As a leading real estate brokerage in Arizona, Tru Realty has a responsibility to our clients and our realtors to stay on top of trends in the dynamic Phoenix real estate market. As head of Tru Realty’s real estate agent training program, I like to share these trends as part of a realtor’s development in order to create a more informed, well-rounded, and authoritative real estate agent.
A trend that I’ve seen become more prominent in the Phoenix real estate market is the desire for buyers to “get a deal” as opposed to finding a home that may be perfect for their life path.
Let me clarify what I mean by that.
The Phoenix Home Buying Criteria
In years past it was more prevalent that an individual, couple, or family would decide it’s time to purchase a home and then establish criteria for that home that involved a multitude of factors. Typically, they would evaluate the home based on its location, size, school district and other desired amenities. These home buyers were more often swayed by emotions or the “feeling” they got when they first were introduced to the home of their dreams.
Today, we are finding a significant trend towards “deals” as being the preeminent factor when buying a home. Individuals, couples, and families are prioritizing a positive financial deal over other reasons when making their home buying decision. It’s an interesting but understandable trend in real estate. The money you can make in real estate is significant. In some areas, homes that sold for $300,000 three years ago are now being sold for upwards of $500,000. People are seeing real estate more for the financial impact it may have over other, more traditional purposes.
This trend has lead to more buyers keeping their feelers out during the inspection period and asking questions that are related to equity, resale, and future development in a given area.
It is our job as realtors to understand the “Tru” goal of someone buying a home in Phoenix. Regardless of their goals, we as real estate agents need to guide our buyers to a home that meets, or better yet, exceeds the goals they have set. Conversely, having a working knowledge of trends in the Phoenix real estate market helps us to provide superior service to our listing clients.
Asher Cohen is a licensed Realtor and Director of Sales at Tru Realty. He specializes in residential real estate in the greater Phoenix area. Asher and his team are committed to professional, reliable, and knowledgeable service to all of their clients—from first time home buyers to seasoned investors. He’s experienced in all facets of the market and takes great pride in listening to his clients’ needs to provide the best possible service.