Prospective buyers want to know the most information possible about a community that they are planning to buy in. When it comes to neighbourhood demographics, this means far more than just those things in the area that a buyer would be interested in like schools, grocery stores, proximity to transportation, etc.
Buyers also want to know about who lives in their community.
- What are the age ranges?
- What about job categories – blue collar vs. white collar?
- What about cultural make-up?
- Family composition is huge – is the area primarily young families?
- Is there a high number of families in the community that speak other languages?
This information is highly relevant to individuals who are buying a property and choosing a neighbourhood to live in. People want to live in communities that are populated with people like them. Young families want their kids to live in a community where there are lots of families with children for their kids to play with, while older couples may not be as interested in living in this type of community. In a country that has a massive immigrant population and many newcomers to Canada, knowing if other families of the same culture are predominant in a particular area can have a huge influence over their decision to buy.
How about investors?
- They will be very interested in the types of professionals who live in a community
- Renters vs homeowners
- Rental ranges, etc.
This kind of information is quickly accessible and shows your client that you are a seasoned expert who is able to tell them everything they need to know about a community they are considering buying in.
In 2013, BMO released survey results that highlighted the top 7 things that customers indicated are most important to them in a community they live in:
- Safe neighbourhoods
- Quiet street
- Good neighbours
- Short commute to work
- Near family and friends
- Near stores and restaurants
- Near public transit
We thought it would be worth including it in this article as it is still quite relevant. Check it out in full here: https://www.theredpin.com/blog/canadians-list-priorities-when-buying-a-home-bmo-bank-of-montreal-survey/.
Accessing neighbourhood demographics information also enables you to increase your coverage in terms of areas that you can serve. Many real estate sales professionals focus on key neighbourhoods that they have experience working in and that they know a lot about. Neighbourhood demographics tools enable you to be the expert in more areas than just the ones you know personally because now you can quickly access the information your client is interested in. This means, when a client wants to sell their home but buy in another area, you can feel confident serving them.
For more information about how you can access neighbourhood demographics information please visit the NEW GeoWarehouse at www.geowarehouse.ca today.