Marketing For The New Age In Home Buying

 

 

We continue to see data showing that the average age for first-time homebuyers is now around 40 and may continue to rise as economic challenges dictate. As a real estate research and marketing specialist, I continue to see brokers who would benefit significantly by doing more research toward better identifying their target audience. Knowing exactly who you need to reach is very helpful in determining how best to reach them. You need to be where your target audience is.

The below linked article goes as far as to show the average first-time homebuyer age for several large municipalities. That tells me that such info can be found for plenty more municipalities, and likely for your farm area or location(s) of concentration.

Finding your target audience can vary from city to city, based on the local economy, amenities, and ethnicity. Your target audience for properties you work on might be families, individuals, or people that stay within certain areas for any of the aforementioned reasons. To put it another way, a 40 year-old single person living in San Francisco is likely to have different habits and needs than if they lived in Fargo, ND. 

One way to learn their habits and where you can find them is by direct observation. I still remember a story I read many years ago about a rock band which did a lot of live concerts. They would have members of the stage crew and wives or girlfriends of band members scatter and go further out into the audience during their shows acting as fans of the group. Their mission was really to notice which songs got the crowd around them to rise, which ones they liked to sing along with, and to hear the “Oh, I wish they would do (name of song)” type comments. 

Over the course of their tour, the band adjusted their set list and parts of their presentation as a result of direct and unsolicited reactions. They listened to their target audience and doing so led to an increase in album sales and concert ticket sales!

If you have a listing which would appeal to a buyer in the 40-year old age range, check out restaurants, shopping, entertainment, and places where your audience goes. Listen in on what their concerns are. Think of that rock band, and think of how one comment you hear or observation you make could help you be “first in” to get your listing sold.

In real estate, research and marketing go a long way toward success!

 

https://www.investopedia.com/you-just-turned-35-and-dont-own-a-home-yet-see-how-us-adults-compare-11875760