Buyers Journey

It’s easy to forget the buyers journey has changed.

We deal with people buying property every day. And the way they buy property has changed a lot. While it’s true that it can still be an emotional process, buyers are now much better informed than they used to be. And yet, the way property gets sold hasn’t changed much at all and that causes a disconnect.

So, what is a property buyer like today?

If I had to chose one word, it would be educated. These days, before a buyer goes to see a property, they already know enough about its main features through an online listing and would have probably researched its location. Many buyers also research recent sales in the area as this information is easily available on Domain or REA.

This means when a potential buyers finally gets to the property, they’ve already formed some connection to it, otherwise they probably wouldn’t be there at all, unless they are just doing comparison research.

But when an interested buyer goes to the property, most agents provide them with a glossy brochure that tells them the same information they’ve already seen online. Why? Because that’s what agents have always done. They smile, ask the same questions they’ve always asked and then move onto the next group with the same process.

But those agents who haven’t kept up with the buyer journey are most likely missing opportunities to connect with buyers.

This is because they don’t tell them anything new unless the buyer asks a specific question.

But the best agents, the ones that list most properties (80% of properties are listed by 20% of agents) are more aware of how buyers approach a property purchase.

Firstly, they follow up with prospective buyers. Believe it or not, many agents don’t even do this. And when a good agent does follow up, they try to add some value to buyers. Maybe revealing some less obvious property features, some useful local information or ways to access other information about the property that buyers are likely to want to know. Examples include available inspection reports, a guide to buying at auction, information on financing and so on.

These small things improve the chance of there being more serious buyers interested in the property they are selling. Buyers feel more confident about the buying process and therefore more confident about that property.

And, most importantly, this means the buyers have a better experience dealing with that agent.

And you can guess what that means, can’t you? Those buyers are more likely to use that agent when selling or recommend them to friends or family who might be thinking about selling. That means a better chance of future listings.

Best Regards,
Michael Ferrier

At EYEON Property Inspections, we help you buy and sell with more confidence.