First-time buyers are your ideal client base, and you need to target them in your marketing strategy. All homeowners were once first time buyers trying to get home loans, and if you provide them with excellent service, you stand a good chance of getting repeat customers and referrals in the future.
Targeting first time home buyers is slightly different than, say, a prospective buyer interested in probate or retirement home. You must appeal to a new audience, keep them engaged in what you are selling, feature amenities that first time home buyers care about, and change up your marketing strategies.
Targeting new or first-time homebuyers is an excellent marketing strategy to maintain a steady stream of clients. In today’s uncertain real estate market, the new home buyers’ demographic is virtually unwavering.
Implement the following six tips when targeting first-time buyers, and you’ll start noticing a difference in your pocketbook.
1. Have a Web Presence
Millennials form a majority of first-time homebuyers, a fact that is expected to hold for the foreseeable future. Therefore, as a realtor, you need to tailor your branding and marketing efforts with this generation in mind.
Since most of them start their search online, it’s a good idea to have an active website and landing pages. Yes, you can use property search sites, but none beats having your website. You can easily set up a simple site and, using some basic SEO skills, attract the traffic of new home buyers your way.
2. Have a Social Media Presence
Buying a home is a huge decision, and perhaps the most expensive one you will ever make in your lifetime. Therefore, it is normal for new home buyers to have a ton of questions. Having an active social media presence that answers most of these FAQs goes a long way in targeting prospective buyers and converting them once they get on your site.
Setting up yourself as a helpful voice and a leader in the real estate industry will attract buyers willing to work with you. Also, social media is a relatively easy and inexpensive way to advertise your available properties. When used properly, these sites can help you connect with private lenders and build your buyers list.
3. Host First-Time Buyer Seminars
First-timers are probably clueless about buying a home and are new to everything. They have never attended an inspection, an open house, made an offer or filled out a mortgage application. Half the time, they do not even know where to start.
Thus, you should capitalize on this and get the word out about your practice. To do this, host a seminar for first-time buyers and invite family, friends, coworkers, and your local social media following and ask them to bring their friends and family. The point is to fill a room with potential leads and give them a free guide for first-time home buyers.
When you impress first time buyers with your wealth of knowledge about the real estate market, they will want to work with you. To cultivate a sense of trust and confidence in your services, provide guidance and advice that the Internet cannot.
Ensure that you pass out your business cards, answer questions, and advertise that you are available to help. People will always follow you if they think of you as an invaluable resource in their search.
4. Host Open-Houses
If you have a conveniently located office, it may be a good idea to host “open houses.” You can advertise your services, grab the attention of would-be home buyers, and convince them that you are the realtor of choice in your locality. Remember to offer wine and treats to attract a crowd.
5. Target Rental Buildings
You can find potential first-time buyers by advertising your agency and services in and around rental buildings. Look for large complexes nearby and hand out flyers to tenants or find a way to mail them. The chances are that a few may consider using you or your real estate agent when making their first purchase.
6. Feature the Right Amenities
Millennials prioritize different amenities compared to older generations. They often opt for loft-like spaces and sustainable products as opposed to multiple rooms and swimming pools. Ensure that you show off the following amenities to this generation of buyers:
- An open floor plan
- Updated kitchens with modern appliances (think stainless steel and a neutral color scheme)
- Walk-in closets
- Eco-friendly appliances and materials
The Bottom Line
As a real estate agent, recommendations and repeat clients will help keep your income and business steady for years. Therefore, you should always strive to go above and beyond to serve all your clients and help them get what they want. Be active both online and in your local community. Also, provide quality information and service to first-time home buyers, and soon your client list will fill up.