most important but we do want to call out on the far right meeting in person is critically important to that Silent Generation so that's the only book that we really see in terms of age differences but everywhere else is pretty consistent in terms of their preferences and it does look like it's skews a little bit more towards phone calls we also looked at this across the regions to see if there were any differences here and the only one that really popped to us which if you're in the Midwest tell us what's going on here i'm texting at twenty one percent of them so that they prefer to text in the midwest so again it's things like that where we kind of go okay that's interesting or wonder what's going on there so if anyone has any theories feel free to share that with us I I get a comment from agents a lot that says you know when when I get a new consumer or I get in touch with a brand new person that I don't know very well I like to ask them what method of communication they prefer and that's one way to connect with them as well and if it is often it can be text messaging it can be a very easy way to start off a conversation that is informal and then guide that towards a showing it looks like you know Jen definitely want to meet right away but a lot of these folks when they contact you they kind of want to see a property as and they want the local expert information you can arrange all that via text or email or phone but kind of looking at the different demographics and understanding who your consumer is and what their method their preferred method of communication can really help you establish a relationship faster and this is again the initial contact so it could be that it's slightly different for this initial contact that we're talking about and it could kind of evolved once you have that relationship established so again this is the initial contact and what's their expectation in terms of how quickly they expect an agent to respond based on their initial point of reaching out and we find that a seventy eight percent of buyers expect a response within one day and it's critically most important for a radically enough of Silent Generation so when we kind of went into this piece of research we were thinking well you know it's probably those darn young Millennials that have you know this really fast expectation time and what we found both on the buyer as well as the renter side is that actually see the Boomers and the Silent Generation groups that have a shorter um you know expectation and I think again it's they know what they not want they've got an immediate thing they're much more likely to be going on and involving an agent later on the process so when they have a specific need and that's why they might have a shorter response time in terms of their expectations but we do see that fifty two percent of this silent generation has an expectation of a few hours or less and forty-nine percent of that boomer generation does well if and when you ever decided that online advertising was the right move for you and some of you that are advertising you can probably attest to this but speed two leads pretty crucial I think those statistics are saying 78% want a response within one day many of us have been doing this a while Coast you all that in the in immediate response it's pretty crucial especially if you're going to advertise and connect with that consumer right away in that moment to consider that and but you know it's interesting to look at the different demographics and what they can sort of appreciate in terms of a response and but as far as the advertising and I where I can just echo this from lots agents that to the immediate response is pretty crucial so once they've selected an agent to work with we ask fire what service that an agent provided them was absolutely the most critical to them when they were searching for their new home and we found that taking them on private home tours again that private home tour was absolutely the most critical service that the agent could have confided them followed by the alerting me to new homes so we do know you know a lot of consumers are saving searches on Zillow and Trulia a lot of you once you get in touch with that consumer you then put them into your systems which is great as well to give them updated information and new listings that pop on the market so between the two of them the consumers are basically saying like show me the new houses that are coming as soon as possible and then take me inside of them and that is kind of what buyers are the two most important things not not surprising in any of you but definitely nice to reiterate it and see what the buyers are actually telling us yeah and this is also critically more important for those repeat buyers so again what we're kind of you know theorizing over here is that the repeat buyers they know what they want they've made a decision they know what's most critical for them and helping them both evaluate an agent and also make a decision on a home and that's why they've prioritized them here okay so when we kind of take a step back and look at the kind of key takeaways we really walk away with with three things here and we just want to kind of review them with you again we're really seeing that this buying marketplace is really both a high-tech and a high-tech so it's not that the online resources are replacing an agent if they're using both in conjunction with each other and they each have slightly different needs so we're really seeing that the agent is of course absolutely so critical and so crucial to their buying process it's just slightly evolving and one of the key reasons is because buyers are taking more personal responsibility they have information that they can access easily and they're really using that to cultivate their initial consideration set so you know they're spending all their time getting the maybes and what an agent can do is turn that maybe into a yes or no and really the agents can be involved in those critical stages because it's that active home evaluation piece that's that's really going to help a buyer feel confident and their decision on whether or not to make an offer so again I think earlier we said that one of the most crucial things is an agent's evaluation of the home it's really important taking them on those private home tours helping them with any advice that