Quick, what is one of the best predictors that someone is ready to buy a home:
A. They just got a promotion.
B. They just got engaged.
C. Their family got bigger (they had another child).
D. Their best friend (or sibling or colleague) just bought a home.
Answer: all of the above, but especially “D.”
It’s common knowledge that one sale on a block can trigger others; when a neighbor who bought 30 (or more) years ago decides to sell, it can “just feel right” for others to move on, as well.
I’ve seen the same phenomenon apply to Buyers, especially first-time Buyers.
It’s as though — once a peer has taken the plunge — it’s less scary for others to follow suit.
Of course, given that people are competitive, sometimes the motivation is not being left behind.
Buying in tandem with peers has a practical benefit, too.
Namely, those following behind can share notes and learn from the recent experience of their friends or siblings (like, which Realtor to use — or avoid, as the case may be).
It’s also simply the case that it’s more fun to share watershed events like buying a first home than go through them solo.
One of my favorite referrals — and one of the most common — is from a Buyer I’ve just represented, who’s now encouraging someone else from their circle to do likewise.