Home buyers in the UK, are spending less than 20 minutes looking at a home before putting in an offer according to new research.
Zoopla used eye-tracking technology to get a better understanding of the habits of 2000 British homebuyers who visit a property.
The experiment found that 20 per cent of home buyers spend less than 20 minutes viewing a home before putting an offer in – with some rooms getting less than one minute of inspection time.
Cellars, roofs and attics are the most overlooked rooms, despite being the root causes of many problems in the house.
Home buyers also spend more time looking at things like furniture and technology that will likely be removed after the sale rather than looking at the basement, checking the water pressure or inspecting damage.
The trial indicated that homebuyers spent just 34 seconds looking at a bedroom, and just 1.2 minutes in the kitchen.
Based on the median home price in the UK, if home buyers spend just 20 minutes inspecting a property, that equates to “a £13,280-a-minute decision”.
Steve Carroll from Digital Live said that he’s not surprised how fast buyers make decisions these days, because of the information they have access to.
“The amount of research done by consumers, buyers, and sellers today before choosing an agent or deciding to buy is immense,” Mr Carroll said.
“The colossal amount of data and information available has fundamentally changed the way people approach these decisions.
“This information is brilliantly accessible and easy to obtain, which has transformed how consumers go about things.”
He said buyers today are interested in what they’re about to spend a significant amount of money on.
“Visiting the property has become the final step in a lengthy research process, most of which is done online,” he said.
“That’s the beauty of living in a digital age.”
Overall, trial participants were least interested in flooring, the roof and the ceiling.
They also spent less than half a second looking at the homes heating system.
While 25 per cent of participants admitted snooping on family photos on show.
Consumer Expert at Zoopla, Daniel Copley, said while the experiment was eye-opening, the data was also important for sellers and agents.
“It has been fascinating to use cutting-edge technology to investigate the behavioural habits of buyers, so that we can equip them and sellers with the information they need to make confident decisions when buying and selling a property,” Mr Copley said.
“For agents, the experiment provides insights for them on what their clients are really looking at when viewing a property.”
