I just read through the profile of a homebuyer published by the National Association of Realtors in 2011 and it reminded me of some things that need to addressed in marketing a home.
One of the things that stand out is that the median age of a homebuyer in Orlando is 47 and 45 for the rest of the country. Perhaps the marketing should geared towards this age group.
An area where Orlando differs from the rest of the country is surprisingly enough the median income. While the median income of a home buyer in the US is $89,900, it’s only $57,900 for Orlando. Are incomes in Orlando that bad? It may explain why the majority of the homes sold in Orlando for the past several years have been under $200,000.
Another glaring tid bit that stands out is that the main reason for purchasing a home was to be near friends, family, and relatives. You hear it all the time, but seeing it quantified makes it stand out as a compelling reason for marketing a property a such. The second most important was affordability which one would think is the most obvious.
As advertising for everything becomes more and more targeted… the research creates a compelling reason to cater to someone in their 40’s making about $60,000 a year who’s looking to move close to friends and family. Then all you have to do is create value in the eyes of a buyer.
It sure gives some ammo on finding just the right buyer who’s willing to pay top dollar on the home you’re selling.