Appealing to younger home buyers when selling a home
June 28, 2011
While those looking to sell a home don't want to limit themselves to a small segment of the potential home buyer market, it could be worth their time to focus on marketing tactics that appeal to younger first-time home buyers. That's because this portion of the home buying
market could be the most mobile in the coming years, according to the National Association of Home Builders (NAHB). Younger Americans are considered to be a top candidate to become home buyers because they'll need new homes to accommodate their growing families, reports NAHB. As a result, it could be helpful for home sellers to provide tools and resources that can put these home buyers in better contact with them.
Provide plenty of information - and fast
Younger home buyers are more connected to the world through the internet, social media and mobile devices, reports the National Association of Realtors (NAR). Home sellers could use that to their advantage by working with a real estate agent that knows how to market in a digital world. Online listings need to provide plenty of detail on the home's layout, look and amenities, because young home buyers prefer to digest that information on their own before paying a visit to an open house, reports NAR.
Additionally, listings should be made available on multiple platforms, including listing websites that are formatted for mobile phones. Real estate agents
are educating themselves on these tools every day, and sellers would be wise to ensure they're taking advantage of as many of them as possible.
Market their lifestyle of choice
If a home seller is offering a property that may appeal to certain desires of the typical first-time home buyer, they ought to market that fact prominently, reports NAR. Many Generation Y home buyers are steering away from suburbia and favoring homes that put them near the heart of the action in major urban areas, where work, entertainment and transportation are all easily within reach.
Home sellers marketing a property in these areas may have a leg up with the younger market, though home sellers in other areas may still have something to offer if they market a low-maintenance property. Properties that require minimal yardwork and repairs and offer a number of cushy amenities such as a swimming pool are often at the top of young home buyers' lists, giving home sellers living in a condominium community something to market, reports NAR.