Pinpoint Your Target Buyer for Best Results
Do you have a NC farm, ranch, or luxury property that isn’t selling? The problem could be that you aren’t promoting it to the right group of people.
The secret of any successful real estate broker is knowing not only how to promote a property, but also to whom it should be promoted.
Whether you work with a real estate broker or intend to go the FSBO route, knowing who your target buyer is can make all the difference.
To start, work with your real estate broker, or do some research on your own to determine who is most likely to buy your property based on:
- Your List Price: Promoting a $2 million dollar property to those with incomes under $100,000 will be a waste of time for both you and your real estate broker. So, consider what income level is necessary to purchase and maintain your property.
- Location: Any real estate broker knows the importance of location. Your group of prospective buyers will differ for rural versus urban properties. For example, if your property is in a remote setting, targeting young professionals who need to be near a city for work may not be worth your time. Also, if your property neighbors an expanding metro, it may increase your target buyer group to include commercial land developers.
- Lifestyle: Is your property a farm or a residential property? Is it meant as a year round residence or as a vacation home? Only a select group of prospective buyers will be interested depending on the type of property.
Knowing this information upfront will help you and your real estate broker ensure that you target the right group of prospective buyers.