Observations

A primary focus on the second homebuyer.

Lindsay Lessman
By Lindsay Lessman
04.12.17
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1. Cater the offering to the role.
High-rise developments often see a percentage of viable prospects looking for a second home. A buyer looking for a second residence may be searching for a pied-à-terre or a proximate and safe place for their college student. Or, the prospect might be searching for a retreat in a favorite getaway location. Whatever the reason, it’s important to ensure that the floor plans and interior design fit these needs. The prospects will come prepared with specific questions to their unique requirements. Be ready for: “Can this property be rented?”, “How is the security in the building?” and even “What are the restaurant options?” By understanding the nature of the requests, you can deliver the answers that properly inform the prospect and likely lead to a purchase.

2. They’re buying the lifestyle and likely already know it.
A prospect purchasing a second home tends to have an affinity for the area, something that brings them back again and again. By figuring out the reasons for this behavior, messages can be tailored to create a stronger desire to purchase. The message might be the draw of urban culture and vibrancy. Or, it might be tailored to vacationers choosing a deeper and more enriching lifestyle. Understand the nuances of what the prospect finds unique. By digging deep to discover what a prospect desires, communications can be focused on that personal experience.

3. Turnkey is key.
The easier everything sounds, the easier the sale. A residence in a high-rise is the perfect second home for many people because home buyers can set it and forget it. Day-to-day maintenance worries and upkeep problems are not at all what buyers are looking for. If prospects know that services and even specially designed packages are available which cater to their turnkey lifestyle, it will ease many of their concerns. Fewer concerns equal more sales.

4. Feed the feeder opportunities.
The second homebuyer doesn’t live down the street, so reaching out to other cities and states may play a major part in the prospect search. Arizona feeder markets are colder areas like Chicago and Vancouver, BC with some interest being shown by Californians from San Francisco, Los Angeles and Palm Springs. But the messaging doesn’t always have to travel a long distance. Even submarkets of major cities can become feeder markets. San Francisco offers world-class cultural and culinary lifestyle options to the residents of Silicon Valley. Outside-of-the-box thinking is often needed to find the prospect pool. For example, alumni magazines from major colleges with a powerful base like USC can be a targeted method to attract parents who are looking for a home in Downtown Los Angeles for their children.

5. Target your marketing.
A secondary residence buyer is a target that requires a nuanced and focused allocation of spending. The most efficient spend is search engine marketing (SEM) that allows for geo-specific targeting — obviously, a good idea with prospects visiting from both national and international markets. The second homebuyer profiles require specific techniques that go beyond traditional in-market methods. Staying connected with brokers and providing necessary tools for engagement via Proxio, triggered email campaigns and online advertising all need to be priorities. Understanding the wants and needs of the market allows you to craft a message that cleverly contrasts a prospect’s home to his or her destination of choice. It also brings the prospect one click closer to becoming a new buyer.

The seasonal buyer profile requires specific techniques that go beyond the traditional in-market methods.
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