Colorado buyers favor bigger, multi-generational homes during COVID-19 pandemic

The coronavirus pandemic pushed buyers toward larger and more expensive homes in the suburbs, as they try to accommodate more people under one roof, according to the 2020 Profile of Home Buyers and Sellers, an annual report released Wednesday by the National Association of Realtors.

“Buyers sought housing with more rooms, more square footage and more yard space, as they may have desired a home office or home gym,” said Jessica Lautz, vice president of demographics and behavioral insights at NAR, in comments accompanying the report.

Larger homes can better accommodate adult children, as well as elderly parents, moving in, she said. Before the pandemic, multigenerational home purchases represented about 11% of sales, but that went up to 15% in the months since March.

“Multi-generational homes are absolutely a local trend in Denver, but it’s much harder to find these homes because they are often far outside the average price

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Five Keys To Transforming Real Estate In Favor Of The Customer

CEO of Scout Realty; focused on clients, not commissions.

Disruptive technology has impacted the business of real estate significantly. However, not all customers are ready for a full VR experience when choosing something as financially significant and personal as their home. I believe that there will always be a need for and value from agents, but how does that traditional role function within the modern brokerage? The short answer is that it doesn’t.

Your future is not meant to be an extension of your past. It takes courage to risk, sacrifice and disrupt your own business to better serve the customer. But I’ve built my firm on the belief that client-centric brokerages are the future of the residential real estate industry, and I can tell you that this mindset shift is worth it.

This means creating a business environment where the client’s best interest is at the center

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