Your target market is the most important thing you need to know when setting up your business. The same step applies to Real Estate. If you take Real Estate as a business, you should know who are you dealing with. Not to mention other competitive agents and brokers, knowing the type of homebuyers who you sell properties to is very important.
You don’t offer huge houses to two people who are just starting their life together. Or promote a limited space place to a family with five members. These homebuyers vary with their needs, including budget, location, and designs.
To make it easier for vigilant Realtors and brokers, here are the type of home buyers in the Philippines that you need to know deeply. The list can guide you with offers, strategies and transactions to close a deal.
First time buyers
First time buyers are flooding inquiry forms and ringing all contact numbers about properties. But don’t be too aggressive with these buyers, because even if they are new to the industry, they know what they need, what they want and when to buy a house. They may picky at times but don’t be deceived by their numerous choices because believe it or not, they already know what to buy.
Couple Home buyers
Couple home buyers are unmarried partners who decided to take their relationship to the next level. This type of buyer may take a while to decide on the house they want, but do not get bored because they are just as decided as First buyers in home ownership. They just often neglect the idea that they are now about to live together in one place, talk about fees they can afford, and decide which stuff they need and don’t need at all. A 2 bedroom house is good to start up a deal.
Newlywed Home buyers
Newlywed home buyers are the sweet couple you should always look after. Buying a new home is one of the top priorities of married individuals. They will need a new place to live in together, but keep in mind that this type of buyer is cautious in searching and buying a house. This house will be their first investment and most expensive purchase in their lives. They will avoid properties that they think will not fit their needs and most importantly their budget.
Married Home Buyers
These are buyers with two or more children and maybe a pet, which is usually a dog or cat. They are looking for a bigger place to live in due to the growing family needs. A 5 bedroom house is a perfect offer you can make to ease their dilemma in search for a larger house. It’s important to be knowledgeable with this type of buyer because they have all sort of expenses. Make sure they have listed everything they want and they are financially prepared.
Returning Home Buyer
The returning home buyers are the wise investors who keep track of the changing mortgage rates in order to take advantage of other low-cost homes. Returning home buyers already have their own properties, so they are not discouraged by the rising mortgage rates because the value of their owned properties are increasing too. These buyers don’t rush things when it comes to home ownership to make sure they close the best possible deal.
Balikbayan Home Buyer
Balikbayan home buyers are the hard working Overseas Filipino Workers who saved enough money to buy a new house. These home buyers are excited to go home and reunite with their family. Home investment is their number goal after they have returned from hard labor. They are the loving Filipinos who wish to surprise their families with a new home.
Undecided Home Buyer
This type of homebuyer may take longer time to decide on buying a house because they are unsure of the property. Undecided buyers are usually busy weighing the pros and cons, despite the seller’s full effort in explaining everything about the house.
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