New research among home movers in and around Edinburgh has provided a fascinating insight in to how home buyers search for property. That’s potentially important information if you are thinking of selling – wherever you live.
The research, commissioned by ESPC (Edinburgh Solicitors Property Centre) and conducted by an independent market research company, shows that buyers use a mix of different media in their hunt for a new home.
The results show that over a quarter of buyers (27%) use newspapers in their search and almost half (43%) look in the windows of selling agents in their area. Since the great majority of buyers are also using web sites, that suggests that they use a range of media to find the right home for them.
They may, for example, find a property in print, but go on-line to get more details. Or set up searches on a web site, but check agents’ windows to make sure they aren’t missing out. We regularly see visitors to the GSPC web site searching for properties by reference numbers which are printed in our weekly Property Guide.
For prospective sellers, there are two important conclusions to be drawn from this.
1. Use a blend of media
The most effective advertising for your home is likely to be a blend of media that includes newspapers and a local presence as well as internet advertising. You are unlikely to get the best possible results if you rely exclusively on internet advertising.
2. Think local
The thing about newspapers and estate agents windows are that they are local. They work because most buyers live locally. An analysis by the Registers of Scotland shows that 90% of those buying inEdinburgh already lived within 24 miles of the home they bought. You can find more details of that research here. ESPC also analysed data from the Register of Scotland for 2011 and came to much the same conclusion.
So, if you want to maximise your opportunities to sell, make sure the advertising for your home includes print as well as digital and focus on your efforts on your local market.