The Benefits Of Selling To A First-Time Buyer – And How To Attract Them

Posted on: 14 June 2023

The Benefits of Selling to a First-Time Buyer – and How to Attract Them

First-time buyers are key drivers in the property market and could be the ideal candidate to purchase your home. So, are you doing enough to target them?

 

They might not have the instant allure of a cash buyer, but dig a little deeper, and it quickly becomes clear that first-time buyers (FTBs) have an awful lot going for them.

 

In fact, they could be the best option when it comes to finding a buyer. So, let’s look at the pros of dealing with FTBs, and how to ensure your marketing appeals to them.

 

No chain – Cash buyers aren’t the only ones on the block who are chain-free. FTBs are likely to be renting or living with family, so they won’t have to find a buyer for an existing property. If you sell to them, the process should be less complicated and move quicker.

 

Motivated – If the FTB is living with Mum and Dad while saving for a deposit, they’ll be itching to get their own place. And if they’re in a rental property, they’ll be eager to say goodbye to hefty rent bills each month.

 

Responsive – Most FTBs will have been saving for a long time to get on the ladder and may have had a few setbacks on their home-buying journey. So when their chance of home ownership is within reaching distance, expect them to respond quickly to queries and requests for information. As they have no property sale admin to divert their attention, FTBs can focus on getting their deal with you done.

 

How to attract first-time buyers

 

Choose the right agent – If you think your property would be ideal for an FTB, go with an agent with a sophisticated social media strategy. A top agent does more than promote homes on property portals (although making good use of these channels is important). Proactive agents also offer property sneak peeks on social media, video tours and much more.

 

Good presentation – Most FTBs will spend lots of time online and be heavily influenced by platforms like Instagram. They’re used to looking at light, bright, well-curated images – and find dingy, unprofessional photos a turn-off. When researching which estate agent to work with, look at the standard of their property imagery. If it’s not high quality, take your business elsewhere.

Pricing strategy – It’s important that your asking price is realistic, as most FTBs don’t have much wiggle room in this area (recent interest rate hikes have impacted mortgage affordability). If your property is over-valued, an FTB might be put off and steer clear of your property altogether.

 

Contact us here at Normie for a free property valuation today.

 

Share:


Recent Articles

11 August 2023

How To Protect Your Pet From The Hot Weather

British summers are hit and miss. On the days you want sun, you get cloudy skies and showers; on the days you’re rushing around doing a million things, you get a mini heatwave. But while we humans can (and should) protect ourselves from the sun, what about our loyal pets?   ...

8 August 2023

Buying A Property In 2023: What You Need To Know

Buying a new home is a big step that comes with lots of considerations. Finding the right property in a good location at a price you’re willing to pay isn’t always easy and can take time.   But when you finally move into your new place to start the next chapter of...

7 August 2023

The Dangers Of A Diy Tenancy Agreement

Type ‘tenancy agreement’ into Google and you’ll get thousands of results offering free online templates and guides to writing your own rental contract.   So why bother using a letting agent to sort out the tenancy agreement if you can do it yourself? What could...

Get a free detailed report on your property

Find out how much your property is worth