Helping You Make all the Best Moves!

The Real Estate Market’s Four Types of Home Buyers

Home Buyers in the Real Estate Market

There are basically four types of home buyers in the real estate marketplace.

Relocation Home Buyers

First, there is the “relocation buyer.” This is the number one buyer that we target and aim to serve as agents. This buyer is rock solid. They’re coming in to buy a home and they know they’re only going to be here a limited amount of time, so they want to see as many houses as they can. That buyer is very qualified to buy. But they don’t want to spend the time looking by themselves. They want a professional to go in and pull up homes, and show them as many homes as possible. So that buyer is not generally going to call you if you’re a for sale by owner (FSBO), because they don’t have the time to do that.

Needs Home Buyers

The second type of buyer, the “needs buyer,” is also a good type of buyer. This buyer calls and basically says, “hey, we need a bigger home” or “we need a house with a pool” or something along those lines. And they will usually call a real estate agent. Every now and then they may look in a newspaper, but primarily they’re going to call an agent because they have specific real estate needs, so they’re going to call an agent and say, “we need the four-bedroom or five-bedroom,” or “we want a larger lot,” or “we want a house with the master bedroom on the main floor,” or “a ranch style home without stairs,” or “a certain school district,” etc. (you get the idea). And they usually do not want to try to find that themselves. As real estate agents, can easily go into the MLS (which doesn’t include FSBOs) and pull up the specific criteria that they’re looking for.

Discount Home Buyers

The third type of buyer, the “discount buyer” will typically call you, the FSBO. They usually do not want a professional involved, like a real estate agent that knows the value of the property. Their job is to go out and try to shrewdly get the best deal they can on the house. They already know you won’t be paying a commission, so they tend to make low ball offers. Your hope, as a FSBO, is that they’re not as knowledgeable as you about the real estate market or homes in the area.

Unqualified Home Buyers

Lastly, the fourth type of buyer is the “unqualified buyer.” This buyer doesn’t
really have a chance to buy a house. This buyer may call us first, and then we always have a lender that will get buyers prequalified free of charge, and once the lender tells us that this buyer can’t even buy a home, can hardly lease a house, and we have to let them know (sadly), “Unfortunately, we are not able to help you.” Well, then they go after you, the FSBO, because you have no mechanism to get them prequalified. You end up getting into some type of long-term contract with them and at the very end find out that they were unable to buy the house in the first place. I’ve even seen it where they’ve moved into a house prior to closing and now you’ve got to try to get them out. It just becomes a legal nightmare. So you can see that, of the four types of buyers, the last two are the ones that you’re getting vs. the first two that we’re bringing to you, and this, unfortunately, greatly reduces you chance of selling your home.

1 Comment

  1. May 17, 2016    

    I thought this was interesting to see the types of home buyers. It all sounds about right to me. There are the people that need more, so they have to find a new house, and those that have to move far away. Personally, in the end, I think it’s best to have a professional help out.

Leave a Reply

Your email address will not be published. Required fields are marked *

Selling Your Home: Real Estate Marketing Plan

Selling Your Home: FREE Report

Sell Your Home Fast in Georgia GA Real Estate
Selling Your Home:
Learn the 9 Things Sellers Must Know Before Listing Their House on the Market
 
*Required

Ask John About Becoming a Real Estate Agent

Got a question about real estate?
Click the "Ask John" button above to ask now.

Our analytics reveal that many of our visitors are interested in becoming real estate agents. If you have a specific question about becoming a Realtor® I would love to hear from you.

Open House Events

Open House John Welch Georgia Real Estate

Open House: Sunday, June 12, 2016, 1PM to 4PM

Address:
3145 Cherbourg Court,
Marietta, GA 30062

Description: 4 beds | 4 baths | 2,755 sqft | $425,000 | Don't miss this opportunity! Three-sided brick home with fully finished basement in Dorset, a highly sought-after swim/tennis neighborhood with active homeowner's association. Lots of updates and upgrades - new windows, skylights, architectural roof, garage doors, keyless entry, professionally landscaped front with irrigation system, renovated master and upstairs bathrooms. Minutes away from historic Marietta, Roswell and Woodstock, public and national parks, Chattahoochee River, The Avenues of East Cobb, great restaurants and shopping. Learn more.


Open House in Marietta, Georgia

Open House: Sunday, Mar 6, 2016, 1PM to 4PM

Address:
4540 Hunting Hound Lane
Marietta, GA 30062

Description: 5 beds | 3 baths | 3,385 sqft | $350,000 | Exciting opportunity in fantastic East Cobb location, with award-winning schools, just waiting for someone to make this house shine. Lots of room for the money - 5 bedrooms, 3 full baths, large kitchen open to family room, sunroom usable year-round. Full basement with shop/workroom. Unfinished bonus room with stairs from garage area. Generous sized, gently sloping yard, space for gardening and plenty of parking. Best square footage for the money! Learn more.


03

Open House: Sunday, Jan 31, 2016, 2:00 to 5PM

Address:
445 Saddle Horn Circle,
Roswell, Georgia 30076

Description: 4 beds | 4 baths | 2,000 sqft | $369,900 | This 2000 square foot single family home has 4 bedrooms and 4.0 bathrooms. It is located at 445 Saddle Horn Cir Roswell, Georgia. The nearest schools are Hembree Springs, Elkins Pointe and Milton High. This home has beautiful golden hardwood floors throughout. The property has many beautiful trees, including a Magnolia outside the Breakfast Room bay window. Learn more.

Mortgage Rate Averages

Powered by GA Loan Rates