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Determining your real estate target audience is essential for building a successful, lasting career as an agent. Knowing where to focus your marketing, advertising, and networking efforts yields better results and saves time and money.
Successful agents know their target audience and market to them directly.
In this post, we’re going to discuss 5 actionable tips for determining your real estate target audience.
Why Knowing Your Real Estate Target Audience Is Important?
Your target audience is the demographic of people to whom you are aiming your selling efforts. And in real estate, these are the people who will likely buy or list a home with you.
In today’s market, you need to narrow down the specific demographic to be effective as possible.
Most consumers are oversaturated with advertising, so focusing on a specific demographic means less wasted effort.
If you don’t identify your target audience, it could hurt your brand. So taking the time to determine your target audience in real estate makes sense and has many benefits, including:
- Attracting more customers: Target marketing creates stronger connections with more potential customers
- Positioning yourself as the go-to expert: Whether you focus on a geographic location or a type of customer, you establish your credibility and expertise in that area
- Shifting your approach from sales to value: Knowing the customer also means knowing their needs, causing your messaging to come from a place of value
The key point — choosing a target audience for real estate reduces the noise and empowers you to connect with the right customers.
5 Tips for Determining Your Real Estate Target Audience
With the above in mind, let’s run through 5 tips to help you identify your real estate target audience. To narrow it down, try the following exercises:
1) Analyze Your Past Business
Where has your past business come from? Make a list of your past transactions and look for trends.
You might be surprised to find out that you are consistently already working with a target audience.
Ask yourself these questions:
- Are my clients from a particular age group?
- Do my transactions focus on certain neighborhoods?
- Have a majority of my sales been from specific types of properties?
2) Who Is in Your Sphere of Influence?
A sphere of influence consists of all of your connections as a real estate professional.
This includes friends and family, previous clients, and leads that encounter your business through marketing efforts.
The National Association of Realtors reports that an average of 74% of agents’ business comes through their sphere of influence.
Here’s how to best work your sphere of influence:
- Stay connected — emails, social media, coffee, meals, whatever works
- Leverage your friends — ask friends to refer you to their friends and coworkers
- Offer value — keep friends informed about market trends and prices
3) Consider Your Competitive Advantage
Who you are as a person can also help you attract like-minded clients. Reflect on your interests, hobbies, and networks to identify passions and skillsets.
Ask yourself the following:
- What clubs and hobby groups do I belong to?
- Make a list of your talents and skills. Do these connect me to certain people?
- What do I have or know that other agents don’t?
- Why should people do business with me instead of another agent?
- What unique strengths do I bring to the table?
- What problems do I solve for my clients?
Find ways to stand out in the crowd of real estate agents — it goes a long way in building your target audience.
4) Know Your Geographical Target Audience
Arguably one obvious real estate niche in which you can specialize is your geographic market.
Consider the following:
- Are there neighborhoods or areas you know well?
- Have you sold a significant number of properties in a specific part of town?
- Are you well known in certain parts of your city or region?
Your real estate target audience may focus on certain locations, so be aware.
5) Do the Research
Review all of your ideas and select the most promising. You’ll need to research if there’s actual real estate demand from the types and groups of customers you’ve identified.
Make sure to check out these questions:
- Review the market stats and transaction history for various neighborhoods
- Speak with industry peers and leaders and bounce your ideas off them
- Take a few target customers out for coffee and pick their brains
- Research your target audience online to learn more
Do your research. Based on what you learn about your target audience, you can likely deduce which motivations drive their real estate decisions.
There is always going to be competition, what you’re trying to do by determining your real estate target audience is find your sweet spot.
Build Your Real Estate Target Audience With Single Property Websites
Knowing your real estate target audience is valuable. But, if you want to succeed in real estate, you’re still going to need a steady stream of leads every week.
Here is where single property websites can help!
PhotoUp’s single property listing websites come with built-in lead generation forms that make it easy to collect phone numbers and emails of prospective clients.
Your website visitors can also share their home and area preferences. And once they opt-in, they are automatically added to your email list.
Benefits of Single Property Websites
To better help you understand the marketing value, here are benefits of single property listing websites:
Agent Branding – customize the site with your logo, headshot, contact information, and brand colors
Lead Generation – capture client leads interested in your listing with our integrated contact forms
Social Media – prospective clients can contact you directly via social media links
Exclusivity – not only does a single property website come with an unique URL that will boost SEO, but it also removes the competition from the MLS
Detailed Listing – add as much information about the property as you like such as unlimited images and videos, property description, home price, beds, baths, size, lot size, garage details, and more
Top Home Amenities – you can list 3 to 6 of your listings top selling points to highlight on your site
Marketing – get a matching real estate flyer to maximize your marketing
Sign up with PhotoUp today, and let us help you grow your business with more client leads!
We hope this blog post helped you learn 5 actionable tips for determining your real estate target audience.
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