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What Buyers Want: Understanding Your Consumer

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Are you putting a property up for sale on the market? If so, it’s important to keep in mind the key factors that buyers will take into account when shopping for a home. Knowing what buyers are looking for will help you improve your marketing and your sales pitch during open houses. Moreover, it’ll give you an idea of how to improve your offering and get your home ready for the market.

According to a BMO (Bank of Montreal) survey, here are the top concerns that buyers have when choosing a home:

1.  Safety

Is your home located in a safe neighbourhood? If so, highlight this detail in your advertising and your property description. If not, it might be worth taking extra steps to ensure that your home communicates a sense of security despite its location. For example, installing exterior lighting for single family homes, or building a fence around the property may make potential buyers feel more at ease. For condos, installing a security system is a good way of keeping the consumer’s safety in mind.

2. Move-in Ready

Buyers will favour homes that promise a minimal amount of required renovations and repairs. Even minor repairs will decrease the desirability of a home and will be weighed into the final purchase decision. Buyers see repairs as extra costs tacked onto the purchase price, and not all buyers will have the time or will to DIY. If you own an older home that is likely to be considered  a fixer-upper, read this post on which renovations will bring value to your sale.

3. Location

We all know that location is an important factor of consideration in a real estate purchase. But how do you make this work in your favour when marketing your home? Consumers place high importance on short or convenient commutes to work, quiet streets, greenery, and lifestyle benefits offered by the neighbourhood. Make sure part of your listing’s description covers the pro’s of living in your particular area. Is your home close to public transit? Is there a school nearby? What unique day and night activities does your borough offer? Consider including images of local scenery (such as the neighborhood park) amongst your listing photos.

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4. Curb Appeal

Improving your curb appeal can work wonders for your home’s perceived value. After all, the facade is the first thing a consumer will see when visiting your property. Small exterior touch-ups can make your home look well maintained, welcoming, and polished. Things to consider while boosting your curb appeal are: the condition of your doors, porch, lawn, and driveway.  To know more, read our post on 10 easy and effective ways to boost your home’s curb appeal.

5. Value

Lastly, buyers are keen on knowing that they’re getting good value for their money. Ask us for a free CMA via the form below to find out how your home scores in respect to other homes for sale in your neighbourhood. Does your home have unique offerings that will bring a high return on investment? Do homes on your street have a good track record of selling within a certain time period? Theses are all points you  can emphasize when giving  buyers a run-through on the current and future value of your offering.

 

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