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3 Types Of Homebuyers Every Broker Should Know About

3 Types Of Homebuyers Every Broker Should Know About

3 Types Of Homebuyers Every Broker Should Know About
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Do you want to scale up your brokerage business but not able to decide where to start from? Let us help you out. Selling property is an art as well as a science. If you want to give your business a double-digit growth year on year, begin by developing a clear strategy by gaining a sound understanding of the most important driver of your business. Who? Homebuyers.

Ask yourself, do you really understand your clients to whom you sell properties? Are you able to classify them and offer solutions that are best-suited to their profiles, requirements and aspirations? If not, read on. MakaaniQ talks about three types of property buyers whose requirements fall into similar buckets.

Homebuyers, the end-users

These form the majority of your client base and require your assistance to buy a home for personal use and are likely to make only one property deal in their entire life. However, they can provide you more referrals from their network, if at all they are satisfied with your services.  

How to identify them? Making a property visit, they will ensure that their first family joins in, too. Their questions will be more about the immediate scenario and livability of the place.

They will expect you to provide answers to every query they have about the properties. Be ready to provide information right from construction quality and Vastu to all the nearby infrastructure including educational institutes, healthcare centers, markets, public transportation, etc. After all, it is about the home they will be living in for their whole life. Their biggest concern would be project delivery and they will push you to show projects with shorter completion cycle.

Long-term investors

These types of property buyers have a pre-defined agenda in their minds. They may be moved by mega infrastructure projects such as airport and Metro rail, expecting great returns over a period of time.

As you know, such projects can take anywhere between three and eight years, the investors who have these developments in mind take a long term view. You will notice their interest in upcoming projects near these projects. As an investor, they would look for a deal where they have to pay less as upfront cost.

A new investor would provide you with an opportunity to sell a property but people who have been doing it for last several years may take you for a ride. They may tend to dig out all the necessary from you and later on try to strike a deal directly with the developer.

Buy-to-let investors

A number of people buy property in order to generate steady rental income. They can be your long-term clients. Once they are happy with your services, they will not only buy property through you but also engage you to rent it out at a later stage.  

Such property buyers would prefer a property which will be low on maintenance cost and high on rental yield. They will be interested in knowing about the nearby commercial hubs from where employees would prefer to rent houses.

As you can see, all of these real estate buyers have different aspirations. Once you classify them in these categories, you will be able to offer them right solutions. This will also help you in winning the clients quickly and close more deals in a given period of time.

Last Updated: Tue Sep 12 2017

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