Selling your home? Know who might be looking!

There is no limit to the amount of strategy that can be employed in selling a home. Those who are looking to maximize their profit and minimize turnaround time are usually quite interested in doing everything it takes to make a good sale. Minor renovations and decorative strategies are the most common ways to attract home buyers, and you can read about additional ideas on www.realtycounselors.com, but the “talking points” of the Realtors are important to think about as well. One factor that can really guide this process is a keen awareness of the type of person who is most likely to be attracted to your home.

If your home is a fixer-upper, is in a developing neighborhood in the process of revitalization, or is on the smaller side of things, you are likely going to attract singles and first-time home buyers. In 2005, those under the age of 25 made up 14% of the real estate market in the United States, often opting for urban condominiums in walking distance of work and local hangouts. Many have just landed their first full-time job, are embarking on a new career, or have just been married, and may be willing to overlook a few things in order to get in on the real estate market — especially if the location is good. If any of these homes sound like yours, this might be the group you are targeting. Accentuate the character and “hang-out space” of your home. Another consideration is that these new homebuyers may not have the credit history to get a larger mortgage so they’ll be in the market for affordably priced homes.

An even more significant portion of the home-buying population consists of young parents. These are the people who have grown out of their first homes and are looking for a bit more room inside and out. They have become especially concerned with neighborhood and street safety, as well as proximity to good schools. Although this tends to mean the suburbs, with the increased busyness of family schedules, a central location might be desirable as well. If your home fits these parameters, make your home as family-friendly as possible by helping home-viewers imagine play spaces, bedrooms, and a wholesome environment. While cost is often a consideration to most people, this demographic might put cost second to their other needs. However, because a family can be an expensive undertaking, they’ll still keep cost in mind as a deciding factor.

Empty nesting baby boomers are becoming the largest percentage of the population. They may find adult-oriented communities attractive but do not want to be considered seniors quite yet. They do not necessarily need less room, since they will wish to host guests and hopefully grandchildren. They want to feel like they have finally arrived, having earned a place they can relax and have easy access to malls, restaurants or golf courses. A good garage and a nice but manageable yard with a deck will be particularly attractive. If your home has any of these things going for it, make it as obvious as possible. If your home is priced in a higher bracket, consider marketing to this group who have a significant amount of disposable income.

Senior citizens are often attracted to community living. Their tendency will be toward condominiums and single level townhouses. If your home is in a safe, quiet, and friendly environment and has little in the way of stairs, extra spaces, and upkeep it may be perfect for the retired or elderly. Cost is becoming an increasing concern to this group again, many of whom may be living on pensions or other retirement investments and need to stretch out their income for the remainder of their lives.

Now, that’s not to say that someone outside of a particular demographic group will buy a house that doesn’t seem to match, but it is helpful to know who typically looks for what. Work with your Realtor to uncover the important points that each demographic is looking for in your area.

In each of the above cases it is important to accentuate the appropriate traits and get a Realtor who relates well with the particular person whose life stage best matches your home. When you are selling your home, the ideal circumstances are a steady stream of eager buyers and a home that “scratches them right where they itch.”

Los Angeles Real estate & City Information