Apartment Dwellers; A Forgotten Market??

By
Real Estate Agent with HomeSmart

So I've only been in the Real Estate Business for 8 months, but have been living in apartent complexes since I moved to Arizona 4 1/2 years ago.  In the past 4 1/2 years, I've lived in 4 different complexes in 3 different cities in the valley, and I can't remember receiving one mailer from a Real Estate Agent looking for my business.  I didn't really realize it I guess until I got my license and started attending classes on how to make your business grow. There are a lot of different markets out there to go after when establishing your business, but just walking around my complex or hanging out at the pool and talking to neighbors, I realized I was living in a perfect one.

Why isn't targeting apartment dwellers, a priority to real estate agents?  In my apartment living experience, I've come to realize there are 2 major demographics that reside there; college kids looking for the complex with the best weekend pool parties, and small families looking to save money to purchase a home of their own down the road.  The prior might be fun to hang out with on the weekends, but the latter is definitely a great market to target and hope to earn their trust and business in the future when they are ready to purchase the home they are saving up for. 

And talk about a market that's easy to understand, easy to find, and easy to access.  If this is a market that you might want to start looking into, here is a helpful list that will help you get started:  The Top Ten Tips for Marketing to Apartments, which was found on www.box.net

Apartment Dwellers could be a very profitable market for realtors to spend some time on and by using the right channels, a fairly inexpensive one to reach out to.  I know its going to be a large part of my business. 

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Comments (2)

Sharon Lord
Maracay Homes - Peoria, AZ
New Home Advisor

Jesse - back when I was an agent (97-05), most of my time was spent with builders.  I *ALWAYS* scanned the market for apartment complexes with 3 or more bedroom units, and fairly high rent.  We'd hit those with door hangers showing mortgage payments below what the rent was, list the benefits of homeownership, and each quarter, host a "Free Homebuying Seminar" at our models, inviting the residents our with free breakfast or lunch on a Saturday morning, hosted by our lender.  It NEVER failed to get at least 1 sale!

The hurdle you may have with clients is that you live in an apartment - why should they buy when you yourself rent...?  So be prepared for that one!

Sharon Lord
Argent Decor
AZ Vacation Home Furnishing Service

Sep 28, 2010 10:56 AM
Jesse Vogt
HomeSmart - Chandler, AZ

WOW!  Great points and information!!  And thanks for the heads up, I never considered that I might get questioned about my own situation.  I appreciate the response!! Thanks

Sep 28, 2010 11:06 AM