Where are the home buyers you need to be marketing to now?
Is your real estate investing marketing missing the most important target market? Who do you need to be focusing on to sell more houses and where can you find them?
According to the latest research and a survey published by Inman News the bulk of the buying force out there is made up of Generation X and Generation Y. They are not only the biggest demographic who are first time home buyers but don’t seem fazed by recent market fluctuations either.
Many of this group were unaffected by the foreclosure crisis and are just getting around to buying homes and investing in real estate now. They are coming into money and want to spend it, they see the value of homeownership and they want to create more wealth and get ahead for retirement.
More than just being interested in investing in real estate they are willing to make sacrifices to do it too. The recent survey showed more than 60% were willing to eat out less, 40% would take on a second job and 23% would even temporarily move back in with their parents in order to save up the down payment.
So how can real estate investing pros catch and capitalize on more Gen X and Gen Y home buyers?
Many say they are ready to pull the trigger when they’ve landed a secure job. This brings up an interesting marketing and networking angle that may be untapped in many areas. That is forging strategic referral partnerships with local businesses and recruiters.
These prospective home buyers also revealed what they are researching before making the move. Over 50% said prices in individual neighborhoods, interest rates and ability to get a home loan. So this is likely the ads and content you need to attract and capture these leads first.
The CEO and President of Better Homes and Gardens, commenting on the report and what was important for real estate professionals who wanted to succeed said “to adapt their business to best serve these two generations that will drive the economy for the next 30 years”. So if you want to flip more homes and stay in the lead, get good at connecting with and marketing to these buyers.