Many real estate professionals have probably never even considered move-up buyers as a "niche." If you are one of them, do not continue to pass on this opportunity. What makes the move-up buyer such a good opportunity?
You can target them effectively for marketing.
Good marketing can actually create a need or desire.
It is an opportunity to double their satisfaction and create "clients for life."
Oops, we almost forgot two commissions instead of one!
So many urban areas are filled with tract subdivisions, most made up of similarly valued homes. Talk about easy targeting of your market! Particularly in entry-level homes, you can zero in on young and growing families soon to need more space. So, how do we market this group?
Locate a neighborhood with a large number of first-time or entry-level homeowners.
Farm market this area via the Web, postcards and other media you know to be effective.
Use phrases like "Does your growing family need more room?" Begin to generate a need or desire.
Gather data and listings for larger homes in neighborhoods with prices $50,000 to $150,000 higher than your targeted group.
Send listing summaries in your marketing, such as "3 BR, 2.5 BA home in XXXXXXX neighborhood for $229,000." You don't have to give the MLS number or more info than this.
What we are doing is planting a seed in the minds of our target families. We want them to be thinking about how crowded their home is, and about the listing info you're sending them. At some point, they will get serious about up-grading. Who do you think they will contact?
