Although real estate agents, developers, and investors cannot legally identify the target audience for a property or opportunity being marketed, it is often obvious when an age group or ethnic group would be an ideal fit. As my valued clients, students, and connections can tell you, there are creative methods for marketing accordingly.
Understanding the target audience and “reading the room” are major elements of the real estate research I handle, whether for promoting a listing or improving a Business Plan or Offering Memorandum. Part of the understanding is knowing habits, especially spending habits and preferences, of your target audience.
The below linked article is a perfect example, as it details spending habits of Millennials along with what they look for when making purchases. For our purposes, looking to rent a property is a purchase because it involves consistent monthly expenses whether they rent or buy. We see that many Millennials consider sustainability and related environmental concerns as being important, along with payment plans.
If the property or opportunity you represent has sustainable elements, and would appeal to Millennials, it could be better to highlight those ahead of other amenities. Payment plans are attractive to renters, while seller financing or down payment assistance could help for purchases when presented in the best possible light. However, if the property appeals to seniors, it is better to highlight proximity to healthcare, the fitness center, and security.
Our real estate research team is here to help you help prepare, market, and present properties and opportunities, whether through research, public speaking training, or our preparation strategies. We love to help our clients be “first in” to the closing table!
https://www.emarketer.com/content/faq-on-millennials–how-brands-reach-this-generation-2026