How we prepare and describe the property depends on the concept of the Target Market, that is – WHO is your buyer? Better yet – who is your BEST Buyer? And ultimately – Who is the BEST Buyer that is willing to spend the MOST amount of Money?
THAT’S WHO WE’RE INTERESTED IN FINDING.
We aren’t interested in just ANY Buyer, and we know that there are many types. Two important ones to consider are the CHEAP BUYER that wants the best price on EVERYTHING. We all know this Buyer – cheapest clothes, car and virtually everything else. “What’s your best price?” is the mantra for this buyer. The buyer we want is called a QUALITY BUYER, that is – a buyer that is looking for quality and is willing to pay for it. It’s important to know that not every buyer is looking for the cheapest house. In fact, most aren’t. Most buyers are looking for a GREAT house that will make them happy, give them the life they are looking forward to, and make them feel safe and proud. We have all kinds of emotions and different motivations to work with here – and that is the plan.
In determining how we will prepare and market a home, we first look to identify that Target Market. Typical Targets are young couples, first time home buyers, young families and investors. Not so typical Targets include very specific demographics relating to age, culture and even socio-economic status. It’s often considered taboo to market housing to a specific demographic for fear of discrimination, however ignoring clear signs of groups or types of people that absolutely pay more for specific houses in certain areas is a little reckless and is leaving money on the table. Of course, there is a tactful and respectful way to market homes as well.
First Time Home Buyers are looking for things like value, security, stability and excitement at the same time.
Young families are interested in yards, parks, school bus routes, rec rooms, open concept spaces, and community.
Investors are looking for opportunity, growth and stability.
Once you’ve identified the Target Market, you then need to consider how to prepare the home in a way that appeals to them the most. This is where staging and design comes into play. What types of upgrades are they looking for specifically? What style are those upgrades? What type of quality are those upgrades? What types of décor speaks to that buyer and attracts them? You can even get down into certain smells and sounds in the home they will appreciate. How should the home smell and sound when they walk in during showings?
When properly executed, preparation of the property is an incredibly powerful way to attract the highest and best offers, and for this reason, we put in a great deal of effort into carefully curating an environment that will showcase the most value to our target market.
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