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Real Estate 101: How to Approach Different Types of Home Buyers

A real estate agent needs to have great conversation and negotiation skills. However, aside from these skills, they also need a script, a plan to guide the meeting towards their goal, which is closing the deal. However, it is important to understand that, as an agent, you will be dealing with different types of buyers, and each type requires a different approach. There is no universal magic real estate script that can help you sell to any potential buyer. However, if you learn how to read people, you will learn to come up with the right approach for each type of buyer. In what follows, we will discuss the most common types of buyers, and how to approach each and every one of them.

Family people

Most people buy a home when they are planning to start a family. During an open house, you should always try to asses the marital situation of your potential buyers. Family people usually come with their spouses to see potential homes, so your shouldn’t have problems noticing them. Just look for couples of similar age. Keep in mind that these people are usually looking for quiet neighborhoods, near good schools, preferably with big yards, where the children can play. If your home doesn’t really match that description, you can always try to put a good light on it. For example, you can boast about the big living room which is great for family reunions, or the spacious attic that can be turned into a playroom.

Millennials

Up until a few years ago, millennials were thought to be the most unstable generation, always on the move (for work or pleasure). However, as they reach their 30s, they are getting ready to settle down, and believe it or not, they are ready to become homeowners. But they are very different from the older generation, so you will need to refine your real estate scripts to match the specific needs of this generation. Keep in mind that most millennials are still dealing with their huge student loans, so they don’t have a big budget. However, they are willing to buy before marriage, and they are not looking for a place that will satisfy them forever, since they might be tempted to move to a new country in the future. The good thing about these types of buyers is that they know what they want, and they are not afraid of the commitment. They also consider themselves to be experts on everything, so you will get their attention if you treat them as such. Point them towards an up-and-coming neighborhood and tell them about how their investment will grow in the future.

Single people

Despite the fact that men still earn more money than women, single women are more likely to buy homes than single menre. Single females usually make great financial sacrifices to buy homes, and they usually consider their homes to be investments for the future. They usually buy homes due to lifestyle changes such as children moving out or moving back in, divorce, or retirement. Single man also buy homes due to lifestyle and family changes. However, unlike women, most single men value the proximity to entertainment and leisure activities.