Listing agents: Here’s what you need to know for 2020 listing descriptions
Are you keeping up with the market? If your 2020 listing descriptions aren't reeling in enough buyers, here are some things you need to know.
In one of the local Facebook groups that I belong to, an agent posted six photos of one of her listings. There were four photos of the kitchen, one of the bathroom and one of the living room.
Two out of the three responses to her post asked for photos of the yard:
Do a cursory look through your MLS listings and the chances are pretty good that there are few listings with photos of the home’s backyard or patio.
And the chances are equally as good that many viewers are frustrated by the lack of attention paid to a very important feature for today’s homebuyers.
Let’s catch up on what else you can add to your 2020 listing descriptions will make the 2020 homebuyer’s heart throb.
Every year, the share of the buyer pool is dominated by millennials. If you specialize in first-time buyers, or hope to, this is the group to target.
Aside from the desire to live in suburbs with quick commutes to work, to buy a home near good schools and handy to shopping, millennials want room for their pets.
Yup, we’re talking a backyard here; or at least a patio.
Nearly 80 percent of millennial homebuyers own at least one pet, according to a Better Homes & Gardens survey, so it’s only natural that space for the four-legged family member is high on the wish list.
“Four-fifths of Millennials see a patio as desirable or essential in a home.” It’s their third most-wanted feature, according to the aforementioned survey.
What they crave most of all, however, is a laundry room. When was the last time one of your listings included photos of the laundry room?
And while you waste space in your 2020 listing descriptions on stainless steel appliances and granite countertops, Millennials are madly searching your listing description for mentions of a double sink, central island and walk-in pantry in the kitchen.
If your listing includes a trash compactor, wet bar or built-in kitchen seating, highlight those as well.
Agents can’t go wrong when they work with members of Generation X. They often have a home to sell before they buy, they’re more real estate-savvy and they have more money than millennials so they buy more expensive homes.
Since nearly 80 percent of this cohort owns pets, it’s not at all surprising that a yard is on their home shopping wish list. In fact, it’s so important to Gen X (and baby boomer homebuyers) that they would accept a smaller house if it meant having a bigger yard for Spot.
Although outdoor space is high on Gen X homebuyers’ wish lists, it doesn’t top it. Number one, according to the Better Homes & Gardens survey, is a state-of-the-art kitchen.
When purchasing a new home, the National Association of Homebuilders (NAHB) found that 70 percent of Gen X buyers dream of a whirlpool tub in the master bathroom and a theater/media room in which to indulge their Netflix binges.
While millennials overwhelmingly claim that they want their new home to be Instagram-worthy (“attractive enough for social media” is the way they put it), Gen Xers prefer practicality over pretention.
Nearly half want their home to be all on one level and contain no wasted space, such as a two-story foyer or a formal dining room.
As mentioned earlier, a backyard or patio is important to both Millennials and baby boomers. While 68 percent of the latter report owning pets, many want the space to putter in the garden or entertain as well.
But what will really attract their attention is mention of a laundry room. The NAHB found that 94 percent want a dedicated space for laundry. Then, if boomers are your target buyer for your listing and it has energy efficient windows and appliances, let the world know.
Finally, despite the desire to ditch the McMansion in their downsizing efforts, third on their 2020 wish list is a 3-car garage.
Stuck for 2020 listing descriptions and other marketing fodder? Highlight any of the following to appeal to all three generations:
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