Targeting Orphan Buyers
Targeting a specific demographic through your marketing techniques can help you establish a firm presence in the real estate industry; ultimately helping you gain success in your career as an agent. Determining which group to target depends on who you want to work with and the kind of work you desire. Orphan Buyers can be the perfect group to work with if you enjoy educating and sharing your knowledge of the market and the industry, while gaining trust and establishing credibility.
Who is an Orphan Buyer?
For starters it is important to understand who orphan buyers are. Orphan buyers are first time home buyers. They are likely young professionals, typically in their early thirties, that have only rented before. These buyers often require additional help from their agents, as the buying process will be new to them.
Why target them?
Orphan buyers are a unique group of real estate consumers that have a variety of purchasing needs. Since they’ll need your help in understanding the real estate market and industry, they’ll often rely on you for guidance. This can benefit you by helping you establish a positive professional relationship through educating and spreading your knowledge. Since your service is the number one service they’ll require when looking for a home, you can help provide them with additional information about insurance companies, credit reports, lenders, etc, all while helping show your new client how much you value your career and them as a client.
How can I target them?
Once you decide that you would like to work with Orphan buyers, it is now time to target them. Here are some helpful starter tips to help you find your ideal client.
- Target your advertising – targeting your advertising will help you find your ideal client. Since orphan buyers are likely tech-savvy, it is important to focus on online marketing techniques. Having a professional, straight-forward website that is pleasing to the eye will attract customers to you as an agent. In addition, focusing on various social media platforms will help you establish a clear presence in the online real estate industry.
- Express your knowledge – using your knowledge of the market and the industry can help you establish a positive presence with clients. This knowledge can be spread is a variety of ways, such as through blog posts.
- Educate them on the market – help them understand the current market, as well as what to expect in the upcoming future. What was the 2016 market like? What is expected from the 2017 market?
- Educate them on the Industry – help them understand what it is you do as a Realtor, what the buying process entails, as well as the basic terms that will frequent your conversations.
- Target there needs – understand what your ideal client usually needs in order to help gain their interest. Since each type of client is looking for something different, it is important to determine typical traits of Orphan buyers in order to target them.
- Guide them – be a helping hand throughout the process. Since this will be new to them, helping them along the way will make the process easier for them and for you.
Through targeting your audience through the above techniques you will help earn the trust of your clients, and potential clients, while establishing credibility.