How Interested is the Buyer - Industry Training Module 1

By: | 17 Aug, 2023

How Interested is the Buyer

How Interested is the Buyer with Daniel Spencer

The discussion with Daniel Spencer revolved around understanding the motivations and concerns of potential property buyers. The primary emphasis was on the changing real estate landscape for first-time buyers and those looking to upscale their homes. Daniel underscored the significance of identifying the buyer's core problem, highlighting the skyrocketing rent for first-home buyers and urging them to consider the financial implications of renting.

Daniel cited Bernard Salt's insights, indicating that the pandemic had altered housing preferences, with many over 50 individuals postponing retirement due to the limitations on travel. He anticipated a surge in property listings early the following year as these individuals decided to downsize, leading to a competitive market. Advising potential sellers, he urged them to sell them to avoid heightened competition in the future.

Regarding upsizers, Daniel pointed out that during the pandemic, there had been an increased demand for properties with three or more bedrooms to accommodate remote workspaces. He stressed the importance of addressing buyers' motivations for moving and recommended exploring hypothetical scenarios to understand their motivations better. He emphasised the value of making professional recommendations based on understanding their needs, as well as the significance of storytelling in conveying context to potential buyers.

Daniel emphasised the need to provide contextual information before presenting content, focusing on narrating success stories of buyers who faced similar challenges and found solutions. By sharing relatable narratives, Daniel asserted that buyers were more likely to engage and follow the process. He advised concentrating on the monthly repayment aspect to instil a sense of urgency, once initial interest was generated and objections were addressed.

To conclude, the discussion emphasised the importance of understanding buyers' concerns and motivations, anticipated shifts in the real estate market, and provided tailored recommendations and relatable stories to encourage engagement and expedite property deals.