Do you think sellers have a crystal ball that helps them understand the psychology of their buyers and whether or not they are serious enough to make a reasonable offer? Of course not. All buyers present themselves as someone who is interested and is willing to pay if they found the product or service good enough.
However, this is not always the case. Certain characteristics show whether or not a buyer is either serious of just there to waste your time. Here we will tell you five amazing tips that are going to make you a kickass mind-reader.
Your buyer has just recently started their search
This is buyer psychology 101, as it is one of the most common behaviour traits shown by a buyer while shopping. If a buyer is serious, they will be well-researched on the recent market prices and will know the right questions to ask.
Buyers often seem to have a question ready in their minds as soon as you show them the product. This kind of behaviour often comes along with them leaving the shop within a few minutes. Again, this is not a good sign for you as a seller.
Most buyers don’t buy the first item presented to them; they will make some other stops to see if they can get a better value. For example, when buying a house, a buyer searches for months on the internet, within the locality or talk to some real estate buyers. If they are in the early stages of their research, chances are he or she may not make a purchase.
Buyers lie, A LOT! You must have heard the phrase. “actions speak louder than words,” well words, these fit perfectly here. Buyers will often make promises that they are more likely to place a bid or make an offer, but in reality, they are just doing what some might call, “Window Shopping.” Chances are they are just putting their feet in the market and compare different products in a similar industry.
The buyer can’t afford the product
Sometimes, buyers are actually interested but haven’t consulted a mortgage specialist yet, and it might be the case, the property they have their eyes on, doesn’t suit their financial capacity. Remember, a buyer cannot make a firm decision over purchase unless they have pre-approved the decision from a mortgage broker to get the ball rolling.
Making a significant lowball offer
Some times a buyer tends to rush into different products. You might start feeling that they are going to buy stuff in a huge quantity of different products altogether. Well, we have to bring bad news to you, but this might not be the situation here.
Buyers looking to make a purchase will take their time learning about a product and will have certain questions related to services after the item has been purchased and will genuinely hear you.
You can put your buyers at the barrel of the gun, asking them to make an offer you would want them to make. Buyers often show this kind of behaviour wherein the name of negotiation, they carry out bantering with a price, which is so low that it breaks all ties of a deal. They put forward preposterous numbers that immediately show their non-serious behaviour.
This is also a very common attribute you’ll see in a buyer where it seems almost impossible to please them. This may not always be the case of the buyer having a specific taste or style, which is hard to find. This is the case of looking for faults in everything to make sure they don’t have to buy the product or service from you.
You can sense this kind of behavior when they are finding it easier to be unhappy about the smallest of issues, some here some there. This shows that the buyer had nothing better to do than come here and waste your valuable time.
“Time is money.”
Consumer behavior is very unpredictable and requires experience and negotiation skills to understand how you can their psychology can be understood and may be altered. As a seller, your time is important, and we hope this article helps you keep a distance from all the banters and increases your performance.