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I don't find them the easiest to work with always. They usually have bigger expectations than they can afford and it is hard to get them to be realistic at times.
Buyers that don't have to purchase contingent on the sale of their home and are flexible in terms of closing date are probably easier than buyers that are also sellers and have a lot of timing / moving issues. But I would have to agree that many first-time-home-buyers have very unrealistic expectations.
Try marketing to apartment residents. Figure out what the monthly payment might be in a lower purchase price range and target those communities with rents near that figure. Most of the renters I've worked with believed they couldn't qualify for a purchase.
Your marketing might also include examples of first time homebuyer programs.
Location: Danbury CT covering all of Fairfield County
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Primarly, the first time buyers have found me through some internet marketing I do, and not in my immeadiate area (about 30 minutes south or southwest). Almost all the apartments are privately owned homes, opposed to large complexes so I can't just send out 300-500 mailers randomly. Any ideas for me?
These days I'll take both experienced and inexperienced buyers thank you very much!
My preference is for those who've been through it before. They understand most everything already, banking, taxes, paperwork. First time buyers are usually nervous ninnys who need handholding every inch of the way. But if you have the patience and do the job right, they'll be repeat customers which are gold in this field.
From a hick agent's perspective to a city cousin, go where the "usual suspects" can be found and network. Find a place where young professionals like to hang out, that you're comfortable in of course, and join in. Forget the fresh out of college crowd, too poor and too mobile. Mid 30's is almost too late. Figure where the late 20's to early 30's crowd hangs. Good luck!
Optimize a page of your website specifically for first time homebuyers.
Place an ad in the rental section of the local paper or magazine.
Hook up with a mortgage broker that caters to first time homebuyers.
Have a seminar for first time homebuyers.
Advertise homes that are 'perfect' for first time homebuyers.
Place an ad in the paper just advertising a first time homebuyer kit which they register for at your website.
Pay per click program geared just for first time homebuyers.
See if your title company can give you a list of those that don't own homes...your title company is a source for great information regardless of the audience you are looking for.
Eye catching post cards, again offering a free first time homebuyer kit then have to register for at your site. While it may be a little costly, just one deal more than pays for it and at the same time you are getting hits on your website moving it up naturally which is worth much more.
That's all I can think of right now, lol.
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