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The Different Profiles of Luxury Property Buyers that You Will Meet

5 Jun , 2015  

Working as a real estate agent does not only require knowing the market well, but also knowing how to decipher people. As a real estate agent, it is good to think of yourself as a match-maker…between the client and the property.

Although each individual client and property is unique, there are a few recurring characteristics that you can immediately learn to identify and get a clear idea of how to start reaching your targets whilst making your clients happy.

The Dreamers 

These are the ones who most often will spare no attention to detail and sometimes even less to costs. They are in search of their next dream home, one where they can make their visions materialise and that will fully complement their lifestyle. They can dream it, they can buy it, so they WILL acquire it and they are very excited about it all.

These buyers have unique tastes and look for a property that can spark their inspiration and where they can really picture themselves living.

“I can totally imagine myself curling up on a sofa with a good book in this corner here and read all afternoon.”

“We could have an outside lounge area with furniture and cushions just here and invite people over for an evening by the pool.”

“I’ve been looking for a large garden to escape to and grow my own fruit trees.”

“Look at that beautiful view! I would definitely love to wake up to that each morning.”

They will tell you about what they’re envisioning and what gets them excited. Don’t be afraid of dreaming with them and feeding their imagination. Show them round, make your own suggestions, use your own imagination. They want to see everything there is to see and although at times they might not already after something very specific, they tend to be the ones who know it when they see it.

The buying process, perhaps for this type of client more than the rest, should be an experience in itself and it could be a good experience for you as an agent as well, if you know how to make it happen.

The Investors

These people are after value for money above all else. They also have vision, but a different kind of vision. If they are going to be living in the property that they are looking to acquire, they will still look for comfort, a pleasant view and a place that complements their lifestyle, but they will most likely widen their thinking.

They may be more likely to opt for something that makes for a good rental investment and deemed to have good saleability on the market – a property that possesses those qualities that are always demanded. In this case, your focus as an agent should be more on logistics and the functionality of the place. You might be expected to answer questions such as;

What services and amenities are situated close by?

How many bedrooms and bathrooms are there?

Is there possibility for further development?

Is this a sought after location?

How does this property compare to other similar properties in different locations?

How likely is it that new buildings will come up and obstruct the panoramic view?

There’s a good chance that these clients are the ones who will be away for a lot or at least a good portion of the time and their reason for acquiring property might be that of having a pied-a-terre for whenever they decide to come back and therefore want to make a return on the asset they’re not really enjoying for themselves.

 The Relocators

 One word to keep in mind before the rest here; purpose. There is a good reason why these people are choosing to come all the way from a different country and set up life here, be it work, family, the lifestyle of the place or a mixture of all these.

If you know they are coming from overseas looking to set up residence, do not hold back from getting to know their background and their story if they are willing to share it. It will help you gain an insight into what they are after and which features of a home will best fulfill their requirements.

Is it proximity to their workplace or business?

Or a spacious home where the children can safely roam and play?

Do they have a particular habit or routine that they would like to be able to uphold easily from their new home?

Therefore in this case, start by defining their ultimate objective and try to relate as much as possible to what the client is picturing. When presenting different properties to this type of client, always point out how different features of that property will fit in with their picture.

Malta Sotheby’s International Realty is currently looking for letting associates to join the dynamic Malta team. Represent homes of exceptional quality in Malta with a global name synonymous with luxury and luxury living.

If you have experience within the local real estate market and a flair for luxury property that you can translate into an impeccable client experience send your CV to by end of June 2015 and visit our careers page.

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