Smart Use of Psychographics in Home Staging

Initially, the focus of home staging was to neutralize your home in order to appeal to a wider market of potential buyers. But that often results in the fatal side-effect of becoming a “forgettable” home.

Forgettable Homes: Not distasteful, but not memorable enough to make the short list.

The latest trend in Home Staging is target marketing, or “Lifestyle Merchandising.” Designing a space to attract a more specific buyer.

This is nothing new – consumer product companies have been using this science for years. It’s about getting more specific data from a lifestyle perspective to attract the most likely buyer demographic. This involves defining not only demographics, but psychographics and lifestyle profiles as well.

As a seasoned marketer, I totally get the value of target marketing in staging. But I’m cautious to find the right balance between casting a wide (enough) net and targeting a specific buyer. I believe you should be as targeted as possible based on the data you have. Assumptions can be dangerous, and going too far in either direction can be ineffective.

So how do you find good data? By working with a knowledgeable Real Estate Agent who really knows the area. The stager and agent should work closely together to understand who they’re trying to attract.

Data sources:

  • Comps
  • Nearby retail (shops and restaurants)
  • School data
  • Interview Sellers about the area
  • Local sport teams, art galleries, etc.

Realtor.org published helpful definitions by Hal Douthit, a contributing columnist to The Real Estate Professional and creator of Re/Ad, a computer ad writing program for real estate. He’s the publisher of 19 Homes Illustrated magazines and 13 newspapers.

Hal applied psychographics to real estate sales, and articulated five market segments among homebuyers and sellers, as illustrated in this chart presented in Realtor® Magazine (click chart to enlarge):

real estate buyer psychographics

So before you list your home, make sure you have a solid team on your side to help you prepare your home in the smartest way possible for the quickest sale possible.

There is a careful balance in translating the science of data to the art of purposeful design. And the right combination is powerful!

 

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Comments

  1. you have a point, smart use of psychographics can really help to be successful on home staging.

  2. Hi! I agree with you. If you have the right data from reliable sources, staging with a target market focus can really help sell a home quickly and profitably. In addition to whatever the realtor tells me about the property and who the most likely buyer is, I look at the homes in the area (are they more traditional looking on the outside), and the stores nearby (upscale or discount) and how many schools are nearby. I also take a look at the neighborhood on a Saturday and notice how many kids are outside playing and I look at the cars in the driveway. These are little giveaways that can help also.

    But – in the long run, I find that when you create a warm and peaceful feeling in the home, that goes a long way with buyers. Helping them to imagine themselves cooking in the kitchen, helping their kids or grandkids with homework, enjoying the football or baseball games in the den and enjoying a barbeque with family and friends in the backyard – these things are universal and help sell a home.

    Thanks for all your great blog posts and astute observations!

    Linda