Recently in my post how to market your property to sell I discussed different methods to reach potential buyers. This post flows on from that one and I want to discuss the different buyer types and how the look differently, this will give you a good understanding on why we market how we do.

When you are marketing you need to ensure that you reach all these seven buyer types, if you miss one out you could potentially be missing out on the buyer that will pay the top dollar you are looking for.

These buyer types relate generally to how the buyer will be looking for a home. This is not relating to your ‘target market’ that is different. The different buyer types are:

Active Buyers

Buyers that are actively looking in the real estate market for a property, at this very moment. They have email alerts signed up, look at all the websites daily, read the property papers as soon as they come out and are working with North Shore Real Estate Agents.

The chances are they have already seen a number of properties, are close to exhaustion from searching, have missed out on properties already and are seriously ready to buy.

These are the types of buyers that I have on my VIP Buyers Program and am working with very closely.

Often they will make a strong offer right at the start of the campaign and/or at the first open home. They often don’t want to miss out again and often come in with a strong offer.

Passive Buyers

These are buyers that are not really looking as such, but they pick up the Property Press or North Shore Times Homes and flick through it looking at the pretty pictures and seeing what is on the market. Interestingly, this buyer pool only sees the pictures in ¼ page adverts and above, headlines and price guides. Everything else is too much effort.

They may be a neighbour that sees the sign board and has always secretly been a little jealous of the house that you live in, waiting for the right moment to pounce.

The good thing about this buyer type is that if a property captures their attention they will act on it.

People Who Know You

Often friends, family, friends of friends, your children’s friends parents, workmates, etc will come up saying that they would like to purchase your home when you put it on the market. Sometimes they will know someone else that wants to purchase it.

This is a buyer type that we need to be aware of, however as a home owner realize that often they want a ‘good deal’ or in other words – a bargain. Which isn’t always ideal for you. It is recommended that you leave the discussions with these buyers up to the North Shore Real Estate Agent’s as a third party source and still put them into the mix against the rest of the market, that is how you get the best price.

Out of Area Buyers

This buyer type is people from out of town that are looking to move into the area.

They might be from anther national, or international, town. They could just be from the other side of the bridge.

Your marketing avenues need to reach these people. Obviously the internet is the best way of doing this, however know that different sites reach different markets locally and international.

Special Circumstance Buyers

These are buyers that have been created by a special circumstance or event. This could be a large company relocating or employing a large number of new staff in the area.

This happened in Western Australia with the mines and caused a very strong property boom. In terms of in the North Shore we don’t really get large amount of corporate relocations in one go like this, but individual ones do come up occasionally.

Investors

Different types of investors look for different properties. Depending on your property, it may be ideal for investors.

Investors generally have a very clear picture of what they are looking for and do not get emotional about the purchase. They will often over look a lot of things that home buyers will not.

When investors are in market, they are a great market to target. They generally act quicker that other home buyer types.

The Emotional Buyer – Your Key Target Market

This is the buyer type that we that we want to target specifically for your property. All of the marketing will be tailored towards this buyer.

They will fall emotionally in love with your property and pay a higher amount to own it.

There is a buyer for every property in every market. It is a matter of targeting this buyer correctly, reaching them with your marketing, speaking to them in a language that they understanding, while conveying the features and benefits in a way that triggers all of their emotions.

When you do this correctly you can rest assured you will get the best price for your property.

To discuss the ways on how to target the specific buyer types right for your property and how to target the emotional buyer for your home please call me on 09 481 0648 to arrange a suitable time.