Finding your best real estate target market

November 28, 2020
house survey

Downsizers won’t be interested in buying a mansion and the professional couple climbing the corporate ladder won’t be buying a family home in the suburbs. Besides the obvious, it’s key to sell real estate with your target market in mind. We have researched the top five homebuyers in Australia today to help you sell property sooner.

The investor

Using a head over heart approach, you need to market to an investor in almost an opposite way to an owner-occupier. Investors need to know the facts and numbers of the property they want to add to their growing portfolio.

When selling to an investor, the best approach is to sell based on the factors that will increase their cash flow. Investors want a positive return on investment, so focus on the expected rental return, the capital growth of the area and estimated depreciation deductions.

Numbers aside, highlight how the property is both a smart and easy investment decision. Maintenance is one of the highest expenses for investors so emphasising the low maintenance of the property is always a beneficial addition to the marketing mix.

The upsizer

An upsizer’s home is easy to spot – one with plenty of bedrooms and space to fit the whole family.

When selling to an upsizer, you want them to picture how the family will live in the property and get them emotionally sold on the property. Focus on the right spaces such as the yard, bedroom, floorplan and family room. Show the parents that the property features both child friendly zones and their own retreat.

The neighbourhood is also something that is key to getting their tick of approval. Safe communities that are close to local schools are something that all upsizers are looking for, to make their lifestyle easier.

The downsizer

On the opposite end of the scale to the upsizer, downsizers are looking for a new, much smaller place to call home.

One mistake many agents make is pigeon-holing downsizers to small apartments that are close to local amenities. While this can be the case for some, it’s important to remember that they are simply looking for a home that is both smaller than their current one and will suit their new kid-free lifestyle.

When selling to downsizers, you need to sell the property based on what they now want in their lifestyle. This can be focusing on how accessible or remote it is from the hustle and bustle of the city, and how secure the property is.

The days of renovating property are often long-gone for downsizers, so focusing on the quality finishes and fittings can also help you get them across the line for sale.

The professional couple (or single!)

Smart, efficient, and focused on their career. The professional couple will be ready to buy a property based on convenience, lifestyle and security.

Selling to professionals can put an agent in a unique position. They need to sell the home based on how it will complement the buyers work-life. Low maintenance with high security is often at the top of their list as they need somewhere to call home while they spend time travelling for work.

When an agent is selling a property to a professional couple, authentic and efficient communication is key. The buyer is aware of ‘marketing talk’ and won’t tolerate week-long replies from their agent.

The first home buyer

After using many saving strategies and giving up smashed avocado, the first home buyer is often full of excitement as they start looking for their home.

Agents must take a more holistic approach when selling to a first home buyer, focusing on value for money and potential. First home buyers want a home that they can both afford and grow into. They aren’t afraid of renovating and draw inspiration from popular shows like The Block.

Often younger and very tech savvy, you can use all the social media marketing strategies under the sun to get first home buyers engaged. You want to inspire them to imagine living in the property,where there’s space for both work and entertaining, and of course, the pet they can’t have at their current rental.

You might also enjoy:

The most effective way to communicate with your clients

How to use demographic data to help you sell property

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Our AI will create a personalised list of property matches for you to rank from over 100,000 available listings