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Targeting single women as first time home buyers

January 10, 2014

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The number of single women buying homes is on the rise.  Do you have a marketing plan to target single women? Maybe you should. According to data from the National Association of Realtors, single women – a group that represents divorced, widowed and never married – represents 20% of all home sales. That is second only to married couples, who are about two-thirds of the market, and it’s twice the level of single men at only 10% of the home buying market.


Woman or real estate agent showing keys, on white

To build on this trend, USA Today ran a recent article with tips for single women looking to purchase their own home. While the tips offer great advice for any first time home buyer, the information included in the article gives realtors some clues on how to make single women more at ease during the process. It also gives you an idea of the questions a single woman, especially a first time buyer, may have so you can be prepared to be a great resource for her.

This article in MSN Real Estate “11 Things Women Want in a Home” explains that selling to women requires an agent to cater to the different ways women approach home buying. According to the article, women respond to a home’s aesthetics more. A man may love the space in a room but a woman is checking out the cabinet hardware. When you’re selling a home to a single woman with kids, focus on the closets or storage space. She’s busy, she most likely works, and she needs to keep her family organized to retain a sense of control over clutter.

Location is also a key factor for a variety of reasons. Is it a safe neighborhood? Feeling safe in her own home is a crucial selling point. Point out which neighborhoods have the lowest crime rates or show her a top floor condo that has secure parking available.

But beyond safety, is it a friendly neighborhood that could serve as back-up support for a woman living alone? Can her kids easily get to school? Have friends nearby? Will a neighbor help her start her snow blower, if needed?

One of the biggest ways you can help a single woman with her big purchase it to walk through the total cost of ownership, which includes budgeting for maintenance. Female homebuyers want a low maintenance home. According to the MSN article, women love no-paint exterior siding, no-fuss landscaping and homes that are new or recently renovated. Talk to your potential buyer about the time involved in general home up keep, especially if they are young and have never had to maintain a property. If she is leaning towards a huge yard, make sure to talk about the time it will take to mow the lawn vs. the cost of hiring a lawn service.  Guide her on how to have enough money to cover one major home repair a year. You just never know what might happen.

By helping to anticipate her questions, guide her in this important decision, and find the perfect home for her needs, targeting single women home buyers could become a rewarding and lucrative part of your business.

Are you actively targeting single women to grow your business? What tips do you have to share on how to best serve this market?

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About century21affiliatedchicago

Century 21 Affiliated-Chicago (“C21AC”) is a full service real estate brokerage firm located in Chicago with a focus on residential and commercial properties. Our agent base and management team includes a wide range of specialties serving customer needs across the ever changing real estate landscape, with expertise in many niches, including REO transactions, investment sales, bulk purchasers and sellers, commercial product and traditional residential transactions. C21AC is part of Century 21 Affiliated (“Affiliated”), a top 5 franchisee in the Century 21 system with over 30 locations across the Midwest and over 32 years of history. C21AC entered the Chicago market in February 2011 to re-launch the Century 21 brand in the downtown area and to bring a proven operating platform to the large and fragmented Chicago real estate market. At Century 21 Affiliated, the customer comes first. Our complete commitment to delivering top-notch customer service to our clients is what distinguishes us from our competitors and makes us such a powerful force in the real estate industry. Specialties Residential Sales, Commercial Sales, Short Sales, Bulk Sales, REO's, Leasing, Business Services

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