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What Buyers Really Want And How You Can Sell More To Them!

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What Buyers Really Want And How You Can Sell More To Them!

Author : Bubba Mills

Submitted : 2014-01-11 08:45:05    Word Count : 591    Popularity:   Not Rated

Tags:   Bubba Mills, Corcoran Consulting, real estate, Realtor, residential broker, real estate advice, Realtor advice, real estate agent, successful Realtor, real estate success

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Say what you will about surveys, but they can offer good information that can add money to your bank account.

This year, three organizations unveiled new findings about what buyers are really wanting these days - information that can help you finish 2013 on a positive note. These groups included The National Association of REALTORS®, the National Association of Home Builders and Consumer Reports.

I've taken the liberty of condensing the findings here, but I've also added an extra bonus: how you can use these findings to sell more homes.

First, the findings. Home buyers want:

1. Shorter commutes - A home that's reasonably close to work. During the last housing boom, people were willing to venture into the suburbs for a home they could afford. Now that trend is reversing, especially among first-time homebuyers. A website to share with your buyers is http://htaindex.cnt.org. It measures a home's true cost based on its location.

2. Efficient homes - A place with energy-star-rated appliances and windows (and ceiling fans are a plus these days). Folks now think more about the quality of space and not just the quantity. A well-designed 2,000-square-foot home might work better than a poorly planned 3,000-square-foot house. Consider getting NAR's green designation to stand out as an energy-conscious agent or broker.

3. Lots and lots of storage - Homes with linen closets, walk-in pantries and garage space are hot now. Today's homebuyers are seeing their lives in a more realistic way -- thinking about how they live day in and day out, instead of falling for a fantasy version of what life might be. So storing towels, sheets, and bulk items carry weight now. Well over half of those surveyed say a laundry room is "essential."

4. Affordability - A home that doesn't break the bank. Buyers today are facing tighter credit standards. So naturally they're concerned about getting a mortgage. Contact me for a free handout called "The 7 most important questions to ask your loan agent before starting the mortgage process" that'll help you discuss finances with buyers.

5. A connection to the outdoors - A home with a front porch looks especially good to buyers today. People want to spend time outdoors and get to know their neighbors. A block filled with homes with active front porches will feel a lot different from one with a line of garage doors. Backyard patios and decks are also nice plusses. And be sure to stress any nearby open spaces.There you have it -- some important tidbits to keep in mind as you go about your daily business of selling homes. But as important as those findings are, they don't mean anything if you don't go a little deeper to realize they're only features. Remember, features don't sell - benefits do the hard work of actually getting buyers to part with their money.

Features are the physical, tangible - the walk-in closet, the big garage. Benefits are the non-physical, emotional, intangible reactions to features.

When you sell a benefit, you still describe the feature, but you tie it in ways to improve the customer's life. So, for example, when you're showing a home with a walk-in closet, talk about the benefits of that space. "No more tripping over stuff, plus it'll look clean all the time!"

So yes, knowing the features of the home are vital, but sharing the benefits are more important in making the prospective buyer fall in love with those features.

Author's Resource Box

Bubba Mills is chief operating officer and managing partner of Corcoran Consulting Inc. (800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential broker or agents existing practice.

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