Prudential Real Estate '11 Consumer Market Assessment
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Transcript of Prudential Real Estate '11 Consumer Market Assessment
Prudential Real Estate2011 CONSUMER MARKET ASSESSMENT
Survey Period: January 20 – 27, 2011
Respondent Breakdown:• 500 Recent Transactors – Bought/Sold home within the last year• 500 Likely Transactors – Likely to Buy/Sell home within year• 253 Contemplators – Considered Buying/Selling within last year
but didn’t
Demographics of Respondents:• Respondents 25 – 64 years of age• Household income of at least $50,000
Optimism about the market is guarded
House-hunters recognize a good opportunity
Americans striving to move-up is a driving force
Challenges of a complex market inhibit actions
Emotions run high with the thought of selling
In reality, very few show seller’s remorse
The greatest challenges of selling . . .
Consumers are humbled by market conditions
Despite guidance of agents, many stick to their guns
Rational philosophy of pricing often becomes clouded by emotion and doubts
Sellers may need to be carefully coached to be more realistic about pricing strategy
Real estate agents seen as ‘helpful’; today’s market presents prime opportunity to prove ‘vital’