Mar 29

Service Members Prefer Real Estate Pros With Military Expertise

Service Members Prefer Real Estate Pros With Military Expertise

 

Buyers and sellers in the military have unique needs, and that may be why they prefer to work with a real estate professional who is more familiar with the issues service members face as they make housing decisions. Ninety-seven percent of active-duty service members and their spouses say it’s important to work with real estate professionals who have expertise working with active-duty military families, according to a new study from Realogy.

Ninety-three percent of survey respondents say the pandemic has made a permanent change of station even more challenging than it had been. Some of their top challenges relate to the time constraints in finding a new home, the logistics of the move, and deployments while adjusting to a new location.

Eighty-three percent of active-duty service members and their families reported not getting enough relocation assistance from the military. As such, they’re turning to real estate pros for guidance.

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Nearly half of the 250 survey respondents said they expected to relocate this year. They’re feeling bullish about homeownership, too: Over half—or 55%—of active-duty service members and spouses say they are more confident that they will be able to buy a home this year.

The 2021 Veteran Homebuyer Report, produced by Veterans United Home Loans based on a survey of about 1,000 vets, reported that 58% of vets say they plan to buy a home within the next five years. That could amount to 11.3 million potential veteran buyers, the report notes.

They’re appreciating digital tools for home buying: For example, the increase in virtual tours has proven useful for military members who must shop for homes remotely. Eighty-nine percent of active-duty service members and their spouses say they’ve chosen a new home without personally stepping inside it.

Realogy’s survey coincided with its announcement of a newly created Realogy Military Rewards with PCSgrades, a ratings and review platform created for military and veteran families to support relocations. Its new home buying and selling program pairs military and veteran families with experienced real estate professionals in working with service members from a Realogy brand, which includes Coldwell Banker, Century 21, among others. Realogy says the move is part of its commitment to increasing the number of military and veteran home buyers.

Source:
Realogy Military Rewards
©National Association of REALTORS®
Reprinted with permission

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