Adding a Neighborhood Data API to your website can instantly make you an expert in whatever niche of the home buying population you choose.
For example – single women.
Keeping an eye on market trends over the years helps us fine-tune our businesses, attract more clients and provide them with the best service for their needs.
That’s why brokers and agents should be aware of this important statistic: in 2017, single women represented 18% of real estate buyers.
Contrast that with the 7% of unattached men who bought houses during that time, and you can see a change in the market that will be interesting to watch.
In fact, the number of single women buying homes has been rising for some time, indicating a significant and solid trend.
In the 1980s, they represented just 11% of home buyers. Now, as many young people are marrying later, single women are moving closer to 20% of the marketplace.
That’s a trend a savvy agent will pay attention to. And with a Neighborhood Data API from national data aggregators such as Home Junction, that agent can display a wealth of information on their own website that they can tailor specifically for this market.
Let’s discuss how using hyper-local data can increase your client satisfaction rates among this fast-growing segment. And we’re not just talking about data for a county or even a zip code, but data for any neighborhood a buyer might be considering.
Neighborhood Data API can generate info specific to any market
Why are single women buying more houses?
There are many reasons why this number is growing. Most obviously, single women now have more opportunities, more buying power, and more earning potential than they did a few decades ago.
The average age of marriage and childbearing is getting higher by the year as women pursue their potential in industries such as finance, technology, and yes – real estate – among others.
Many more women are now making six figures on their own and are naturally ready to take the next step by investing in home ownership.
A large segment of these single female home buyers are women in their 60s who have experienced success and are ready to take make a decision on where they will spend the rest of their lives.
They may be retiring and choosing a more desirable location to live out their years; downsizing after the death of a spouse; or making a new start after a divorce.
Don’t just assume only older single women are out there buying property. Younger single mothers are also choosing to buy as a means to provide more safety and security to their children. In 2017, 53% of unmarried parents were single mothers.
How to address the concerns of female home buyers
In order to best serve any niche client, you need to really dig in to their specific thoughts, needs and desires that are particular to them.
For example a young single mom may be interested in a friendly, close-knit community with low crime rates, in the interest of safety for her children.
She may want to know that there are grocery stores, playgrounds, pools, ballfields and emergency rooms close by. You can supply all that information with a Neighorhood Data API that can easily be integrated into a Realtor’s website and tied into the local MLS database.
And of course, good schools are going to be paramount for a single parent looking to move to a new area. By adding a School Data API from aggregators such as Home Junction, an agent will have a wealth of school information that will impress any mom.
That information not only includes student/teacher ratios, but those all-important school attendance zones that will determine which school a child will attend.
An agent can add Home Junction’s Geocode API to display neighborhood amenties such as retail areas, gyms, hospitals, parks, and other locations on a map that would be desirable to this demographic.
A retired woman may be interested in features such as community centers, shopping, yoga and fitness studios, and churches. You can point out all those amenities on a map or chart and show the distance from any property a person might be interested in.
Lower maintenance accommodations, such as condominiums, can be very appealing to busy women who don’t have the time, desire, or ability to perform home upkeep, yardwork and renovations.
However, this should never be assumed. So talk with each client as an individual to find out what her specific needs are – there is a definite stigma on single female home buyers, so it’s important not to go into discussions with preconceived notions about their ability to afford and maintain a home.
Answer concerns about crime rates
Crime rates are one of the biggest concerns for the majority of single female home buyers. Some women on their own have chosen to go the apartment or condominium route due to the extra security features of neighbors, cameras, and guards. Any Neighborhood Data API should definitely include a Crime Rating feature.
While owning a home is empowering, a single woman also wants to be able to feel safe as she comes and goes in her neighborhood. This factor is increased when children are involved.
By adding a in-depth, detailed Neighborhood Data API on your real estate website with current and accurate data feeds, you are giving this powerful and upcoming segment of female buyers the extensive information they need to make decisions.
When a client is able to find out where to view a home within her budget, and schools for her children combined with other desirable amenities – right on your website – this instills a more powerful confidence in your ability to connect with her and what she’s looking for.
The use of this technology doesn’t just apply to single women either. You can also address the particular needs of retired buyers, relocations, young families, etc.
As we all know, today’s population of home buyers is extremely diverse. But in this high-tech era, each segment will want to see how a broker or agent will address their specific needs.
Rather than wing it, add a Neighborhood Data API to your website with an incredible array of solid statistics and facts to demonstrate how you truly are the expert when it comes to their particular niche.