Coldwell Banker Real Estate Surveys 1,000 Men and Women to Discover Gender Differences in the Home-Buying Process

    Survey Finds that While Couples Make Real Estate Buying Decisions
    Together, Women Make Up Their Minds Significantly Faster than Men

    BURLINGTON, ON, Aug. 17 /CNW/ - It often seems as though men and women
are from different planets, but every day millions of couples navigate through
day-to-day and even life-altering decisions. Because a home is the biggest
purchase most people will make in their lifetime, Coldwell Banker Real Estate
LLC surveyed 1,000 individuals to discover how much men and women differ in
the home-buying process.
    The real estate company engaged a third-party research firm,
International Communications Research (ICR), to delve into the inner-psyche of
men and women, asking questions such as "How long did it take for you to know
that the last home you purchased was right for you?" and "If you found the
home of your dreams but had concerns about its security, would you still be
interested?" Coldwell Banker Real Estate also surveyed couples on additional
topics, such as "Who wears the pants in the relationship?" when it comes to
making major financial decisions.
    "The results were surprising," said Diann Patton, the Coldwell Banker
consumer real estate expert. "Not only did we uncover some of the inherent
differences between men and women, but we also pinpointed a number of ways
that the two genders are actually the same. For example, both men and women
are increasingly concerned with having a space to work in their homes -
something we would not have seen 40 years ago." She continued, "We also found
that feeling insecure about a home's safety is a deal-breaker for most people,
regardless of gender."

    Below are some key highlights from the Coldwell Banker study:

    Women may be inclined to make up their mind more quickly than men ...

    -   When asked how long it took before they knew their home was "right"
        for them, almost 70 percent of women had made up their mind the day
        they walked into the house, vs. 62 percent of men. Conversely,
        significantly more men needed two or more visits: (32 percent of men
        vs. 23 percent of women).

    Women would rather live closer to their extended family than to their
    job ...

    -   55 percent of women find it more important to be closer to their
        extended family (those that do not live in their household) than to
        their job, compared to only 37 percent of men.

    A home's security is a deal-breaker for both men and women ...

    -   64 percent of women said that if they found the home of their dreams
        but had concerns about its security, they would no longer be
        interested. More than half of men agreed (51 percent).

    Couples say that no one "wears the pants in the relationship" in terms of
    major financial decisions ...

    -   When asked who wears the pants in the relationship (when it comes to
        major financial decisions, such as purchasing a home), almost 70
        percent of respondents living with their significant other said it's
        actually mutual.

    -   However, 23 percent think that they, themselves, wear the pants in
        the relationship, not their partner. More men than women said this
        (26 percent vs. 20 percent, respectively).

    Men and women agree on how they would use a spare room, for the most
    part ...

    When the respondents were asked how they would use an extra 12 x 12 room
    if it could be anything they wanted, men and women agreed on the top
    three most popular, and very practical, responses:
    -   Bedroom: 25 percent
    -   Office/Study: 15 percent
    -   Family Room / Den: 11 percent

    However, men really do want a "Man Cave"...

    -   Interestingly, out of the 8 percent who indicated they would turn
        that spare room into an entertainment centre, it was a preponderance
        of men leading the charge. In fact, four times as many men as women
        said they would use the extra space for recreation / entertainment.

    In addition to providing background on the survey results, Patton is able
to offer tips for couples who are currently going through the process of
buying a home. "These results further validate how critical it is for couples
to recognize each other's differences and work together, from deciding a
neighbourhood to how to use a spare room," she said. "Online tools and the
expertise of a real estate professional can be particularly helpful for
couples, especially if they work together step-by-step along the way."

    Methodology: Coldwell Banker Real Estate engaged ICR to conduct an
omnibus survey via telephone in May 2009, among more than 1,000 U.S.
respondents. Canadians were invited to participate through a Zoomerang online

    About Coldwell Banker Real Estate LLC
    Since 1906, the Coldwell Banker(R) organization has been a premier
full-service real estate provider. In 2008, Franchise Times magazine's
prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real
estate for the ninth straight year and 12th among franchisors in all
industries. The Coldwell Banker System has approximately 3,500 residential
real estate offices and approximately 100,000 sales associates in 47 countries
and territories. The Coldwell Banker System is a leader in the industry in
residential and commercial real estate, and in niche markets such as resort,
new home and luxury property through its Coldwell Banker Previews
International(R) division. It is a pioneer in consumer services with its
Coldwell Banker Concierge(R) Service Program and award-winning Web site, Coldwell Banker Real Estate LLC is a subsidiary of
Realogy Corporation, a global provider of real estate and relocation services.
Coldwell Banker(R) is a registered trademark licensed to Coldwell Banker Real
Estate LLC. Each office is independently owned and operated.

For further information:

For further information: To Arrange an Interview with Consumer
Spokesperson Diann Patton and Get Tips for Couples in the Home Buying Process,
Please Contact: Barbara Zaprzala, Coldwell Banker Canada, (905) 278-4964,; Kathleen Reynolds, CooperKatz & Co., (917) 595-3031,

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