Know your Buyer’s needs and wants
It happened so many times to me when I entered a shop and a shop assistant started to sell me something on the basis of very initial questions. For example, I needed a vacuum cleaner and I was asked only about a price range. After half an hour of walking through almost all of the vacuum cleaners available within the price range… approximate price range… all other models, I usually got tired and just leave home for a further consideration. Obviously, it is a bad strategy when the Seller was enthusiastic and busy, I, as a Buyer, got a lot of information which I did not really need and even remembered and waste of time for both of us without this sweet word DEAL! It would be much easier to sell, if a shop assistant asked first about my wants and needs and try to satisfy them.
Price is important, but not everything!
It is important to know the Buyer’s budget. But it is really not enough to get successful sales. Of cause, there is nothing to do if the bank has already estimated the maximum amount of mortgage for the Buyer. In this case Buyers will stick to the price and if you cannot adjust it accordingly, do not waste your time. Who is the next in a queue? And it is better to have some genuine Buyers, who can afford and is willing to pay you an asking price. Here niche marketing is coming to the place!
Remember the buyers who find just what they are looking for, often pay a premium.
Needs and wants vs your house features
The most important is to know how your Buyer’s needs and wants meet your house features. Actually, first of all we need to define who are your Buyers and reach the right target market. Not all of Buyers are equally valuable, we will need to use a selection tool to choose an exact right person who definitely needs and wants your particular house with the list of important features met, the greatest benefit is it is both cost and time effective whilst enjoying strong results. Only in this case the desired win/win situation is possible. Some one is looking for your house we just need to help him to find that we are selling!
Today, real estate agents must have a comprehensive knowledge of marketing to be successful. At the broadest level, the function of marketing activities is to bring buyers and sellers together, which is defined as seeking to influence voluntary exchange transactions between a customer and a marketer.
The quote from real estate analyst David Pilling sums up this concept:
‘Let us clearly understand one immutable fact about real estate. As long as you’re in this industry, you will never sell a property. This is because you will never sell a property to someone who doesn’t want it, nor will you keep from selling a property to someone who loves it. We don’t sell property. We market and negotiate.’
The importance of the focus of marketing is to reach the right people, by accurately identifying target markets by their common characteristics, and assessing their specific needs and desires. Being able to successfully match properties to the correct target markets and effectively communicating with these groups of people through marketing campaigns is the key.
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