The Importance of Psychographics and Real Estate
Psychographics incorporate personality, values, attitudes, interests, and lifestyles
When most agents present their marketing plan with the seller, they will usually only talk about the demographics of a potential target buyer, which is now standard practice. However, very few agents discuss the importance of psychographics.
Demographics include age/gender, race, location, and employment. Psychographics incorporate personality, values, attitudes, interests, and lifestyles.
If you know how people choose and compare products in your category (real estate), you know to structure and prioritize content (features/upgrades in the home). Some psychographics are easy to ascertain. For example, we know these are instant gratification and push-button times. Need a car? Click a button on UBER. Need a movie? Click a button on Netflix. Need groceries or any product imaginable? Click a button on Amazon. Clicks are trending to voice and everything streams over wifi. The internet is one of the most critical systems in most households. Therefore, smart homes that are Alexa or voice-enabled may help you sell faster. This is an example psychographic of lifestyle. Does your home sit near or walking distance to a place of worship? A potential buyer may find value in this realization.
To be consistently effective, marketers must hone in on peoples’ basic desires and expectations. This is where psychology intersects with today’s marketing world. In order to make an impact, marketers need to understand consumer behavior and psychology.
One way the top real estate listing marketers appeal to potential buyers is through an emotional appeal. Those seeking the experience of a healthy family environment will respond to concepts that include happiness, humor, commitment, and nostalgia. We use videos depicting a large family having dinner in a beautiful house or a big moment in a person’s life like getting engaged. Everyone can either relate to or long for these critical moments in life.
According to the National Association of Realtor’s Profile of Home Buyers and Sellers 2012, 65% of consumers in the real estate market were married couples. Taking this into account, our advertisements will typically aim to connect on a psychological level with this demographic by depicting arelatable concept. Those seeking the experience of a healthy family environment will respond to ideas that include happiness, humor, commitment, and nostalgia.
However, many home buyers look at more practical features when buying a home. They want to save time and money with easy commutes, live in quality neighborhoods, and buy a home that is energy efficient. When creating ads for practical people, real estate marketers must present minimalism and efficiency. The best listing real estate marketers need to show a mixture of emotional and practical marketing to appeal to a specific enough segment, so results are visible. Buying a home isn’t just a huge financial investment; it’s also an emotional investment as well.