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Back to School Survey Finds School Boundaries Play Major Role in Home Buying Decisions

August 5, 2013  |  by RISMedia

Realtor.com® recently announced the results of its Back to School survey that analyzed how much impact school boundaries have on buyers looking to purchase a home within two years. The survey found that 3 out of 5 home buyers surveyed said school boundaries will impact their home purchasing decision.

Key Survey Findings:
A majority of home buyers who said school boundaries will have an impact are willing to pay 1 percent to 10 percent above budget to live within school boundaries:

  • 23.59 percent would pay 1 percent to 5 percent above budget
  • 20.70 percent would pay 6 percent to 10 percent above budget
  • 8.98 percent would pay 11 percent to 20 percent above budget
  • 40.33 percent would not go above budget

For those home buyers who said school boundaries will have an impact on their decision, the majority indicated school boundaries will be an important consideration:

  • 90.53 percent said school boundaries are  "important" and "somewhat important"
  • 2.04 percent were "neutral" around importance of school boundaries
  • 7.43 percent said school boundaries are "unimportant" and "very unimportant"

Home buyers who said school boundaries will have an impact on their decision also indicated that they would give up several amenities to live within school boundaries of choice:

  • 62.39 percent would do without a pool or spa
  • 50.60 percent would give up accessibility to shopping
  • 43.96 percent would pass on a bonus room
  • 41.99 percent would offer up nearby parks and trails

Home buyers indicated that they would like to be within a certain distance of school boundaries:

  • 45.19 percent want to live within school boundaries
  • 33.67 percent want to live within a few miles so their children can ride the school bus
  • 17.20 percent want to live within a mile so their children can walk to school

mrisTV.com has a couple of tutorials to help you use School Boundaries in your Matrix searches. Click here to learn how to search within school boundaries or here to learn how to apply school boundaries layers to your auto emails.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Posted in Blog, Featured, Industry News, Matrix

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10 responses to “Back to School Survey Finds School Boundaries Play Major Role in Home Buying Decisions”

  1. Jamie Test says:

    The map layers of school boundaries is very helpful in Matrix and a step forward, but I don't understand why the school information can not be auto-populated to every listing in MRIS without the listing agent being required to enter it? If tax information can be automatically linked, why can't school info? If every listing in MRIS has a geocoded location (latitude / longitude) and the school map layers have the same, why can't this information be automatically linked? It seems silly to have to do a polygon based map search for every school district one's clients are interested in. I understand that there is some liability concern with perhaps the incorrect school listed on occasion, but this does not seem to be a legitimate reason because one could argue the same liability applies to the map layers. I also understand that individual agents might not want school information listed, for whatever reason. That is fine and every listing should have the choice to opt out of automatically displaying the school info, just like you opt out of unedited comments on 3rd party sites, etc. MRIS, you guys are probably the most advanced MLS in the country…can you please take this school issue to the logical next step and automatically link the school data just like you have for property tax info? We would all love to be able to search *Woodson* under the high school field and receive relatively accurate results.

  2. Viktoria says:

    I agree with Jamie. Why can't we have it automatic with our listings?

  3. ilona motz says:

    Until we can have automate school listings, it should be a mandatory field for listing agents to fill in schools. If the listing agent does not and says "call school board" that agent is asking me, the potential selling agent to do their job.
    Ilona

  4. Yennie Shen says:

    Yes, it should be automatically. 95% of my clients are care about schools.

  5. E. Taylor says:

    Have you ever sold a house to a family that wanted to be in a certain school district and had the bountries change the next year. Every body is upset that had children in that certain school. I do not tell buyers that their children will attend a certain school and next year they are sent to help fill a new school. No one is happy when this happens. So call the school board has been my choice for years,because of this very reason.

  6. BAgnostak says:

    This is old news, as schools drive almost all purchases in this area; especially for families with school-age children. That said, as Realtors "we" should be the ones finding out which schools are in our listings…if we have MRIS do everything it won't be long before we will not be needed. Earn you commissions and fill out all the fields available. Complete, accurate, truthful listings benefit everyone involved.

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