Figuring Out Buyer behavior Pt 2

When customers pick from a set of alternatives, the factors of price, quality and style all play a factor. However, with my specific segment that geographic location is also a big factor since my idea has to do with the real estate/development market. Generally, in this market a combination of factors comes into play when customers make decisions. With my idea, price, quality and location are probably the biggest factors that play into making decisions. With my segment of real estate, the start of the transaction typically begins online with the customer looking at potential real estate online. Once finding property that the customer is interested in, they would then proceed to contact the real estate company that is selling the property. From here they can go between meeting in the real estate company’s office or meeting at the site of the property being sold. In this market typically everything is a financed purchase, although paying cash in full is a negotiation strategy used often. What typically matters most to customers in their determination of “rightness” is finding a place that they can call home and are happy living in that also works well for their family. What ultimately plays into determining if their purchase was a good idea is how satisfied they are overall with the combination of factors that play into their property they purchased. Through price, quality, location and style, the combination of these factors and how the customer feels about each one will go to determine how satisfied they are as well as their experience of working with the real estate company. From this new round of interviews, I have found that all three people I interviewed agree with what I have previously stated. With something as big of a purchase as real estate, all three people I interviewed agreed that many factors play into making a big purchase like this. While location, style, price and quality are all determining factors for purchasing property, I heard two of the interviewees note that there are many other factors that can apply to each customer depending on their experience in buying real estate. From interviews, I have learned that there are many factors that go into the real estate purchasing process and can be difficult for people to buy if they’re not being pushed to buy. Post-purchase however, the customer’s decision can leave them extremely satisfied since buying real estate is such a big purchase. Additionally if the customer has a good experience with one real estate company they are highly likely to work with them again should they decide to buy a new home or apartment.