If you’re getting ready to cruise the market and find a new home, a good first step is knowing the types of real estate buyers that exist. Not only will this teach you the do’s and don’t, it will help in defining the type of buyer you are! Knowing your buyer profile will help you navigate this huge transaction.

Real Estate is a big investment, it’s a big portion of your money and a huge part of your life. Especially with first time home buyers, the process can be anxiety ridden. Even more so if you don’t have a real estate agent who is patient and understanding throughout the process. This category is surprisingly a larger percentage of the buying population than you might think… the nervousness is just often contained behind closed doors (especially if buyers aren’t given a safe platform to express their concerns).

Biggest Attributes

• lots of questions
• have not bought/sold real estate frequently or ever
• money conscious
• anxiety or heightened nerves
• uncertainty about the process
• unsure of what they want

Disclaimer

If this is you, you are NOT the first or last nervous buyer your real estate agent will work with. Our jobs are a lot more than buying and selling houses. We are therapists, interior designers, project managers, movers and most importantly, friends. Most are self-proclaimed and not on a professional level of course… but those who are truly here for YOU, are here to be a trusted advisor in more areas than just the transaction and flow of money.

The laid back seasoned buyer usually has trust in the process and peace of mind that the right property will be found. You won’t be this type of buyer unless you’ve been through a few real estate ups and downs! Trusting the process doesn’t mean assuming everything will go right, it’s trusting your hired professional’s ability to be resourceful and knowledgeable.

Biggest Attributes

• understands the process
• hires a real estate agent they believe in and trust
• prepared financially and legally
• knows not everything will always go right or to plan
• is resourceful

Disclaimer

No buyer is laid back ALL the time! There are periods of uncertainty in any real estate transaction and all types of real estate buyers are in balance with other types.

Attributes overlap with those of the laid back seasoned buyer without the same level of care. It is never good to be completely hands off. While yes, as your Realtor I’m here to be the brains and executor, your input is invaluable! YOU are the one buying, so YOU are the one who needs to make sure you know everything about the process. Your contribution is integral to ensuring you are happy with the outcome of any transaction.

Biggest Attributes

• no questions
• may or may not have sold/bought real estate before
• not focused on finances or legalities
• at peace about the entire process
• may or may not be sure of what they want
• full trust in professionals
• not engaged

Disclaimer

Learn when to be hands off and when not to be. There are aspects of this that can work well in balance with nerves, but only if you’ve reached a level of understanding and education. Being hands off and being oblivious are different things – never let it reach the point of oblivion.

Being an investor isn’t as easy as buying a property and renting it out. Investing is a numbers game; it’s a long term plan. Investments can be as simple as your first home with an income property in the basement, but that doesn’t make you an investor buyer. This type of buyer is buying property for the purpose of flipping, re-selling or long term financial gain. They know where and when to buy pre-construction and the risks. They are willing to take calculated risks.

Biggest Attributes

• questions focused on comparables and the long game
• most likely have bought or sold real estate before
• certain about the process
• knows what they are looking for
• have trusted professionals to rely on
• will ask questions when they need to
• understand there are things they don’t know and know who to ask

Disclaimer

Focused on the end game and financial outcome of the interaction more than the property itself in its current condition. Investment buying is very different than buying personal and is a different mind frame for the buyer.

You guessed it… the average buyer is a blend of all of the other types of real estate buyers. They know enough, but not everything. They can be nervous about moving as a whole, but at ease that each of the steps will be properly taken care of with a caring, knowledgeable and determined professional on their team. They’ll be anxious at offer time, be thorough but not nitpick at inspections and overall are excited about the process of buying and moving.

Biggest Attributes

• questions focused on comparables and the long game
• most likely have bought or sold real estate before
• certain about the process
• knows what they are looking for
• have trusted professionals to rely on
• will ask questions when they need to
• understand there are things they don’t know and know who to ask

Disclaimer

Achieving this happy medium is not going to happen on your first buy, maybe not even your second! There is A LOT to any real estate transaction and a lot to know to provide a solid foundation before you’ll have the emotional ease to get to this place. There are aspects of all other buyer types in this one type because every day will be a different experience, and that’s okay!

This is definitely not a conclusive list of the types of real estate buyers that exist. It’s a framework for the most common types I see, but there are a lot of others out there! I’d love your input on other attributes you feel resonate with you when buying real estate and what type of buyer you’d be. Let me know in the comments or send me a message to talk about it!

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