By: Andrew Date
The 5 types of buyers who use a Buyer’s Agent Back
I’ve worked in property for a number of years and have helped countless people on the path to securing their property goals. Along the way, I’ve been able to identify key buyer categories and gain an in-depth understanding of their unique needs.
No two buyers are alike, yet there are some general similarities of the type of people included in the following groups. Which one do you belong to?
- The Time-poor Professionals / Investors
Where does the week go? With the demands of work, it can be a tough ask for buyers to put in the effort required to really keep up to date with the property market.
Purchasing a property is not a task to be undertaken lightly. That’s why smart professionals regularly engage my services, saving themselves both time and money.
For busy professionals, whether single or with a family, the benefits of engaging a Buyer’s Agent are twofold: 1. A Buyer’s Agent can significantly reduce the time spent on scoping, collating, reviewing and analysing available property, and, 2. A Buyer’s Agent will have access to contacts and information about unlisted properties, giving you new avenues into markets that you might not have considered.
- The First Home Buyers
In today’s market, saving for that long-awaited first home can be fraught with challenges. Ask any member of the Millennial generation (of which I am a member!) and you’ll hear a long list of complaints and hurdles to getting a foot in the property market.
First there’s the issue of saving – a momentous task for many young people.
Once the deposit is saved, there are some First Home Buyers who choose to seek expert advice when it comes to the most important purchasing decision of their life.
Often, this group is willing to “rentvest” and purchase a property that will not be their primary residence.
Whatever their property goals look like, I help First Home Buyers by arming them with all of the research, information and negotiation power they need to compete.
- The Savvy Woman
In the Melbourne property market, women are treading their own path, becoming smart investors and successful property owners in their own right. Without wanting to generalise, I find that many of my new clients happen to be women purchasing property independently.
While I can only guess as to why this may be, I think it has something to do with women being more open to seeking out advice. For men, ego can sometimes get in the way and prevent us from seeking expertise and support.
Whatever the reason, it’s a privilege to be able to support women of all backgrounds and ages achieve their property goals.
- The Downsizers
The Downsizers, are an asset-rich, experienced group. They’re often in transition to retirement and have already reached the major property goals of their life and built a family.
Downsizers are generally very considered in their approach to property. Moving from a large family home to a smaller residence is often a smart choice for them in terms of lifestyle and maintenance – it can also be a smart financial move. By engaging a Buyer’s Advocate, Downsizers gain exposure to property options they would never have known. And on auction day, they have someone on their side that is highly aware of their needs.
- The Relocators
Ever moved to a new city only to be hit with an overwhelming feeling of being out of place and lost?
With an average of 1500 new Melbourne residents arriving each week, it’s become increasingly common.
Moving is already tough without the added pressure of navigating the ins and outs of the local property market. This is where an experienced local Buyer’s Agent comes in.
A trusted advisor with local insights will even the playing field, meaning the recently relocated buyers will be comfortable that they are making smart property decisions in their new home city.
Some of these buyer profiles overlap, and there are always exceptions to any group. But these 5 main groups provide an insight into the truly diverse demographics of people who use a Buyer’s Agent. In a property market as competitive as ours, it’s easy to see the tangible benefits to each of these groups.
Contact Industry Insider, or call me on 0402 346 810 if you need expert advice on making the best property purchase for your circumstances.