In this real estate vlog Henry Wong from Harcourts Beyond highlights the differences between active vs passive real estate buyers, and why its important real estate agents appeal to both.
“We’re here today to talk about the concept of active buyers and passive buyers. Now, active buyers, these are buyers that have heard of your home. They’ve seen it on realestate.com.au and domain.com.au. They’re looking every day or every week. Whether you choose to sell the house yourself, or you’re getting an agent to sell, you’re going to find these exact same buyers.
Passive buyers on the other hand, they’re not actively looking. So you kind of want to find them. They may not have even heard of your suburb, so you can’t find them either. Let me illustrate. So you have active buyers and passive buyers. Now passive buyers are a much bigger circle. The reason why? There are more people that have never heard of your home than those that have heard of your home.
The key is to get the maximum price, is that you need to find an agent or someone that has access to the active buyers, as well as the passive buyers. Now, the question is, how do you know if they have a lot of passive buyers? Well, if they have a track record of selling houses off market, and also if they have a large social media following.
When I say social media following, have a look at how many followers they have on Facebook, on Instagram, on YouTube, on LinkedIn, or any of those other platforms. Because if they have actually built a following where followers are engaging with them, chances are they probably have a decent following or decent database of passive buyers.”
Henry is a real estate agent operating on the south side of Brisbane. Get in touch with him for answers to all your real estate questions.