Types of Buyers

Copyright (c) 2011 Jack Bosch

Targeting a specific kind of client is essential to selling your property. In order to know your client, you need to be able to classify what kind of client you are selling to. There are three main types of buyers: Investment Buyers, End Buyers and "Wait See and Enjoy" Buyers. The following is a breakdown of each kind of buyer.

Investment Buyers - Investment buyers typically buy properties for resale. They are purchasing properties wholesale and selling retail. Their main goal is to purchase properties and maximize profits by holding onto the property for one to five years before selling. This type of buyer generally has the cash to purchase the property. Investment buyers are interested in purchasing properties with short-term and mid-term growth prospects and have a habit of purchasing land sight unseen.

End Buyers - End buyers are interested in purchasing properties for long-term growth prospects. These kinds of buyers usually purchase properties as retirement investments or as properties to move into or build on for their own private residences in the future. Generally, end buyers are not purchasing multiple properties and tend to be more interested in remote and rural land where they can purchase properties at lower prices. They do not often have the cash to purchase the property and may need a greater amount of financial assistance. End buyers are interested in either holding onto their properties for 20+ years before selling or will never sell at all. This kind of buyer will likely want to see the property before they purchase it.

"Wait and See and Enjoy" Buyers - "Wait and See and Enjoy" buyers are a mix of both investment and end Buyers. These kinds of buyers are interested in investment growth of the property. They are aware of the financial potential, but are also interested in purchasing properties in areas where they can enjoy the surroundings. Generally, this type of buyer is interested in holding onto their property for 5 - 15 years and has no immediate plans to move into the property. They usually have a good amount of cash for the property and will need some financial assistance. "Wait and see and enjoy" buyers may or may not want to see the property prior to closing the sale.

If you are able to classify the type of buyer you are working with, you will have a greater ability to anticipate their needs and access the information they require specific to their purchasing goals. Knowing what kind of buyer you are working with is integral when using a targeted approach in selling properties.


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