When you send out real estate marketing materials, do you consider the recipients at all? Maybe you know the demographics and even the prospects’ positions in the sales cycle. But did you actually create the content and personalize the mail so that it reaches the decision-maker? If you’re not sure, it may be time to focus on new targets.
Real Estate Marketing to Women
According to a study by the Joint Center for Housing Studies of Harvard University, the number of households headed by women increased by almost 10 million between 1980 and 2000. Whether widowed, divorced, or proudly single, these women make all the buying decisions, including when, where, and how to buy a home. The women-headed households aren’t always single women or single mothers, either. In many cases, the women are the breadwinners while the men tend to the home.
Women may still earn less, on average, than men do, but they’re more likely to make the major purchasing decisions. This is the case when buying a home, too. What this means is, whether a woman is married, divorced, single, or widowed, she’s the person to reach when you send direct mail for real estate.
Real Estate Marketing to Minorities
African Americans and Hispanics will spend $1.1 trillion and $1.5 trillion, respectively, in 2015. With that kind of spending power, these buyers are sure to make larger purchases—including new homes. Real estate agents who are determined to provide truly targeted marketing materials must keep this in mind when sending direct mail.
According to Dorothy Brown, law professor at Emory University, homes in minority neighborhoods are valued at up to 18% less than homes in majority communities. This is important information to understand when marketing to minorities, especially those hoping to close the racial wealth gap with solid investments. Your understanding of their needs and wants will set you apart from other real estate agents in your area.
Deeper knowledge of your targets will ensure you reach people with every direct mail piece you send. When you’re ready to grow your business, we’re here to help.