Different Types of Buyers

All buyers are not created equally. While most have the best intentions, some may not be ready or even able to buy your home. By learning to identify the different types of buyers, you can save yourself from disappointment and find buyers who want to seal the deal.

The no-nonsense buyer is on a deadline and ready to buy now. They may be relocating for work, have sold their own home, or want to get the kids settled before school begins. Whatever the reason, they’ve done their homework and are often pre-qualified with a lender in place. Answer their questions directly, and be prepared to move forward quickly if they make an offer.

The measured buyer is equally serious about buying, but is less urgent to do so. First time home buyers often fall into this category, and they tend to take their time, do their research, and consider their options. Don’t mistake a measured buyer’s reserve for disinterest. While they won’t gush over your home, they may buy it. Give them as much information as possible – and offer your contact information in case they have any additional questions.

The casual house-hunter often can’t afford to buy now, but they enjoy looking at homes and planning for the future. They fall in love with houses instantly, raise your hopes, and then disappear. Casual house hunters are often overly-enthusiastic and ask a lot of questions, but when you ask about their plans or financing, they’ll give vague responses.

The bargain hunter will only buy when they find an unbelievable deal. They generally seek out for sale by owner properties (to avoid broker fees) that have been on the market for a while. If you’re desperate to sell, a bargain hunter may seem ideal, but make sure they have financing before you accept an offer.

The investment buyer is looking to get a long-term return on your home.  They may not plan to live in the house themselves, so they may be more flexible about features and less emotional than other buyers. They also usually own other property already, so they’re familiar with the process and know how to secure financing.

Keep an open mind and treat everyone who looks at your home as a potential buyer. Eventually, one will be.