In this blog, I’m going to tell you all about the different types of homebuyers I encounter regularly.
But, before I get into the content I want to share a story with you about some clients of mine, Chris, and Julie. Chris and Julie purchased their first home a few years prior before we met and things didn’t go smoothly. As first-time buyers, they neglected to get pre-approved for a mortgage before they started shopping around. As a result, they were devastated when they lost their dream home because they didn’t have financing in place.
When Chris and Julie were finally ready to buy their next home, they arrived highly motivated and prepared. We worked together to get their finances in line before we started shopping. They asked plenty of questions along the way and when we found their new dream home, we were able to make an offer quickly, and it was accepted just as quickly!
Now, the moral of the story is to work with an agent every step of the way, so you don’t encounter any avoidable disappointments that could cost you the perfect home.
So if you want to be as prepared as Chris and Julie,
Here are the different types of home buyers and which ones find success.
The First-Timer
Whether you’re a new family looking to lay down roots, or a young professional ready to make your first big purchase, I love working with first-time buyers. First-time buyers are always excited about the process and they love to dream. But sometimes that excitement leads to mistakes.
In Chris and Julie’s case, it was not getting pre-approved for a loan. In other cases it could be, not asking the right questions, not asking for comparables, or skipping a home inspection for example. When you work with a qualified real estate agent, you eliminate the chance for these mistakes to occur. Remember, as real estate agents, it’s our job to set you up for success.
We know the steps to take, the questions to ask, and the red flags to look for. At the end of the day you and I are on the same team, we both want to get you into the best home for the best price in an ideal time frame.
The Highly Motivated Buyer
A highly-motivated buyer is every real estate agent’s dream client. This type of home buyer has likely been around the block a few times and as such, they usually have all their ducks in a row when they come to me. Even the less-informed motivated buyers are fully engaged in the home buying process this type of motivation isn’t always a result of having past experience. Needing to move to a new area for work, for instance, can also be a cause of motivation. Highly-motivated buyers almost always get pre-approved for a loan before they start house hunting.
And often, they have some idea about the current state of the market they’re looking to buy in.
Now occasionally, the motivated buyer needs someone to help them slow down.
In their eagerness, this type of buyer might be inclined to buy before they sell their current home, for example. As an agent, it’s my job to keep this buyer on the right track, Manage their expectations, and ultimately, get them into their ideal home as quickly as possible.
The Window Shopper
Unlike the highly-motivated buyer, the window shopper isn’t ready to buy “right now”. Some agents might think this type of buyer is a waste of time. But I disagree. Window shoppers might not have the means to buy right now. Or they might be waiting for a certain life event to take place before they’re ready to seriously look. But even if you’re casually looking, it pays to have the help of an agent. I like to keep in touch with these potential clients, providing market report updates and any other information I think they could benefit from. This shows the window shopper that they can trust me and rely on me to give them the information they need.
As the buyer, by keeping in touch with an agent at this stage. You set yourself up for success when the time to buy finally does come.
The Investor
The investor buyer is usually looking for an amazing opportunity to show up. Chances are they’re buying the property with the intention of renting it or flipping it for profit. As such, they are less concerned with the property itself, and more concerned with getting an amazing deal. Where other buyers would see a flaw and want it fixed, The investor buyer sees a flaw and wants a discount. A real estate agent has their eyes and ears on the local market every day. Between that, and my wide network of other agents and sellers, I am able to share deal-worthy properties with buyers as soon as they hit the market and sometimes even before that.
No matter what type of buyer you are, there is always an advantage to working with a real estate agent.
Reach out to Danny Greene if you need assistance with your home-selling process. We will be happy to help you! Send an Email at Danny@CalgarysAgent.com or call the number 403-605-6626!
