This is a one page flyer that I wrote speaking to the 'for sale by owner' market. I needed something to convince these sellers that the "buyers" coming through their open houses were not really good potential buyers at all. This has worked for me in several instances, but you have to wait until they've had it on the market for a month or so.  If you send them this information after they've had enough Bargain Hunters and Casual Lookers come through, they'll start to realize this information is very true and be much more responsive to listening.


There are only 4 types of buyers!

Highly Motivated Buyer
  This is a buyer that is ready to buy today!  They may be moving to this area because
  of a job transfer, or have already sold their present home and need to find another
  one fast, or they may just be the kind of people that like to make quick decisions.
  These buyers are typically pre-qualified with a lender and almost always work with
  a Realtor. They don't have time to drive all over town trying to track down a home
  to buy. Since 97% of the homes for sale are listed with Realtors, these buyers know
  it's just easier to get help from a Realtor.

Serious Buyer
  This type of buyer is serious, but not in a huge hurry. They may be first time home
  buyers, or have just recently put their current home on the market, but don't have a
  buyer lined up yet. This type of buyer is also prone to working with a Realtor. They
  do understand that working with a buyers agent doesn't cost them any money and
  if they are first time home buyers, they may feel helpless and need someone to walk
  them through the process and protect their interests.

Bargain Hunter
  This type of buyer is looking for a bargain. Their idea is to save the commission that
  goes to a real estate firm, or worse . . . they want to find someone that's desperate to
  sell so they can buy the home at a steep discount. They'll ask enough questions to
  get a sense of how badly you need to sell and are only concerned with price. This
  type of buyer is almost never pre-qualified with a lender so you'll never really know
  if they can actually afford to buy your home, but they'll tell you it's not a problem.

Casual Lookers
  This type of buyer is a semi-professional "looker". They can't afford to buy because
  of bad credit or no money, but they won't ever tell you this. They like to spend their
  weekends just looking at homes and wasting your time. They'll tell you they love
  your house and ask all kinds of questions. They'll get your hopes up, but after they
  walk out the door, you'll never hear from them again. When you call them, they'll
  have some excuse of why they're "not ready to buy right now" or they'll say, "We're
  still looking".


  If 97% of all the homes for sale in this area are listed with
real estate firms, where are the serious buyers most likely to go?

So what kind of buyers are left over for you?

 

 

 

6 Comments on The 4 Types of Home Buyers

Great Flyer! I think you are correct in saying that you should wait until they have had their share of browsers.

05/13/2007 10:00 PM by Lania DeMers, Broker Rocky Mountain Realty Co. (Rocky Mountain Realty Co.)


Nice way to categorize the buyers. I like it. As a matter of fact, I think I might borrow some of your verbiage :)

05/13/2007 10:09 PM by Lisa Hill (Daytona Beach Real Estate) (Adams Cameron and Company)


I agree with the first two comments.  You nailed it.  The hard part is how to find the loyal buyers.

05/13/2007 10:36 PM by Roger Stensland (Brio Realty)


This is a great example to give to a FSBO or any seller for that matter.  Thanks for sharing these...

05/13/2007 11:06 PM by Jon Angevine Calgary & Airdrie Real Estate (Royal LePage Foothills)


Thank you for sharing your flyer for FSBO's.  This is an excellent idea.  The information you're putting in the flyer puts it all into perspective for the seller and often times that's all they need to sign the listing agreement. 

05/13/2007 11:13 PM by Julie Neerings~Lifting Hearts ♥ Building Dreams~Utah REALTOR® (Keller Williams Salt Lake City)


 

Great info and best of luck in using it with your FSBO's.   Thanks for sharing it.  I think this is the kind of info FSBO's need.  With all of the HGTV type of shows on, they think they have the "staging" issue covered.  Needless to say, FSBO's aren't going to get this type of info from the FSBOonline type of businesses.  Thanks for sharing

05/14/2007 07:35 AM by Lea Deo, Realtor-Shawnee, KS (Keller Williams Legacy)


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Real Estate Agent: Ron  Henderson (Keller Williams, Northland Partners)
Ron Henderson
Kansas City, MO
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