First-time homebuyers are an important subset of potential customer every agent and seller should know. As younger generations reach the age and stage of wanting to purchase a home, they’ll be entering the market with specific needs. If you’re selling your home—either through an agent or by owner—here are some of the most important things to do to appeal to this key market:
Today’s new homebuyers are more educated and well-informed than ever before. There are countless free resources available for learning the ins and outs of buying your first home, which means most homebuyers will come into the market well-prepared. Therefore, it’s crucial to be as transparent and honest as possible in your selling.
Massaging numbers and trying too hard to appeal to emotion might raise red flags for buyers who have learned to be wary of such sales tactics. Be honest and open with first-time buyers and you’ll establish a better working relationship.
First-time homebuyers come in all varieties of economic situations. Rather than assume they have less or more money to spend than other demographics, focus on what will appeal to everyone: a well-maintained property. Put in the extra effort and money to make improvements and upgrades that will make the home move-in ready rather than a “money pit.”
Most first-time homebuyers are likely not looking for a fixer-upper property; therefore, the better care and detail you can put into maintenance, the better your chances will be.
Style trends come and go and so do the specific priorities of first-time homebuyers. It’s important to figure out what new buyers are looking for today. Highlighting desirable amenities and features will help your property look its best to first-time homebuyers with specific priorities in mind. One prominent example of this is energy-efficient appliances.
If the home has a tankless water heater or a smart thermostat system, these are perfect details to highlight in the listing. Focus on what will be most relevant to a first-time homebuyer today rather than rely on what might have been popular in the past.
As with any generalization of a large group of people, not everything will be accurate. However, the better you can understand what a first-time homebuyer actually needs and wants, the better you’ll be able to sell to them.
Ted draws energy and joy from building synergetic relationships with his Clients. Ted's nature is graciously gregarious and persevering; he's honest; and he's been dedicated to a substantial list of clientele throughout his 25 years in the hospitality business and almost two years as a REALTOR. His passion is creating a sincere, successful relationship with people.
Ted grew up in a family of Realtors in central Indiana, earned a degree in economics and philosophy from the University of Notre Dame, and jumped into all aspects of the restaurant business. His ensuing hospitality career path eventually led him into the Event Management Sales & Service role in hotels and quickly guided him to Los Angeles, San Francisco, and finally to a luxury resort in the Napa Valley, where he, his husband, and their dog have resided for almost a decade now.
The irony is not lost on Ted that his ‘growth’ journey has culminated in“living happily ever after” in an agricultural area with a small-town feel and sense of community strikingly reminiscent of his youth…and as a REALTOR nonetheless!