What type of buyer are you?
Depending on how you take to the process, house hunting and purchasing a property can bring out very different sides of buyers’ personalities. Some buyers thrive on being able to negotiate hard, while others find change and moving very overwhelming. What type of buyer are you? Take the following Buyer Personality Test to find out!
1. If you were a property for sale, you would describe yourself as:
2. When faced with a confronting situation you usually respond by:
3. How do you respond to new technology?
4. The idea of buying a property at auction makes you feel:
5. At an open inspection you:
6. You’ve just received the keys to your new property. You feel:
7. When it comes to choosing a location, the most important thing to you is:
You thrive at a challenge and the ability to bargain and negotiate runs thick through your blood. Everything is down pat, there’s not a stone unturned in the buying process and the deal goes off without a hitch. You’ve done this before and you plan to keep putting your property skills to good use in the future.
Analysis: Master Negotiators represent the most popular buyer personality type and are also highest in the seasoned investor segment. Seasoned investors are most likely to have had a lot of practice with buying and selling properties over the years. Seasoned investors are lowest in the Digital Mogul category however, and with the property market embracing digital technology it is important for buyers to stay educated and proficient in this area.
Utilise search portals such as realestateview.com.au and the additional features offered such as local sales data and expert advice on the process. Use the applications on your smartphone at open for inspections and auctions to be in the know and have the most up to date information at your fingertips. Master Negotiators risk not being ahead of the game by not embracing the benefits of new technologies.
You manage everything to do with researching and purchasing on your smartphone, tablet and computer. If you could, you’d also negotiate the actual property purchase through email only – it’s so easy! Digital is a way of life for you and it just makes sense to continue this when it comes to buying a property.
Analysis: Digital Moguls are the second highest buyer personality type overall but also also highest in the next home buyer – upsizing category. With technology continuing to play an increasing role in our everyday lives, we may see this segment increasing in the near future as more and more buyers embrace digital tools. Don’t forget however that face-to-face and first-hand interaction still play a big part in researching, getting a feel for a property and building relationships with real estate agents. You can’t beat seeing a property for yourself and meeting agents in person to be on the front foot for negotiations and updates.
You prefer to be on the periphery and let others take charge of the purchase. As long as it takes place, that’s all that matters. You’re happy to give advice, but you don’t take the credit. Instead, you’d rather encourage others to be researching the right information – be it home loans, recent sales or schools in the area – and reap the rewards.
Analysis: The Supervisor personality type represents just over 20 per cent of overall buyers but is also highest in the first home buyer segment. This isn’t surprising as first home buyers are less experienced and are more likely to let others take charge of the buying process.
If you are a Supervisor, you have an important role to play in encouraging others but don’t forget about yourself! As a buyer you need to educate yourself and become confident in topics such as sales and auction results to ensure you are making informed decision.
Paperwork makes you anxious, going to open inspections is a fretful experience and the idea of committing to uprooting and moving is almost too much to fathom! Change worries you and everything to do with buying seems overwhelming, you’d almost prefer to stay put and avoid the hassle.
Analysis: Stressed shifters represent the lowest percentage of buyers, coming in at 17.5 per cent. This personality type is highest amongst next home buyers – downsizing who may be concerned about what this life stage change means for them and their family.
Relying on your experience and getting help and advice from real estate agents, friends and family will ensure you are as equipped as possible for the house hunting and property buying process. This is an important event for you and a big investment, so it is integral to remain calm and level-headed to stay on top of the process. Make sure you are armed with all the information you need, don’t be afraid to ask questions about the process or the property – that’s what the agents are for. Read around articles about the suburbs and get as much advice as you can from property websites.