Have you just entered the world of real estate agents? If so, then you must understand the various characteristics of property consumers. These types of consumers can later help you set the right marketing strategy.
For example, the sales method for potential customers is certainly different from the tactics you apply to experienced customers, right? Yes, where this will ultimately affect property sales targets. So, therefore, let’s get to know the various types of property consumers!
5 Characteristics of Property Consumers
In the process of recognizing and finding a product that they want to buy, consumers will go through various stages or processes. This stage is known as the buyer’s journey, which usually starts from the stage of getting to know a product, gathering relevant information, finding out the available options, to purchasing decisions.
The buyer’s journey of each consumer is also different, not least in the property industry in Indonesia. Therefore, it would be a convenience and a distinct benefit if you, as a property agent, understood the characteristics of property consumers as below.
The first characteristic of property consumers is that they are first-time buyers. As the name suggests, a first time buyer is a type of consumer who doesn’t have much knowledge and experience in the property world or is just trying to get into buying property.
The main characteristics of these first time buyers are that they have enthusiasm and a high level of sensitivity when receiving new information. Even in making purchasing decisions, first time buyers usually take up to 9 months after they know and are familiar with property products, this is based on a survey conducted by IPSOS.
Therefore, you need to prepare yourself to be enthusiastic and polite in answering and explaining information to this type of property consumer who often asks questions starting from small things.
Millennial buyers are the types of property consumers who buy property for the first time. Millennial buyers are actually almost similar to the first type of consumer, only the difference between the two is their mental maturity and age level.
The age level of millennial buyers starts with those who were born from 1980 to 1995. Generally, they still have impulsive characteristics. This type of property consumer can also be said to be at a productive age with a high enthusiasm for owning a house.
The characteristics of millennial buyers’ property Consumers usually like practical and simple houses, so you can prepare various cluster references or apartments as their dream minimalist residence.
For a more effective approach, you can deal with this type of millennial buyer property consumer by adapting a casual but still polite style of clothing. You may also get a lot of questions beyond expectations considering the characteristics of the millennial type are critical and like details.
The characteristics of the third property consumer are quite different from the previous types of consumers. An upgrader type is a person who has knowledge and experience in the property industry because they have bought their first property.
Most of these types of upgrade consumers buy new properties with a larger area after considering the needs of their families, or even for their children who are starting to grow up.
Therefore, upgraders usually look for homes with safe and complete home features, ranging from 3-4 bedrooms, bathrooms with bathtubs, to swimming pools and garden areas.
Because they have previous experience, the characteristics of this property’s consumers are more thorough regarding the selection of buildings, furniture, and others. However, they also tend to want to move faster when making property purchase decisions. According to a survey from IPSOS, the type of consumer upgrade determines the average purchase decision in the 8th and 9th months.
If the upgrader is looking for a property that is wider than before, then the down buyer is the opposite. Don’t think that the characteristics of property consumers always want bigger housing, because even though they are rarely found, in fact this type of down buyer does exist!
Mostly, down buyers want to find peace and live a simple life before old age by moving to simpler housing. If you meet a down buyer, their characteristics are generally experienced, they may even be reliable property investors.
Therefore, the following characteristics of property consumers require valid information that can convince them to buy property from you. You can make a house with a calm and beautiful environment, accompanied by two bedrooms, as the best reference for them.
The last property consumer characteristic is that of investors. It is undeniable that the property business is one of the most sought after investment assets by the public, therefore it is likely that you will often encounter this type of consumer.
This group of investors is the type of consumer who buys property or buildings not as private residences but to be rented or resold for profit. They make property assets as a business to continue to make money.
Of course, due to the building that will be purchased for business purposes, the following characteristics of property consumers are usually very critical and well understood in the property sector. You will most likely be asked to provide as accurate and detailed information as possible.
In addition, they will usually also negotiate to get the best price because their goal of buying is to get the maximum income too, so prepare your best negotiating skills, okay!
That’s information about the characteristics of property consumers should recognize. One of the keys to the success of property marketing lies in choosing a strategy, which starts with understanding the types of consumers!