Is your target audience and your target market finding each other?

By
Real Estate Broker/Owner with Respect Realty LLC 200311024

Your target audience and your target market can be two very different things, but if they are, then you, my friend, are doing a very big disservice to your marketing time and budget. You see, if you come talk to me I will tell you my target market is first time home buying families in the Beaverton, Oregon, area. Then if you ask me what my target audience is when it comes to my blogs, well guess what, it is the same audience.

It may seem weird, but what if my target market was the Summerfield neighborhood of Tigard, Oregonand all my flyers and marketing material were being mailed to that area of Tigard, Oregon? Then my audience and my market wouldn’t be hitting each other and here is why. Summerfield is a retirement community of 55+ residences. I love working with them,but I’m not going to find them through blogging. They are more likely to meet me on the street or from a business card from a friend.

But, my target market is homes that are 3-4 Bedroom, 2-3 Bath and over 1500 square feet. These homes are perfect for my target audience of first time home buying families. I do take smaller homes if I feel they would work for a small family, but I have never taken a listing for a one bedroom andI probably never will. It just wouldn’t work for my buyers that I am attracting from my blog and my other marketing materials.

If you read my blog posts you will notice two things: I talk a lot about families and about certain parts of the cities of Beaverton and Tigard.The reason I do this is because I feel these are where my target market will be searching to buy or sell real estate. I do include King City, but only as a complete overview of the Tigard area and not as much as I do the other areas, because as I said, that market is less likely to find me through the internet.

So, what is your target audience and are they hitting your target market?

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Oregon Washington County Beaverton
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Diary of a Realtor
Tags:
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todd clark
beaverton oregon first time home buyer specialist
beaverton oregon family homes for sale

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Rainmaker
129,617
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

Nice post.  It's really making me think about my blogging strategy.

Apr 02, 2009 06:54 PM #20
Ambassador
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Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

Mama Liz - I'll call you tomorrow and we can talk. It is alright to have two niches, but you have to have an end user for both.

Amy - With what I know about you and your sphere, I would target military families. You know what the children of these families are going through, because you were an Army Brat and you married military so you know what they are feeling now. If you have military sellers and buyers it is a win-win, one leaves, one moves in.

Apr 02, 2009 09:43 PM #21
Rainer
29,758
Kieran and Cecelia Loughman
Exit Creative Reaty - North Port, FL

Hi Todd!

I blog every once in a while. I don't seem to get into a rhythm with it.

I have no technical skills, but a lifetime of ex[eriences. I am a relationship seller.

Thank you for your post and I'd love to hear any suggestions

Kieran

Apr 02, 2009 11:36 PM #22
Rainer
13,016
Kelly Parks, MBA
Great Falls Realty - Great Falls, MT
Broker/Owner

Hi Todd,

You make an excellent point.  It is hard sometimes to get new agents to realize this even though it seems logical.  As far as marketing (I have an undergraduate degree in it) it really surprises me how unfocused agents can be.  Determining who to target and where to focus your efforts has always been the key.  This is the secret to success.

Thanks

Kelly

Apr 03, 2009 12:34 AM #23
Rainmaker
180,001
DeAndrea "Dee Dee" Jones
Home Buyers Marketing II, Inc. - Manassas Park, VA
The NorthernVARealEstateLady & DMVRealEstateChick

Todd, That makes since. We all have preferences and niches we want to carve out.  But, alot of time we attract people by accident.  The more you focus on a target market the more exposure you get period in that whole area.  In return If people want to work with you that our a little bit up or down of your preferred price range, area, beds or baths, it should not make a difference if your in the business to sell.  The goal is to blog for the business. 

Apr 03, 2009 02:13 AM #24
Rainmaker
636,106
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Hi Todd,

Thanks for the good advise.  And by the way, I followed your links and really like how you've incorporated them.    I also like the idea of your note for the first time home buyers regarding only letting them know when there are big issues that need to be addressed.  How do you seperate that from the buyers who don't realize all that we do as realtors and are so quick to let another realtor write a contract for them.  I guess that is where the buyer broker agreement comes in.

 

Apr 03, 2009 04:16 AM #25
Rainmaker
1,361,649
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Todd, great advice for us to keep on target and stay true to our market share for our area.  Thanks for the reminders.  I realized that I keep forgetting to put links to the areas in my posts, oops.

Apr 03, 2009 04:21 AM #26
Rainmaker
226,895
Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO

Excellent advice.  Thanks.  I have a daughter in Beaverton (Aloha) and yes, they were first time buyers!

Apr 03, 2009 07:09 AM #27
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"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

You're gonna love the IPhone. I'm getting mine next month as well. I'm due for my free upgrade :)

TLW...ROAR!

Apr 03, 2009 08:32 AM #28
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Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

Paul - What do you mean you don't always agree. Isn't my opinion the only one? (LOL) Thanks for the kind words, they do mean a lot... Just to give you hope, go back to my first posts and see how bad of a writer I was and just go through them to see my growth as a writer. I think it has a lot to do with me becoming a better speaker and my thoughts translating better.

