{"id":1668,"date":"2017-03-07T00:00:00","date_gmt":"2017-03-07T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/study-social-networks-influence-home-buyers\/"},"modified":"2017-03-07T00:00:00","modified_gmt":"2017-03-07T00:00:00","slug":"study-social-networks-influence-home-buyers","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/study-social-networks-influence-home-buyers\/","title":{"rendered":"Study: Social Networks Influence Home Buyers"},"content":{"rendered":"

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Social networks can carry a lot of weight in people\u2019s lives, even having an impact on their real estate<\/a> decisions. In a recent REALTOR\u00ae University Speaker Series presentation, Dr. Johannes Stroebel presented research about the influence of social networks on buyers\u2019 home purchase<\/a> decisions.\u00a0<\/p>\n

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Read more<\/strong>: How to Rock Social Media the Subtle Way<\/span><\/p>\n<\/blockquote>\n

Housing<\/a> investment is a regular topic of discussion on Americans\u2019 social networks. About half of the respondents in the study had discussed\u2014either sometimes or often\u2014whether buying a house<\/a> was a good investment.\u00a0<\/p>\n

The study found that a positive home price<\/a> experience of an individual\u2019s social network who resided in other geographic areas had an impact, such as increasing the chance of the individual becoming a home owner, increasing the size of property the individual purchased, and even increasing the individual\u2019s purchase price, according to Stroebel, an associate professor of finance at New York University Stern School of Business.<\/p>\n

Stroebel says that an individual whose social network lives in geographic areas where prices are rising were more likely to purchase a home than an individual who has a social network who was experiencing greater price variability, like some increasing and some decreasing.\u00a0<\/p>\n

\u201cREALTORS\u00ae are increasingly using social media and this active social media presence can potentially create business opportunities, as individuals become more aware of housing trends in their areas and discuss these trends with their social network friends,\u201d according to NAR\u2019s Economists\u2019 Outlook blog, detailing Stroebel\u2019s presentation.<\/p>\n

View the full study.<\/p>\n