When it comes to selling property, you will be approached by various types of buyers.
For a quick sale, it is important to understand the different types of buyers.
To attract the right buyer, marketing should focus on a specific type of buyer. Different features of a property will appeal to different kinds of buyers, all depending on what they’re after.
At PropertyFox, we look at the different types of buyers you should expect to meet when putting your property on the market.
These are usually middle-class families who are looking for a foot in the door to homeownership based on affordability. These buyers are looking for a comfortable, liveable home and are likely to be drawn to homes with large gardens that provide plenty of room for gardening and space for children to play. Generally, they want at least two bedrooms and two full bathrooms to accommodate expanding families and room for visitors to stay.
Generation Y Buyer
These buyers do not necessarily rely on seasons and school schedules to purchase homes. For this group of buyers, the market is always on. They are very active buyers, and most importantly Millenials want suburbs that feel like a city. They are fully connected, visual and will view listings at any time of the day. Most of these buyers prefer seeing homes that appeal to them on their own time. Some might even be part of the growing remote workforce so tech specs will be appealing.
A property that can generate revenue while it appreciates in value over the long term is the main concern for this buyer. They are generally looking for a secure long term investment that will require relatively low maintenance. These buyers are normally looking for sectional title units that require little or no renovation and can be rented out immediately to start earning income.