We have done the research for you. Here are the 6 types of buyers:
First Home Buyers
First home buyers are brilliant to work with as they are governed by budget not features.
- Anxious to get out of the family home
- Motivated by price and easily swayed
The Family Buyer
The family buyer makes up an enormous part of the real estate market.
- Make practical decisions
- Forego fashion for space
- Locate near schools, transport etc
Investors are an increasing part of the property market who feel insecure with shares.
- Looking for a bargain
- Interested primarily in financial return
- Unemotional (unless one of a partnership believes they could live there one day).
A prestige buyer can be a difficult client. Usually leaving a nice property (third home), they are looking to upgrade to the next stage of their life.
- Purchase an address circle / street – not the property
- Their decision is based upon consensus / peer group
Life Crisis Buyer
Life crisis buyers are highly emotional and very sensitive to people who may take advantage of their situation.
- Financially troubled
- Looking for a lifeboat to save them from the storm
- Need direction and end up taking advice from too many people
- Wanting options and crying out for guidance
Final Home Buyer
Final home buyers are usually very mature and calculating clients having specific needs and goals.
- Normally downsizing to maintain a lifestyle
- Requiring a home with low maintenance
- Anxious for a property where they can lock the door, leave for a holiday and not worry.
- Usually focused on location, and will forego quality for convenience
- Seeking a place the family will enjoy visiting