A challenge many Sydney property buyers face is having access to everything that’s potentially available to buy- thats both on and off-market properties.
My Buyer Pyramid may help explain why you’re missing out on some great opportunities.
Green zone buyers are at the top of the pyramid and include:
- buyers that also have a property to SELL (sales agents will do anything to win that buyers sales listing)
- buyers that have relationships with the sales agents via a good buyers agent, have bought locally before or maintain friendships with the agents.
- buyers who have missed out on a few properties, are tired, desperate, ready to stretch their budget and act quickly
Green zone buyers aren’t scrolling through Domain. Their buyers agents and multiple sales agents are calling these buyers with good offmarket properties, sometimes even before they’re signed up for sale.
And if these good properties are going on-market you can bet that a green zone buyer gets preferential treatment when negotiating price and terms.
Blue zone buyers are in the middle of the pyramid and include:
- buyers who are regularly seen at open homes
- buyers who pick up the phone when agents call, and give honest feedback
- buyers who request and review contracts
Blue zone buyers are generally signalling that they’re serious and they do receive more attention and consideration than the average house hunter.
Red zone buyers are at the bottom of the pyramid and do the following:
- half heartedly inspecting properties for months, or years
- don’t return agent calls
- verbally negative at open homes
- unrealistic or unaware of current market prices
Red zone buyers aren’t taken seriously by agents.They will miss out on seeing the best properties available and will find it difficult to negotiate effectively if they ever do decide to make offers.
If you’re finding your property search particularly challenging it may be worthwhile asking… which buyer are you?