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The Psychology of Buyers - Beating the Competition by Understanding Your Potential Buyers

April 25, 2012 | Comments: 0 | Views: 122

The Psychology of Buyers: Why some houses sell fast and for top-dollar, and others don't.

Buyers associate their physical needs to price and their emotional needs to perceived value.

In terms of the real estate sales and appraisal industries, pricing refers to what a house is listed for. Perceived value is what buyers feel when they come into your home. Thus, a home may meet all the physical requirements on buyers' checklists and they may even think that the price is in line with other seen properties. However, if a home is two-decades outdated, dirty, or in ill repair, even houses that are affordable and exceed buyers' physical needs may be rejected for another property.

On the other hand, add some emotional appeal, that which derives from implanting a sense of "moving up" and sentimentality, and you have added perceived value-a house buyers can't live without. Your house represents everything that they want to be! They're in love and will do everything possible to get your house! Whether moving up, down-sizing, or changing location, buyers are looking for a lifestyle that is either in line with how they currently live, or are aspiring to a higher style of living-Give them upgrades or aesthetics that are at least a step above what they may currently have. For example, a 90,000 house can be considered first-time-buyer worthy for those who currently rent. Most Renters (commonly 1st time buyers) don't have granite countertops, stainless steel appliances, or great outside living space. If it's in your budget (equity), upgrade these items to increase the EMULATION FACTOR. And increasing the emulator factor doesn't have to be a budget buster. Here are a few cheap ways to increase perceived value:

"Food and Wine" or travel magazines on a coffee table or kitchen counter: this says the sellers are well-traveled and connoisseurs of the finer things in life. Luxury.

Designer water, fresh fruits and vegetables and a yummy cake decorated with berries front and center in the refrigerator: this says the sellers are living a deliciously healthy life style. Fit and Healthy.

Setting a dining table for a family gathering/party: this says this is a family house that can accommodate large, happy crowds. Social, well-adjusted and happy.

Certainly as a seller, you'll be a buyer again soon too (to replace the home you're selling). Wouldn't you love to live a luxurious, healthy and happily social lifestyle, too? Same house, but the perceived value of the house just increased by suggesting a great lifestyle.

Is your home for sale but you're not sure who your buyers are and what they are looking for? Visit and post your question on our blog, or contact us there!

Source: EzineArticles
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Home Staging


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