Chances are Good That the Buyer of Your Home Will be Under Age 50
The real estate industry is buzzing about a new real estate industry study which reminds us that close to 60% of today's potential home buyers were born after 1965.
Of course, Americans love studies like this one, and statistics have their imperfections. We all have a tendency to assign consumers to demographic groups, using labels like "Millenials" or "Generation X'ers". But it is a reality that 43% of those born between 1977 and 1994 are already homeowners and the vast majority of those Millenials desire to own their home.
Buyers under the age of 50 have clearly assumed a majority role among those who are the most likely prospects for buying homes (that includes vacation homes and "second homes").
Here's what this means to you if you are planning to put your home up for sale:
- Your prospective buyer most likely owns a smartphone/iPad/similar device and they use it to search for home listings.
- Your prospective buyer probably gets the majority of their real estate information from social networking sites.
- Your prospective buyer is willing to educate themselves and gather online information before making a purchase.
To carry this a step further,
Folks who are looking for homes like yours are NOT getting their listings from a newspaper or glossy magazine, or newsprint "shopper". Most likely, very few of these potential buyers (if any) subscribe to a newspaper.
If you plan to hire an agent to sell your property and that agent does not know how to market homes to buyers using a handheld device or tablet computer (like an iPad), you'd be hiring the wrong agent.
Not All Real Estate Agents are Equal when it comes to selecting an agent who knows how to market on the Web.
Successful Web advertising is about communicating an image and a message on the small screen, to a user who values portability, convenience and rapid access to information. It starts with great photography and using the correct tools and techniques to present your home to buyers in the most appealing manner possible.
Call Madeline Island Realty at 612.670.2539 to see how we market to today's buyer. We'll demonstrate what we do differently from other agents in your market area.
[Screenshot of Madeline Island Realty webpage on the new Samsung Galaxy Note smartphone]