A passive buyer is someone who is not intentionally searching for a property right now, but who will enter the market to buy when they see a property that is perfect for them.
Passive buyers are highly emotional. They fall in love with a property because it seems to tick all the boxes they want to create their ideal lifestyle. Seeing the perfect home sets them off on a home-buying adventure.
Passive buyers are extremely valuable to attract to your property because they are more likely to pay more for your property than buyers who have been searching for a while. They are less likely to have done a lot of research and will not be as logical in their price analysis compared to other buyers. In an auction, they can help push up bidding and can help galvanise other buyers by creating some motivated competition.
But the trouble with passive buyers is that because they are not actively in the market, they are unlikely to be searching on property portals or the traditional places where properties are marketed.
To attract passive buyers, therefore, you need to execute a broader marketing campaign. Here are some key ways to find them:
Signboards and letterbox drops
Putting up a signboard when you sell your home alerts your neighbours that your home is on the market and can be an important part of a passive marketing campaign. People who drive past your home every day may have admired your home from afar and will be alerted to the fact it is for sale. This is one of the reasons why we also letterbox drop flyers in the streets surrounding your home. You never know who in your area has always loved your home and would love to own it.
Print advertising
While it can be expensive, print advertising can be worth its weight in gold if it brings in a passive buyer. Readers parse through local newspapers and magazines, attracted to the beautiful photography and articles. Your home can be a page stopper for the right buyer capturing a local audience that may not see your sign board or flyer, but knows the area and its attractions well, and will be inspired to act when they see the perfect property for them.
Social media advertising
Whether its an Instagram story, a Facebook ad, or even a Pinterest pinboard, investing in beautiful photography or video for your home is worthwhile because of its reach on social media.
We can target social media advertising to reach the right demographic match for your home regardless of whether they are actively in the property market or not. For instance, if you have a family home with a pool, outdoor entertaining area and wine cellar, we can use targeting to put your property in front of women over 30 with young families who love wine. By sharing the post about your property with your friends and network, you can increase this passive audience considerably.