The Most Important Personas for Real Estate in 2015
Buyers and Sellers are the most important Stakeholders for Real Estate Agents and Broker/Owners. Without a buyer and a seller our businesses wouldn’t exist. Who are buyers and sellers? A buyer is someone that is willing and able to purchase a home. A seller is someone that is selling a home.
Although we have buyers and sellers it’s important to watch the trends in real estate. Who are the buyer’s for the 2015 market? Who are the sellers for the 2015 market? If you know this information as a real estate agent you will understand where to focus your marketing efforts.
Who are the customer personas for 2015?
- Millennials are expected to outpace the Gen X group in home ownership for 2015. As our rental rates rise Millennials will seek home ownership. This group is expected to spend 1.6 Trillion dollars on home ownership in the next 5 years. Tip: Take advantage of social media. Millennials are heavy users of technology.
- The overseas investors are still finding U.S property more appealing. Most foreign buyers are paying in all cash and consider it safer to invest their dollar.
- Baby Boomers might be ready to downsize and relocate. Home values have been increasing for the past few years. The bottom of the Northern Illinois Market was in April of 2013 and we’ve seen nothing but increase home values. Therefore, the Baby Boomer’s are likely to take advantage of the improved real estate market.
- The Boomerang Buyer will make a comeback to home ownership. A Boomerang Buyer is someone that lost their home in foreclosure or ended up selling their home short of what was owed when home values plummeted. Many of these original home owners understand the process and will purchase again. If a real estate agent sold a home for a seller as a ShortSale, prior to 2012, now would be a great time to reconnect with that seller to start the home buying process for 2015.
Based on my research the top 4 customer personas for 2015 include: Millennials, Overseas Investors, Baby Boomers and the Boomerang Buyer. As a real estate professional it’s important to understand the trends. If you understand how to research your local market using tools that include Google Trends, Google Analytics, social media trends, REALTOR®.org Trends, Corelogic – a Smart Data company, your multiple listing service and your local tax records you will be better prepared on who your target market is for the year.
“If you wait until there is another case study in your industry, you will be too late!” – Seth Godin (Author Of Permission Marketing)