Finding Your Target MarketPosted on 03/14/14
Any good marketer knows the fundamentals for an effective campaign. One of those is creating an accurate picture of who your consumer is. The real estate industry is no different. We find ourselves asking the same, simple question: Without knowing who we are selling to, how can we sell successfully?
The National Association of Realtors® predicts existing-home sales will hold steady this year, while prices continue to rise. Couple that with stagnant incomes, and potential homebuyers could find themselves buying outs. With these market shifts, it could be time to devise, or maybe revise, a strategy to reach your desired consumer group.
Consider targeting some different key client groups. Try reaching out to first-time homebuyers. Mortgage rates are still at historic lows and this is a group that needs professional guidance for what could be the most significant financial transaction of their lives. Looking to past and current clients referrals is a good way to find these buyers.
Another way to increase your lead pipeline is to connect with investors. Become their go to resource. Now that prices are rising, investors who bought low may be ready to sell high.
Try searching for distressed homeowners. Although not as prevalent as a few years ago, short-sales and foreclosures are still occurring. Make yourself available to guide them through the process.
No matter what the market does, you control your own results. Making a business plan will only help you to establish your niche in Northwest Florida real estate market.