A buyer’s journey
Marty Maher
It is really helpful, whether you are buying or selling, to understand the journey a buyer goes through when purchasing real estate. There are two distinct phases. There is the emotional attachment stage and the justification stage. The emotional attachment stage is all about finding the property they like. They start looking in the area that they like, and in the price range they can afford, and often the range slightly above what they can afford. If you are selling, it is very important to remember that the vast majority of buyers take what they see on face value. This is where pre-sale property presentation is very important. A small minority have the ability to visualise through a poorly presented property, but even if they
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do they will still deduct from the asking price to compensate for the work they will need to do. It seems obvious to state that buyers will emotionally attach to the property that most appeals to them, but we see so many instances on the real estate websites where poor photos or poorly presented properties sink to the bottom of the list. Your agent should be working through a presale checklist with you to assist you to avoid this situation. The second stage occurs once they have located the property that appeals and now have to justify the purchase to themselves. They consider questions like:- Is the property really right for us? Is the price
correct? Can we afford it? What do we have to do to the property to make it suit us? Are their better options available? Is this really the area we like? It can be quite an emotional time. An empathetic approach is required to guide a buyer through this part of the process and for them to feel comfortable to make an offer, or offers, that will successfully secure the property. Understanding these two phases can really assist you with your buying or selling journey, as they generally occur without exception. Simple mistakes are easily avoidable with the right guidance. Feel free to contact us if we can assist in any real estate matter.
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