10 May The Growing Power Of Female Home Buyers
There have been a lot of articles and studies published recently talking about the growing power of female buyers. Their buying power extends to multiple markets including the automotive and home markets. According to the She-Conomy.com blog, women make 85% of all brand purchases. That is a powerful statistic. Coupled with this are reports on rising female salaries and an increase in single women home buying. If we know women are earning and spending significant amounts of money, how do we connect with them?
According to a recent Builderonline.com article the answer lies in social media communication. At this year’s International Builders Show in Las Vegas, a panel of four female real estate professionals pointed out several key statistics that we should be paying attention to. According to the panel, 72% of female Internet users said they had learned of a brand or product online or had joined a group dedicated to a brand or product. The panel also noted that 80% of female Internet users claim they would become a fan of a product or brand on Facebook. Additional research indicates that women influence 91% of all home-buying decisions.
So what does this mean for builders and developers?
It means that researchers are finding clear channels to communicate with an ever-growing market demographic and we need to pay close attention to it. It’s time we start tailoring messages to the female buyer in multiple real estate markets. From luxury condos to single-family homes, the female buyer is emerging and lucky for us, we know where to reach her.
The Internet and social media are continually proving to be a strong communication channel with female homebuyers. There is so much to gain from it. We can find out what they want, like, or don’t like, and talk to them directly. If you aren’t considering targeting this demographic yet, I would suggest you start considering it. There is going to be a lot of potential coming from female homebuyers.