Industry NewsNews Brief

Homebuilders, Realtors finally playing from the same page

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

In my more than 30 years in the business, I have never been more hopeful for the future of real estate services and the housing industry than I am today. My reasons are not tied to the improving housing market. They are tied to tension-breaking actions by homebuilders, and market studies showing homebuilders' commitment to work with real estate agents. A recent market study by Builder Homesite Inc. (BHI) concluded that "shoppers are reluctant to navigate the homebuying process on their own and intend to work with a Realtor. The vast majority (84 percent) intend to use a Realtor (when shopping for both new homes and resales), recognizing the many areas in which they provide assistance." BHI is a consortium of 32 of the largest production builders in America. The study surveyed 984 potential buyers or shoppers, most of whom expected to spend $150,000 to $500,000 for a resale or a new home. To the question, "Why do you intend to use a Realtor?" respondents gave th...