Why it’s important to know your ideal buyer

There are lots of things to consider when putting your home on the market. Your target market is definitely a crucial one among them.

Just like any significant business transaction, when selling a house it’s crucial to know who you are dealing with. For most people, buying a house is not only a financial decision but also an emotional one.

Knowing your potential buyer will not only help you market and present your property appropriately, but also help you pre-empt any negotiations.

There are many types of property buyers.

For example:

  1. First home buyers
  2. Young families
  3. Families with older children
  4. Double income no kids
  5. Investors
  6. Empty nesters/retirees.

However, it is important to remember that even within buyer types, different elements of your property may appeal for different reasons. Other things to consider about your ideal buyers include: income and lifestyle.  Features of your property that will dictate your ideal buyer include: block size, number of bed/ bathrooms, car accommodation and most importantly, location.

For example, a family with older kids could be looking for a 4 bedroom house on large block with a rumpus, outdoor entertainment area and good high school catchment.

A different family with a similar make up could be looking for a 4 bedroom, low maintenance property, close to the city and public transport.

Consider what your property has to offer different buyer types in order to identify your ideal buyer.  You can then stage your property to appeal to your ideal buyer. This may mean reconfiguring things slightly. For example, converting an office to a bedroom, guest room or even a nursery.

It is imperative to highlight your property’s maximum potential.

To help you narrow down your ideal buyer, we’ve pulled together a picture of the average buyers in the Hills District:

1. Professional couples that want to buy a big home on a large block

Typically they want the 607sqm blocks available in the Hills District rather than the smaller 405sqm blocks typically available in inner city areas.

They’re after space to raise their children and have pets that need space to move, roam and explore.

2. Local investors who want to have investment property near to where they’re living

3. Families that want value for money but still want to be connected to the City by rail

Knowing who your ideal buyer is, and what they want, enables you to know how to properly prepare your property for sale.

SAM LANDON. THE HILLS AGENT.CHOOSE TENANTS WISELY

Obviously, your local real estate agent is an expert on what local buyers want.

Click below and Sam will give you a free appraisal.