Terry - Your target market is what puts money in your bank account, so if you aren't focused on it, you might as well send you cash to me it will have the same results on your business.

Apr 03, 2009 09:14 PM #29
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Chris - Take the money you can get from those and focus on the area that you want to. There is nothing saying you can't do both, but you just don't want to spend your marketing dollar on something you don't want to work.

Eric - This is what I teach agent in my office to do. You need to have a target if you are going to shoot out your marketing. If you don't you might as well aim for the garbage can, because that is where your money is going!

Apr 03, 2009 09:26 PM #30
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Respect Realty LLC - Milwaukie, OR
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Christine - Not necessarily, just start two distinct blogs one for one niche and one for the other niche.

Gene - You can throw out stuff and see what sticks, but then tomorrow it won't matter again because you are staying in touch with the audience you attracted.

Apr 03, 2009 09:28 PM #31
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Marvin - Don't spread yourself too thin or when the market stabalizes you are going to be caught stading in the middle of the street with no business and looking at all the business passing you buy because you didn't market to anyone in realty.

Mike - Good luck, I can tell by your tag line that you need to focus on investors! Just post on how to make more money from your investments and how to aquire more.

Apr 03, 2009 09:33 PM #33
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Kieran - Write about that! Relationships are what this business is all about and if you talk about the great relationships that you have made with past clients, that will attract even more clients to you! It says you are more about the people than the sale and if you put that in to print it will skyrocket your business.

Kelly - Most agents have A.D.D. and blogging is a shiny object and as soon as they see business somewhere else they turn and focus on that until they see someone else doing business then they turn and focus on that. Never staying focused on one niche that will build a business for the long haul.

Apr 03, 2009 09:37 PM #34
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DeAndrea - Not just blogging, but all advertising! Don't get me wrong if a past client wants to downsize or move up, I'm not going to turn them down because what they want to buy or sell doesn't fit my target market, but I will tell them upfront that I don't specialize in that type of listing and most of the time they say we don't care, we know you can sell it and we wouldn't trust anyone else with our home.

DeeDee -  I have a one hour meeting with every buyer before we ever see the first home, I interview them and let them interview me during that time. I give them copies of the real estate sales agreement filled out so they know what one looks like and also have them sign a buyer's agency agreement if I choose to work with them. My buyer's book explains the whole process gives them business cards to hand out to other agents if they should choose to go to an open house and sets them up for a path of successful home ownership.

Apr 03, 2009 09:44 PM #35
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Lyn - It is very important to do that as when someone sees an area they may like they want to know more about it and if you force them to go somewhere else to get it, you may not get them back.

Joan - I also can help first time sellers, if they should want to sell. (LOL)

Billie - Oh, I can't wait and I'm up for my free upgrade also, but they say it is still going to cost me $100... ;(

Apr 03, 2009 09:47 PM #36
Ambassador
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Todd - Both do need to connect and you have accomplished this, so I am sure you are reaping the rewards.

Apr 03, 2009 11:50 PM #37
Anonymous
Yvonne Laanstra

Hi Tod,

Thanks for your story and I so agree with you. As a home stager I run into so many realtors that say, "just make it look good" but what if we stage a house for a family with kids bedrooms and the target buyer is a professional couple? Or we stage it ultra modern and your target buyer is 60+ and retired?

You will miss your target! You spend money on staging and advertising and will not get your potential buyer to come in and take a look.

Together with the realtor we have to figure out who the buyer likely will be and aim for that with staging, prestentation and marketing tools.

Thank you for bringing this up. It will get people thinking!

Kind regards,

Yvonne Laanstra

My Spectrum Interiors

Calgary

 

Apr 04, 2009 01:50 PM #38
Rainmaker
272,533
Carrie Sampron
Home Smart Realty Group - Highlands Ranch, CO
ABR SFR & Kathy Sampron (303) 931-3629 Highlands R

Carrie and Kathy SampronTodd:  Three years into the business we're trying now to focus and find our target market.  You're post was great, and I've enjoyed your comments for others, thanks.  Carrie

Apr 05, 2009 11:39 AM #39
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Jennifer - It has been wonderful for me, I have had many of my sales be double sided because both the buyer and seller are walking away happy. Many times, I'm able to do this without even putting it in the MLS.

SOLD BEFORE THE INK IS EVEN DRY!

Yvonne - Your story made me cringe at the thought of not focusing the staging for the end buyer. Good for you telling them the truth and that is probably why you are their choice for staging in the first place.

Carrie - I'm glad it was able to help, I think the keys for you is to write down what your target is and then work backwards. Most start with the advertising and move forward which is like throwing a tissue paper at a waterfall and expecting something to happen.

Apr 05, 2009 08:37 PM #40
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