With $7 trillion in spending power, women are a force to be reckoned with. Find out more about them and how you can help them find the home of their dreams.
When searching for homes as a couple, women make 91% of the home-buying decisions. And in recent years, more single women have been opting for a mortgage over a marriage. In fact, today, more than one in five home buyers is a single woman. Whether they’re married or single, there’s no disputing the fact that women are a powerful force in the marketplace and valuable to your real estate business.
When looking for a home, they do research, and lots of it. They scour the internet to research homes and communities, talk to friends, look at photos and read data. They place a high value on home ownership even if they have to make financial sacrifices to get there.
What do they look for in a home?
Women look for a bright warm interior, an open floor plan, a bigger bedroom and kitchen, plenty of storage space, mudrooms, luxurious finishes and details and a backyard. They look at things like how safe the neighborhood is, how close the home is to shopping, fitness centers, family or friends. They want a home that’s low maintenance and enjoy socializing with their neighbors.
How can you appeal to them?
They want to know that you care about them and are listening to them. Get to know their likes and dislikes, interests and lifestyle so you can choose homes that fit them perfectly. Details matter. Highlight the small conveniences of a home and how they can help improve their lives. Women want to know how a home feels or whether the floor plan flows well for entertaining. And of course, give them world-class service and they will tell their friends and family about you.
Where can you reach them?
Social media sites like Facebook, Pinterest and Twitter are great places to reach them, as well as Houzz and home-related blogs. And because these women are working and on the go, radio is also an effective medium. They react well to videos, testimonials from recent buyers, livability surveys and newsletters that detail community activities/features.
The next time you work with women home buyers try to keep these things in mind. And when selling them an American Home Shield® Home Warranty, let them know that AHS® has received the Women’s Choice Award for three years in a row and was named the most recommended home warranty provider by thousands of women across America.