What Is Your Ideal Client?

If you have a specific niche or property type you are interested in, it is a good idea to spend some time figuring out who you would like to work with. By identifying your ideal client, you are narrowing down your focus on what type clients make you happy to be an agent. For example, if you love helping find first time home buyers their home, then focus on that niche and learn everything you can to help.

If you relate to people with certain education backgrounds like blue collar, college graduates, or professionals, you can focus on helping them with their purchase. You might be interested in working with a certain type of buyer like first time home buyers, investors, or luxury home buyers. Or maybe you enjoy working with teachers, first responders, the military, or a particular tradesman. Or would you prefer to work with a client with a certain networth, someone who has the same hobby, or someone who is tech savvy.   

There are so many types of buyers.  It is best to work with those that you will be able to relate to and that you understand their wants and needs.

There are several types of buyers that you might want to specialize working with which include:

FIRST TIME HOME BUYERS

  • Looking for a comfortable home with space for family
  • Usually looking for at least 2 bedrooms and 2 baths
  • Vacating rental to move into a starter home
  • Experiencing less wage growth and buying more expensive homes
  • Are often moving out of a family home, an apartment, or other rental
  • situation
  • Tend to be less knowledgeable about process, ask a lot of questions, and
  • may lean on parents or friends for advice
  • Have limited cash on hand and may be borrowing the down payment funds
  • from relatives
  • Tend to buy smaller, modestly priced homes
  • May need to clear up credit issues or build credit prior to their purchase
  • May need low- and even no-down-payment programs available

MOVE DOWN BUYERS

  • Downsize from larger home or possibly easier maintenance
  • Like to be in quiet areas but near restaurants and shopping
  • Sometimes looking to retire (empty nesters)
  • Have experience with the process
  • Want to spend money wisely on items that will help them live better, and
  • longer
  • May be living on fixed incomes, often have a large down payment available,
  • and can often pay cash if they’ve paid off their previous home.

MOVE UP BUYERS

  • Usually need larger homes due to change in income, circumstances like a new
  • baby or marriage
  • Looking for upgrades like larger yards, pools
  • Schools and neighborhoods are important
  • Need additional space
  • Need to consider cost of selling like moving costs
  • Career changes, looking for luxurious amenities

MILLENIUM BUYER

  • More educated and tech savvy
  • Looking for suburbs that feel like a city
  • Open Floor plans
  • Media, workout, and playrooms
  • Frugal, want to live within their means and don’t want to purchase until they
  • have saved enough for down payment
  • Plan to stay in the home for awhile

LUXURY BUYERS

  • High net worth individuals looking for high end amenities
  • Have many requirements for new home like large lot, views, square footage,
  • extra storage spaces, and large garages
  • High end finishes and technology
  • Outdoor kitchen and pools, game and theatre rooms, spa bathroom, and
  • exercise room
  • Close to shopping and restaurants

INVESTOR BUYERS

  • Specialize in buying and selling property
  • Usually own several at a time for rentals or renovation
  • Looking for property in a decent location and price
  • Passionate about finding a good property
  • Self-disciplined and patient, will not let emotions take over

FIX AND FLIP INVESTORS

  • Looking for properties priced below market
  • Property needs renovation and looking to restore fairly quickly
  • Price driven and know how to calculate construction and holding costs
  • Create a business plan for each flip

RELOCATION BUYER

  • Qualified to buy and have a limited time to see and purchase a property
  • Want to see as many homes as possible
  • Expect agent to guide them
  • Are prepared to make fast decision?
  • Great niche for a long time resident of a certain area

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