What A Buyer Wants, What A Buyer Needs

What A Buyer Wants, What A Buyer Needs

Thank You Sean Aujla, MBA - Los Angeles for inspiring this post with your Q&A Question today!

Buying a home typically comes with a mix of essential needs and desirable wants. Understanding these differences helps agents cater to their clients effectively, ensuring they focus on fulfilling the needs while addressing wants where possible to create a satisfying home-buying experience. Often this requires gently reminding them that "perfect" doesn't exist, but an 8/10 on their checklist is a winner and a big head start and the remaining 20% is what you change as a homeowner.

Buyer Needs:

1. Affordability
   Buyers need to work within their budget and find properties that fit their financial parameters.

2. Location
   A suitable location is often essential, including proximity to work, schools, public transportation, and amenities.

3. Property Condition
   Buyers generally need properties that are in acceptable condition to avoid extensive repairs or safety issues.

4. Appropriate Size
   Buyers need a property that meets their space requirements, whether it's number of bedrooms, bathrooms, or overall square footage. This is often an area where they can compromise a little.

5. Financing Options
   Access to suitable financing that aligns with their financial situation is a fundamental need for buyers. Hiring a great lender like Jason E. Gordon assures them they will be served properly and set up for affordability success.

Buyer Wants:

1. Luxury Features
   Buyers might desire high-end finishes, appliances, or luxury amenities that enhance their living experience. But these can also be added later.

2. Aesthetic Appeal
   While they may need a functional home, buyers often want properties that match their personal style or interior design preferences. This can be accomplished through remodeling projects as homeowners.

3. Outdoor Space
   Many buyers want yards, gardens, or patios for relaxation and entertainment, but it's not a necessity for everyone. This is hard to change, so may actually be more of a need than a want unless the needs list have maxed out the budget before getting to this criteria.

4. Open Floor Plan
   An open layout may be a desirable feature, promoting connectivity and flow, but buyers can make do with traditional layouts and remodel later.

5. Smart Home Technology
   Buyers may want integrated smart home systems for convenience and efficiency, even though it doesn't affect the home's functionality. These tech features like solar, Ring, Nest, etc. are easily added later.

What a buyer needs, whether they know it or not
from their REALTOR®:

1. Good Communication - Buyers prioritize clear and timely communication to feel informed and confident throughout the process. Don't ghost them.

2. Put Their Needs First - Buyers appreciate agents who demonstrate understanding and act in their best interests, which builds trust and rapport. Relational approach not transactional.

3. Wisdom, Experience, and Knowledge in Their Market - Buyers often seek agents who are knowledgeable about the local market, as this expertise can significantly impact their purchasing decisions.

4. Skilled Negotiators - Strong negotiation skills are vital to securing the best deals, but they may be considered slightly less critical than the above factors in the initial stages of buyer-agent interaction. But in the end, this is what counts when writing offers and running escrows.

5. Out of The Box - While connections and creative solutions can be beneficial, and in my world have been a difference maker - buyers may not prioritize this as much as the other attributes mentioned, especially if they are first-time homebuyers or those with straightforward needs. But, I have sold 6 homes to buyers that were not for sale when I sold them...6 so far!