Archive for the ‘advice on home selling’ Category

Home Selling Tips: Looking for Your Target Market

Monday, April 2nd, 2012

Home selling is difficult if supply is higher than demand. A buyer's market poses an extra challenge to sellers, but it does not mean that it will be impossible to secure a sale. Sometimes, going beyond the ordinary may be the key that will bring you success in this venture.

Home Selling Tips - Looking for Your Target Market

During a buyer's market, competition will be tight as sellers compete for the attention of the small number of potential buyers. During such times, you may want to look elsewhere for your buyer. There are a lot of buyers out there who may not be your usual potential homeowners, but may still be interested in purchasing a home. Here are some of them.

1. Multi-generation families. Because of economic difficulties, a lot of families live together under one roof. This may be comprised of two or three generations, with the parents, grandparents and children all living in the same house. They are not as common as a typical family, so they are usually overlooked in marketing, but they can provide you with a target market that may be as good, or even better, than traditional family buyers.

2. Single parents. A lot of women in particular are opting to lead a single life, but are also opting to have kids on their own. Adopting a baby has become quite common among women in their mid-30s or early 40s and majority of these women are successful in their careers and are financially stable. They usually have a different type of home in mind, with multiple rooms not really their concern as they only have themselves and their baby to worry about.

3. Younger homeowners. An increasing number of teenagers are moving out of their parents' house and are living on their own. Their tastes in houses may be more flamboyant and more luxurious and they present a different niche market for sellers. If these teenagers can afford to move out of their family homes, then they can also afford to buy a fancy house and you may be the one to cater to their needs.

4. Retirees. The Baby Boomers are retiring and this would mean that some of them will be looking for a house in a quiet neighborhood. Oceanfront properties are usually popular among retirees, since their main priority will be peace and quiet. Houses within shouting distance of hospitals, grocery stores and other basic establishments will also be popular among these homebuyers. Although a number of Baby Boomers would prefer to stay in old-age homes, others would still prefer to have their own property and privacy.

5. Young people living together. There may not be many of them, but it is a fact that there are young students or young professionals who are opting to live together to defray household costs. These potential buyers are not looking for fancy, luxury dwellings; just functional houses located in areas near their schools or places of work, but are also within easy distance of places where they can have fun. The changing profile of buyers has created a lot of home selling opportunities, it is just a matter of finding your own target market.

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