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Who Will Buy Your Home?

It is important, when selling any product, to determine who your target market is so that you can attract the right buyer. For example, if your home is ideal for first-time home-buyers, you would market it differently than you would if you were trying to attract empty nesters. If you were selling to first-time buyers, you would use key words and phrases such as “room to grow,” “great den for your family,” or “ample backyard space.” Table 1 lists the types of buyers, what they might be looking for, and how to let them know about your property.

Knowing the demographic you are trying to attract will also help when you are deciding where to advertise your home. If a newspaper magazine is targeted to first-time home-buyers, for example, and you’ve got a great starter home, you may want to include an advertisement in that magazine. If you are selling an investment property, you would think about advertising in an investment-related trade magazine, using phrases such as “great for first-time investor” and “positive cash flow.” For the empty nester market, “downsizing” or “less maintenance” may be appealing descriptions, and you might place an ad in seniors’ magazines.

Table 1 — Types of Buyers and How to Target Them