As the residential real estate realm has evolved over the past few years, so too have buyers. The simplicity of a transaction from a generation ago is virtually gone, due in great part to technology, new legalities and the constantly changing wants and desires of those seeking homeownership.
Agents today must be ready to find and sometimes even create the circumstances that lead to closings. As such, they must also be prepared for questions and must-haves that likely rarely or never came up even just a few short years ago.
“Today’s conversations are sharper, more sophisticated and far more cautious than in years past,” says Josh Jarboe, broker/owner of REMAX Empire Buyers in Kentucky. “Buyers aren’t just making a move, they’re weighing how every decision impacts both their lifestyle and long-term investment. I welcome these questions because it gives me the chance to educate and advise, which is the core of what I do. In many ways, this market has created a clear separation where the true professionals are the ones rising to the top.
“Buyers are asking things today that would’ve been almost unthinkable three years ago. Here are a few examples.”
Rate buydowns and creative financing. “Buyers now ask, ‘Can the seller buy down my rate?’ Three years ago, that level of financial creativity wasn’t part of the average conversation. It was more about how much additional cash they have on hand to make up any appraisal gaps.”
Resale value vs. lifestyle fit. “More buyers want to know how their purchase will hold up in value if they need to move in three to five years, showing how cautious and investment-minded today’s buyers have become.”
Remote work flexibility. “Instead of asking about commute times, buyers now ask if a home can accommodate dual offices, soundproofing or even high-speed internet reliability, directly tied to work-from-home trends.”
Various agents and brokers around the country each had their own tales of wants, needs and questions they’re hearing from clients that they had either never or rarely heard before. Donna Deaton, of REMAX Victory + Affiliates in Cincinnati, Ohio, offered a quirky one.
“The number one question that I have had lately, and it’s one that I was never asked in the 20-plus years of being licensed, is whether there is a dog park in the community or one nearby. The number two question is how is the cellular or internet service, since they work from home. Then, what are the utilities or does the home have geothermal, and if not, what would be the cost to convert. Finally, does the home come with an EV charger?”
Broker William Yau of New York’s Coldwell Banker Warburg said buyers today are asking if mortgage rates start rising again, can they walk away from the deal if it’s already in contract.
“This is being asked mainly due to affordability and comfort in purchasing a home,” he says. “With carrying costs in many (co-op) buildings increasing, or upcoming assessments, buyers wanted their monthlies to stay within a certain threshold.”
While mortgage rates have recently eased, they’ve been higher than most buyers wanted over the last few years, leading Yau to sometimes be asked things he hadn’t in the past. “Like ‘can the seller assign their mortgage rate to me?’” he says. “This is likely due to social media misinformation. Since many homeowners refinanced during the pandemic, buyers assumed they could inherit the seller’s rate. But it’s not true due to the many loan terms prohibiting it.
“Now I’m asked if the seller will pay their commission. With the NAR lawsuit, buyers can be confused that the seller will not offer to compensate a buyer’s agent. Clearly, we know it is all a negotiation.”
Another Warburg agent, Evita LaSasso, admits that some buyers are now asking for unreasonable discounts from sellers even though the price already reflects the condition of the house.
“Higher interest rates have squeezed affordability, so buyers feel more leverage to push for additional discounts even when pricing is already adjusted,” she says. “They’ll say something like, ‘I know the price reflects the condition, but with rates so high, can’t we still try for 20% off?’
“Some want to have an inspection even before making an offer, because with buyers more cautious in a slower market, they want to identify risks upfront rather than competing quickly like they often did during the pandemic boom. They’ll say, ‘Before I even make an offer, can I bring in an inspector to check things out so I don’t waste time?’”
LaSasso points to another question that never came up before all the legal cases overwhelmed the real estate industry, combined with technology’s game-changing effects.
“Buyers don’t want to commit to one agent immediately,” she says. “Today, with information and listings widely accessible online, they feel less dependent on a single agent until trust is earned. They ask, ‘Why should I sign an exclusive with you right away? I don’t know you yet and need a chance to think before committing.’”
Todd Luong, with REMAX DFW Associates in Frisco, Texas, says there are several questions he gets now much more than he did in the past.
“I have been in this business for 18-plus years and clients have always asked questions, but these are ones I’m getting more now,” he explains. “First-time buyers want to know if there are any special programs available for first-timers because of rising affordability concerns in recent years. Then they ask if they should buy or rent because of all the negative real estate news in the last couple of years, which is making buyers more cautious.”
Finally, Robert Little, with REMAX Advantage in Las Vegas, states that one question he hears constantly is the same one he’s heard forever.
“With elevated rates, buyers are asking about timing, whether they should wait for rates to come down or for the ‘perfect’ home to hit the market. I remind them that there’s rarely a truly perfect home, and if a property checks most of their needs, it’s a strong win.
“I also emphasize that markets are cyclical. If rates do decline, competition will heat up, inventory will shrink and buyers may lose the ability to negotiate. In contrast, today’s more balanced market gives them time to make thoughtful decisions and often negotiate better terms. That’s a big shift from two to three years ago, when buyers felt immense pressure in a frenzied seller’s market, and many walked away feeling like they settled.”
Watch for a follow-up story soon, this time focusing on seller wants, needs and questions you may not have heard before.
