Report: How to better serve single, female homebuyers

Today’s homebuyers are 19% of single women compared to 9% of single men. These women are eager to buy a home and don’t need to wait to get married. They also want to improve their quality life.
There are a few things that you can do as a realty agent to help single women prepare for the homebuying process. Kristin Messerli’s NextGen and National MI report shows that women are often worried about financial stability, high living costs, and financial knowledge.
Financial education
Be prepared to help your female clients make informed financial decisions. These could be online courses, books, or video tutorials that provide a women-focused breakdown on personal finance.
A home purchase is a major investment. Every buyer should feel confident about their ability to purchase a home and be able to understand the mortgage lending process as well as the expenses that will come during the first year. Only 58% of men said they felt confident in their financial knowledge, while 47% of women said they felt they had the right financial advice. You could be that support channel and advice channel as an agent.
According to NextGen and National MI reports, men are three times as likely to invest their money in stocks than women. This trend is evident in both male and female home-buying attitudes. Men are more likely to rent out their property or have roommates to make income from it.
Trust the process
Women were more distrustful of professionals in the housing industry than men. Your female clients will be less anxious if you take the time to explain each step. Particularly if they are first-time homebuyers there may be many steps that they don’t know about.
40% of women said they didn’t know where to begin the process of purchasing a home.
Add information to your website and social media that clearly explains each step of the process. If you provide resources and guides to homebuyers upfront, you can earn more business from them.
Only 75% of women trust their real estate agents, compared to 75% in the past. Your clients will appreciate you going the extra mile to build trust.
The report stated that “Millennial and Gen Z women are especially loyal and vocal about brands and people they trust, who align their values, and who provide exceptional customer service.”
This characteristic can be used by agents to increase your business. Single women homebuyers will be raving about you and may recommend your business to their friends. Single women are the second largest group of homebuyers today and agents must recognize their unique needs.