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Buyer Behaviour in today’s Market

TODAY’s BUYERS…

The world has changed and they behave differently. TO FIND A PROPERTY IN THE PAST:- Buyers used to do this;

  • Let the agent know up front they are looking
  • Buy the West Newspaper on a Saturday morning and make a list of everything open and drive around viewing home opens.
  • Drive an area scouting For Sale signs
  • Register their details with Real Estate agents with their wish list
  • Get in Agents cars who drove Buyers around to view listings.
  • Look at lots of homes until they find what they want

These days the internet has changed forever how property is viewed.

  • Instant 24 hours access
  • Floor plans
  • Social media means massive leverage and potential momentum
  • Virtual tours
  • Video
  • Interactive Maps
  • Google aerial maps
  • Location shots

TODAY’s BUYERS

  • Eliminate 80% of properties without ever viewing…We are all time poor
  • Do most of the work BEFORE they look at anything
  • Basically from home or office (covertly/ anonymously)
  • They drive past and see the home at different times of the day “under cover” as well as checking out neighbours, noise, traffic etc.
  • Might knock on neighbours doors
  • Will almost certainly know the price and sales history of any property including if it were on the market before
  • Will look at your home from Google Earth and Maps (aerially)
  • Buyers will easily be able to find out days on market and the history

So what is my point?

When we finally see a BUYER in person at a home, they are pretty educated, and probably self qualified to some extent.

NOW MORE THAN EVER!- Good follow up of all Buyers from enquiry or home opens is essential.

  • The home needs to look sharp all the time- some Sellers even leave the front lights on until they go to bed to make it look its best. The marketing has to be “WOW” as we have a few seconds to be on the Buyers radar and shopping list. (The 20% of properties short listed)
  • The price has to be about right
  • All offers and Buyer feedback should be looked at on merit and a pragmatic approach taken

PRICE
Properties perceived to be “a little optimistic/ or more”, could be sidelined and never even viewed.

  • The good news is that there are plenty of opportunities and Buyers do exist.
  • We just need to find the right one AND we are working hard to do just that.


Yours faithfully
Ian Barnes

Thank you for your business and continued trust.