home buyers have changed. have you...?

HOME BUYERS HAVE CHANGED. HAVE YOU?

Understand your customer's journey to buying a home.

Pranav PandyaFranchise Development ManagerRE/MAX Mumbai Gujarat Maharashtra

RE/MAX Mumbai Gujarat Maharashtra

SELL MORE HOME

Engage in Customer’s journey, not just the transaction


Consideration Introduce yourself and allow the lead to browse. Build a foundation for a long term relationship

Home buyers are thinking:

I want trends and high level information but I haven't even thought about talking to an agent.

Is now a good time to buy?

What areas should I consider?

What type of home do I want?

How far do I want to commute?


Leads in this stage are:

Just thinking about buying

Probably not talking with other agents

Noticing real estate related news and info

Seeking information from friends, family, and online


What you should do...

Contact them immediately, but don't sell

Let them know you're available for questions

Don't rush engagement, let them come to you

Get technology to track and engage over the long term


Test your knowledge 1/4

Which is a sign that a lead might be in the consideration phase?

Complaining about their current living situation on Facebook

Getting married and/or expecting children

Relocating for a new job

All of the above



Answer: All of the above

There are several small signals consumers give to show that they are in the consideration phase. Listen to your friends, family, and follow comments on social media.



76% of home buyers found their agent via a referral

True

False



Answer - False

According to a recent survey, only 40% of buyers found their agent via a referral and only 10% used an agent they worked with in the past. Nearly 1 in 3 found their agent online.



What percentage of home buyers are also sellers?

23%

43%

78%



Answer: 43%

According to a recent study of home buyers and sellers, almost half (43%) of all buyers also had a home to sell.



What's the main reason people search online for homes?

Browse listings

Find an agent

Get preapproved for a loan

All of the above



Answer: Browse Listings

The primary reason buyers go online is to browse listings. If you want buyers to visit your website, make sure it has listings, and lots of them!

Bottom line

Be known, but let them browse


Fast Fact


Online ResearchBe found where the leads are, online. Communicate on

their terms and aid them in their quest for information.

Home Buyers are thinking:

I’ve started browsing and researching online to get an idea

of what I want and what's available.

What can we afford in our area(s) of interest?

What are the demographics, schools, crime rates like in this area?

What financing options are available?



Browsing listings online, but still far from buying

Exploring what they want and what they can afford

More likely to communicate via web & email

Not ready to choose an agent, but need expertise



Be found online

Ensure your website is a source for information, not a sales or marketing pitch

Reach out on their terms. Don't rush a meeting.

Email with relevant information to develop trust and stay front of mind


Home Buyer Behaviour

55% Searched online during the home buying process

85% Who performed research online visited the website of an agent

75% Registered on a website to receive listing alerts


Information Consumers are Gathering Online

Details about homes on the market

Neighbourhood and school information

Specific market conditions

Tips on purchasing a home

What homes are worth in their area

Bottom line

Increase Your Online Presence


Active SearchTime to meet leads face-to-face and show them why you're the best agent in town. But, don't lose them before you get here.


We have a rough idea of what we want and want to start touring properties with an agent.

How many homes have you sold in the past year?

How well do you know the areas I'm interested in?

What do you recommend based on our budget and needs?

Do you have connections that can make this process easier?



Ready to tour homes in-person with an agent

Aware what they want and what they can afford

Want specifics about the buying process

Need recommendations based on experience



Be available to meet in person and tour homes

Offer recommendations based on their criteria

Provide specifics on the home buying process

Respond quickly


Triggers that begin the buying process

Found a house they Liked

Family Reason Retirement/Downsizing Tired of Paying Rent Other reason

14.8

10.1

6.7

4.2

2.4


Fast Facts


1-2-3

Top three traits buyers look for when choosing an agent

1. Honesty and Trust

2. Knowledge of Local Area

3. Reputation

Bottom line

Buyers in this stage already have an agent in mind


Transaction Provide exceptional service and guidance. Give customers a reason to promote your services.


We need an agent to negotiate contracts and advise and guide us through the process.

What's the process for buying a home? What are the milestones?

How much should we offer for this home?

What are the contingencies? Can I lose my earnest money?

Are we competing with other buyers?

How long after closing can we move in?



Ready to buy a home

Curious about the process (appraisal, etc)

Wondering if they are getting a good deal

Concerned about timelines and logistics



Display your expertise

Guide them through the process

Provide resources and referrals

Do what's best for your customer


Buyers Need

Assistance finding a home

Suggestions for home inspectors and financing companies

Clarification of inspection reports and contract details

Help negotiating terms of sale


Sellers Need

Assistance in pricing their home

Help marketing their property to buyers

A liaison between themselves and buyers

Support with contracts and negotiations

Bottom line

Give Them a Reason to work with You again


Post-SaleKeep in touch with your customers to ensure repeat business and referrals.


I want to know if my property is going up in value or not and what is trending in the market place.

I want to know about changes in my home's value.

I would like to receive updates about my local real estate market.

My friend is looking to buy a home, who should I refer them to?



Comfortable in their day-to-day

Not thinking about real estate

Appreciate information about their home's value

Likely to buy again in 5 to 7 years



Use automation tools to stay in touch

Provide gentle reminders of their home's value and market conditions

Connect with them on Social Media

Ask for referrals


Would you be one of them?


Stay in Touch

Simple gestures are a great way to show a customer you care.

Here are several ways to continue your relationship and increase the likelihood of referrals and future business with your customers.

Bottom line

Generate repeat Business

Thank You

home buyers have changed. have you...?

Real Estate

percentage of home buyers

home buying process

recent study of home

type of home

online details

online presence

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