Choosing real estate by the numbers … or not so muchJeff Geoghan
Over the last five years or so, there has been a tremendous emphasis on “the numbers” of real estate: lot sizes, square footage, price/tax ratios, what have you.
Large web companies have made it their business to pack in the most numbers to their property listings, and with some good reason. Consumers today are almost universally thought to prefer more information-intensive presentations. Buyers are seeking facts on which to base their decisions.
This has been particularly true in the resale of foreclosures around Central PA with all the market price comparisons online.
However, national thought leaders have also been giving more and more lip service to “lifestyle marketing” as a general marketing concept (not new by any means, of course) but specifically with regard to real estate. This concept of selling the “soft features” of properties such as amenities, convenience, the functionality of floor plans, has also been around but is perceived to be taking on a new relevance as the real estate market emerges from an inventory-laden cycle to one where buyers choose from among several “good” options looking for the “best” personal fit.
In fact, some national ad campaigns from large real estate brands (my own included) in the recent past have focused almost entirely on the experience of living in a home you own.
I feel this is a positive trend in real estate marketing and one where perhaps we’ll see a spark of interest in re-engaging what’s so great about hometown USA – not the abandoned property down the street but the block parties, community and design features that make a location unique. The buyer in 2013 is likely to settle on a core set of numbers and then dig into the lifestyle choices a given property represents. Enjoy!
Jeff Geoghan is vice president of marketing and communications for Coldwell Banker Select Professionals and Select Services, based in Lancaster City, with 10 offices in eight Central Pennsylvania counties. Jeff lives in East Petersburg where he also serves as mayor. Jeff has been actively involved in local government and business and has been used as a source by local, regional and national publications.