By Lolly Spindler

In business, knowing your market means knowing how to advertise to, engage, and ultimately sell to an audience. As a Realtor, you’re not only selling real estate, you’re selling yourself, which is why it’s even more important to know and engage prospective clients. In this multiple choice, 10 question quiz, you’ll be tested on how well you know your buyers: who they are and what they’re looking for.

know your buyers

How well do you know your stuff?

Question 1: In the current market, what percentage of buyers are first time home buyers?

  1. 20%
  2. 30%
  3. 40%
  4. 50%

Question 2: What is the average age of the single male home buyer?

  1. 35
  2. 40
  3. 45
  4. 50

Question 3: What pool of buyers best signals a housing market recovery?

  1. Trade up buyers
  2. First time home buyers
  3. Investors
  4. Trade down buyers

Question 4: What percentage of the market do unmarried couples comprise?

  1. 5%
  2. 7%
  3. 10%
  4. 13%

Question 5: What percentage of home buyers start their home searches online?

  1. 80%
  2. 88%
  3. 90%
  4. 92%

Question 6: What’s the average home size for a married couple?

  1. 2,000 sq. ft.
  2. 2,100 sq. ft.
  3. 2,500 sq. ft.
  4. 2,700 sq. ft.

Question 7: What’s the median income of the average single female buyer?

  1. $45,100
  2. $48,000
  3. $50,200
  4. $55,400

Question 8: Where are single males, single females, married, and unmarried couples all more likely to buy?

  1. Urban area
  2. Suburban area
  3. Rural area
  4. Coastal area

Question 9: What percentage of renters plan to purchase a home in the next one to two years?

  1. 42%
  2. 44%
  3. 46%
  4. 48%

Question 10: What percentage of millennial home buyers say that a convenient commute is a top factor when choosing a neighborhood?

  1. 62%
  2. 72%
  3. 82%
  4. 92%

So, how do you think you fared? Click here to check your answers and learn some additional home buyer insights.

 

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