The NEW Buyers

Are you positioning your listings to sell to the New Buyers?

The economic and housing conditions have changed how folks are purchasing homes and other properties. At the top of their list use to be the ultimate “Location, Location, Location”.

In researching how brokers and agents are getting their listings sold in today’s housing market, our research revealed that a new type of buyer has emerged; and the New Buyer’s formula is “Price, Condition, Location”.

While every real estate professional understands that price plays a role in the purchasing decision, in the past emotions could often sway buyer to stretch and go for the “dream” place with its ideal location. This is no longer the case in today’s real estate market.

What’s Behind the New Formula
Buyers who have made recent real estate purchases, as well as buyers who are looking to make purchases by the end of the year, have been consistent in their approach to real estate. Thus the new formula describes the shift:

Price
Upfront, buyers want to make sure they can comfortably pay their mortgage. They are no longer interested in “stretching it a bit” just to have the “dream” home. The first thing buyers are asking is “What is the price?”.

Your Listing Strategy

(1) Price the property aggressively if you want quick offers
(2) Include the amount of housing rebates in your flyers
(3) Explain the bargain with how much others have paid for properties in that area

Condition
Second, buyers really do not want fixer-upper unless they are getting bargain basement (almost give-away) prices. Therefore, the way the property looks, feels, and flows is important. Buyers are looking for homes that are move-in-livable.

Your Listing Strategy

(1) Make sure the place is clean, smell fresh and presentable
(2) Fix those items you know will impact the personal appeal
(3) Include the dollar amount to be granted for repairs, fixes and accommodations

Location
Third, buyers want to be in a safe, clean and secure environment with good schools and nearby shopping.

Your Listing Strategy
(1) Include info on school performance
(2) Inform of nearby parks, fitness centers, and hosted city activities
Buyers are looking for ways to save money, reduce debt, lower costs, spend less, and get the most from every purchase. There are still quite a number of families that are looking to buy real estate; whether a first home, vacation rental, or investment. Just be sure that your listing strategy is meeting their changing needs.