Writers have a target audience in mind as they peck away on the keyboard. Radio DJs are admonished to hold a mental image of their audience (one person of a certain age group, by the way) every time they open the mic. And, the key to success for professional marketers is to “know your audience.” The latter uses market research to determine from what pool of consumers will come to their potential customers.

When a home is the product we don’t need expensive research to determine who will be most interested in it. Thankfully, the National Association of REALTORS and others have done the legwork for us, so we have a pretty good idea of which demographics drool over which types of homes.

Naturally, there are the basic needs that seem to cut across all demographics, but some homes appeal to certain folks. Once you have a clear picture of your likely buyer for your Birmingham home, we can better focus our marketing efforts.

The luxury home buyer

High-end home prices soared in the first quarter of 2017 to an average of $1.65 million. Is this a trend? Only time will tell. What we do know; however, is that if you own a high-end (meaning high-priced) home, your most likely buyer will be a woman and a member of the baby boom generation.

This group of Americans, by the way, controls a large share (51.3 percent) of the country’s wealth and that percentage is expected to grow. According to CBS News Money Watch, “America’s most affluent women are typically in their 50s and 60s,” and a recent survey of real estate agents finds that 62 percent of their luxury home buying clients are between the ages of 45 and 54.

By the way, today’s luxury home buyer doesn’t necessarily view the purchase as an investment, as was the case before the recession. Instead, it’s more of a lifestyle choice –  a home in which to raise a family and build memories. This information helps us, as your listing agents, narrow our marketing focus (sophisticated and laser-targeted) to appeal to these buyers.

The condo/townhome buyer

When it comes to condos vs. single-family detached homes, the owners of the latter will have a better chance of selling. Now, this is not to say that condo owners can’t sell their homes. On the contrary, your buyer will likely be a retiree, seeking to downsize. This is especially true if the condo is located in a walkable area that offers plenty of recreational opportunities in the suburban area surrounding Birmingham. These types of neighborhoods are becoming increasingly popular in the Birmingham area especially off of 280. Examples of these neighborhoods

These types of neighborhoods are becoming increasingly popular in the Birmingham area especially off of 280 like Edonton and Brook Highland Townes, for example.

Condos downtown Birmingham or in Southside are attractive to young, single professionals who are seeking a home in close proximity to work and to social opportunities. The bonus for them is that condos are generally less expensive than single-family homes and require far less maintenance. Then, there are the young couples who aren’t planning to start a family right away. Naturally, the location of your condo and the amenities the community offers will help us narrow down your ideal buyer pool. Popular townhomes and condos for these types of buyers are the brownstones in the Preserve neighborhood and the townhomes in Ross Bridge area in the suburbs of Birmingham.

Then, there are the young couples who aren’t planning to start a family right away. Naturally, the location of your condo and the amenities the community offers will help us narrow down your ideal buyer pool. Popular townhomes and condos for these types of buyers are the brownstones in the Preserve neighborhood and the townhomes in Ross Bridge in the suburbs of Birmingham.

The single-family, detached home buyer

The single-family, detached home category represents a broad range of homes, from small, starter homes to luxury homes and even ranches on multiple acreages. The most popular single-family home, according to NAR, is one that was built in 1991 and has 3 bedrooms, 2 bathrooms and 1,900 square feet of living space.

Now, most real estate agents will tell you that the home needs to be in move-in condition to sell quickly but recent studies show that millennials actually want a home that needs a little work if it means they don’t have to buy a cookie-cutter home. What they don’t want are old appliances, dinky master bedrooms, and a one-car (or no-car) garage. Fix those problems and we can market your home to this demographic. If your home is large, more than 2,000 square feet, and in a quality school district, your buyer will most likely be a Gen Xer. “Buyers 37 to 51 are in their peak earning years and thus their incomes are the highest among all generations of buyer types at $106,600. They are both the generation most likely to be married and most likely to have children under the age of 18 in their home,” according to the National Association of Realtors 2017 Home Buyer and Seller Generational Trends Report.

Fix those problems and we can market your home to this demographic. If your home is large, more than 2,000 square feet, and in a quality school district, your buyer will most likely be a Gen Xer. “Buyers 37 to 51 are in their peak earning years and thus their incomes are the highest among all generations of buyer types at $106,600.

They are both the generation most likely to be married and most likely to have children under the age of 18 in their home,” according to the National Association of Realtors 2017 Home Buyer and Seller Generational Trends Report.

These are the buyers who are going to want to move out to the suburbs surrounding Birmingham. These buyers want to move out where the schools are great and where they can have more space for a better price.

Why does it matter?

Knowing who your likely buyer is will help us hone our marketing efforts. While we won’t exclude other possible buyers, if your home fits perfectly a certain demographic’s wants and needs, it only makes sense to stage the home and craft marketing pieces to attract them. As you’ve probably guessed, marketing a home for sale entails so much more than entering the details into the MLS database and pounding a sign into the front yard. We’re happy to discuss our marketing plan with you when you’re ready to sell your home. Birmingham Home Agents

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