they need on whether you know should i do an inspection or how should i go about making the software having that local market knowledge all those things combined that's where an agent can provide the most value well said Lauren so when we look at what's absolutely most critical to those buyers and what can connect you with that potential on buyer that's looking to partner with you as the agent they're really looking for that local expertise and that tour facilitation so when evaluating agents they really really really do and again we can't i think we probably said it 15 times so hopefully we made the point it really is crucially about that local market knowledge and having that responsiveness is really key so being able to be prepared whenever they call you have have a you know plan in place for how you're going to respond to them within a few hours or less definitely looks like it pays dividends in terms of making that connection with that potential fire and then again those private home tours and for those really serious buyers are more critical and they do end up taking more of those private home tours than even the open houses and then lastly just kind of be sensitive and be aware of the different trends that we have we've had a reviewed some regional data here we've reviewed some aged things and we've also reviewed first time versus repeat buyers so just knowing a couple of key things and being able to act on that to try and kind of meet their needs is really seen as really kind of helping because you're getting to know them at a moron deep level so we see that first-time buyers again while they tend to use agents less often at least currently they're actually relying on them more and they're involving them earlier in the process so again figuring out a way to just you know educate the first time buyer that younger buyer on what the agent can specifically provide in terms of that true home evaluation looks like that you know potentially the missing piece with some of those young buyers and first-time buyers again they're placing high priority in all different methods of home evaluation except inspections and floor plans and inspections and polar plants are more critical to refire repeat buyers so again it looks like repeat buyers really are a little bit more knowledgeable about what they what they need in terms of actually knowing what to you know we're gonna make an offer or not but that first time buyer really needs a lot of guidance and support from agents awesome Lauren thank you thank you for setting a buyer on behalf of our listeners and our agents who are trying to connect with the home buyers more often Milagro here saying where are these buyers ! i want i want all of them and michael is asking you know it's really important to showcase your reviews and pat sales and he totally agrees how can we can't review or haven't we can showcase your sale on both ends when you represent both the buyer and the seller for the same property it's not a function is built into the pass/fail right now we've heard that feedback a lot honestly Michael and we're figuring out a way to make that a little bit more easy but for the time being stay tuned I would love I would love things chase for to these that was great nice work I love any more of your feedback and/or questions right now if you have any questions for Lauren feel free to ask I also want to make mention of where you can download this report I think like maybe 10 of you have asked over the course of the webinar is this recorded and how can I get the slides and some more of this data so let me explain to you a couple things one is especially those of you that joined later during the call we will have a recording of this and to you in about an hour so you'll get a full recording and you can go back and listen to if you want a hard copy of some of the statistics built into a report you can go right to the homepage of our Resource Center and I'll just guide you there right now it's ww.com / agent resources that's all you actually have to type into your browser just calm / agent desk resources our marketing team has actually put this report now on the homepage it just went live on that homepage like within about an hour and it and so feel free to download the report and it'll have a lot of the data a lot of statistics that we just covered for you you can print it you can download as a PDF and you can refer back to it and again you can refer back to the recording this webinar as well so we want to make sure you have that report and I will repeat the URL it's ww.com or co com I don't know if anyone owns wwe.com zillow com / agent dash resources and then it'll be right on the on the homepage John Peters nice job good glad to have the focus on quantifiable information good team coverage so that's that's helpful feedback and if you have any other feedback you can always email zillow group webinars at zillow com or my personal email Andrew a chat zillow com so we really connect with us and we love to help you out whatever was there anything out a survey after again it you know we really are focused on the insights team to really understand you know our buyers and our sellers and our homeowners and then really feed those insights back and we we were making a concerted effort to continue to be more transparent to share the knowledge to ultimately help you connect with those buyers so if you have any questions feel free to kind of fill out that survey let us know what you think and also get some suggestions for future webinars and Rosie we look forward to seeing you in Vegas as well she says excellent information see you in Vegas to all the premier agents on the call if you haven't received your premier agent forum invitation email me Andrew H zillow com we sent out an invitation to register for our vegas forum it's october 26 to the 28th it's the best event of the year I can't cancel it enough so if you do re if you're interested let me know and I can connect you with the right people to get you registered and with that one thank you again for taking the time out of your day and thank you for all the folks on the phone for hanging with us too we really appreciate knowing that this is as important to you guys as it is tough wonderful with that we will conclude have a great rest year to everybody thanks hi

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