Wednesday, 28 October 2015

Real Estates Sales Professionals Must Know Neighbourhood Demographics

What do the words neighbourhood demographics mean to you? Pretty much everything you want to know about who lives in a particular neighbourhood and the composition of their families. How is this useful? A number of different way. For example, neighbourhood demographics can help you tell investors where there is high rental potential in a particular neighbourhood or perhaps highlight an area that a family starting out may not want to live.

So what demographics are really relevant and how can they be leveraged? When looking at neighbourhood demographics there are 4 key areas that you may want to hone in on.

1.    Population – this deals with family composition. Naturally people want to live in neighbourhoods where other families similar to theirs live. You can’t tell by looking at the outside of a home how many people in the neighbourhood are married, single, have children or don’t, age distribution, etc… Perhaps seniors that are downsizing would like to live in a quiet community that has a higher population of older residents. On the marketing side, looking at trends in the population can enable you to adjust your messaging to hone in on niche markets in the area you serve.

2.    Households – this deals with the types of properties in the area and how they are being used. You want to be able to know percentages of owned vs rented properties for both investors and families who may not want to live in neighbourhoods that have a high % of renters. Average sizes and ages of homes in the area are also very relevant demographics that you want to know and be able to discuss with your clients. You can also use this information to identify shifts in neighbourhoods and what it could potentially mean to you later if you cater to a particular market but the face of the community you are working in is changing.

3.    Socio Economic – Back on the theme that people want to live in communities that have other people like them – many buyers would probably like to know things like the education levels in a community. The type of worker – white collar vs blue collar, dominant professions etc… Socio economics also play a huge roll in marketing. The needs of a family can change depending on income levels, likes and education. Targeted marketing works better. Again, knowing the people in the community you are marketing in enables you to come up with marketing initiatives that connect with prospects.

4.    Cultural – Cultural demographics are important not just for your clients but also to you in terms of your marketing efforts. Cultural demographics highlight ethnicities, religions and dominant languages of people who live in a community. From the perspective of your marketing – identifying neighbourhoods that have common cultural demographics can enable you to look at marketing in ethnic magazines or even in other languages.

Knowing the demographics of the neighbourhoods you serve, for obvious reasons, makes you more knowledgeable and able to offer a higher level of service – and it also makes you more agile because you can diversify your marketing and even messaging according to the communities you are marketing in.

If you would like information about a tool that helps you access all of the above neighbourhood demographics information and more please visit www.geowarehouse.ca.



4 comments:


  1. Toronto's central real estate market is a challenge for Sellers and Buyers alike. Those seeking to live in the city's core are coming up with creative solutions.Please visit[http://www.jalilirealty.com] Power of Sale real estate Toronto

    ReplyDelete
  2. I read that Post and got it fine and informative. Real estate Marbella

    ReplyDelete
  3. Luxury Villas for sale in Marbella, Spain.
    Lovely family villa with sea views in El Rosario, an established residential complex in Marbella East. Distributed over one level, this south-facing home has been completely renovated internally to a high standard. A courtyard leads to the main entrance of the property. The villa has a spacious hall with access to a cosy, bright living room with fireplace, modern kitchen with dining room, play room, laundry area, en-suite master bedroom, 3 guest bedrooms, 2 bathrooms and a guest toilet. Large covered terrace with access to the beautiful mature garden with swimming pool. Garage for one car. Features include: pre-installation for air conditioning/heating, marble floors and ample parking space for guests. A well-priced property close to all golf courses, amenities and within a 10-minute drive to Marbella town.
    Luxury Properties for sale in Marbella, Spain.
    Luxury Villas for sale in Marbella, Spain.
    Completely Refurbished Villa in Gated Community, in the Heart of Nueva AndalucĂ­a. This is a beautiful, completely refurbished 5 bedroom villa in a secure gated community, ready to move into immediately. SpainForSale.Properties is an Exclusive Real Estate Agency offering Luxurious Properties For Sale and Rent on the Costa del Sol, such as: Luxury VILLAS FOR SALE IN LOS FLAMINGOS SpainForSale.Properties is considered one of the most trusted Exclusive Real Estate Agencies in Marbella, Costa del Sol and other “Prime Locations” in Spain. Live on the Costa del Sol and Enjoy a Luxurious lifestyle in one of the most beautiful places of the World. Luxury Properties For Sale in Prime locations of the Costa del Sol: Mijas, Marbella, Benahavis, Estepona ….

    ReplyDelete
  4. The villa is situated in a small cul-de-saq road and offers full privacy. South facing with lovely pool area.

    Luxury Properties for sale in Marbella, Spain.
    Luxury Villas for sale in Marbella, Spain.
    This luxury property for sale was recently refurbished to highest standards. Located in a gated community with 24h security the villa comprises of 5000m2 land with wonderful views towards Marbella and the sea. Nestled in manicured tropical gardens the property offers 100% privacy and security.
    On the ground floor there is a very spacious living area, separated in 2 sections through a huge open log fireplace. Adjecent a dining area and a modern open plan kitchen with separate laudry room. The whole entrance level has double height ceilings. All these areas have open views to the gardens and the pool. On the covered terrace you have the al fresco dining and chill area. Next to the generously sized pool there is another chill and sun area.
    On the entrance level there is the master suite with dressing area, an office and 2 more en suite bedrooms. The tv room can be separated through sliding doors into a guest bedroom with its own en suite bathroom.
    The first floor houses another 2 en suite bedrooms.
    The driveway offers space for at least 8 cars.
    3h cleaning per day included.
    Gardener staying in the staff house and taking care of pool, technical problems and garden.
    Optional: Full time maid or chef. POA
    Luxury Properties for sale in Marbella, Spain.
    Luxury Villas for sale in Marbella, Spain.
    Introducing an exceptional modern villa located on one of the most exclusive plots in La Cerquilla, and benefiting from some of the valley's best views. Luxuriously designed and equipped, the villa benefits from 5 en-suite bedrooms and one spectacular master suite. Sale and Rent on the Costa del Sol, such as: Luxury VILLAS FOR SALE IN LOS FLAMINGOS SpainForSale.Properties is considered one of the most trusted Exclusive Real Estate Agencies in Marbella, Costa del Sol and other “Prime Locations” in Spain.

    ReplyDelete