| Ways to Attract a Trade-Up Buyer Although many of the properties we sell on the Westside are to first-time buyers, with interest rates more attractive than in many years, the era of the "trade-up buyer" has re-appeared. Certainly there are ways to attract trade-up buyers and there are agents at this time focused on special marketing techniques to attract this particular niche of clientele. Marketing creativity and success starts with the development of techniques and daily activities directed to attracting a trade-up buyer. One technique used by top agents is a daily search on the computer of properties that have just entered escrow. Based on my independent study, I have discovered that many sellers of condominiums and small single-family homes will trade up for their second home not more than five miles from their existing property. For that reason, we regularly send a congratulation letter to these folks and several of my featured trade-up properties for them to consider. A cordial note is enclosed expressing our willingness to cooperate with the buyer's agent. Other top agents canvass door-to-door and make cross-directory phone calls to attract "trade-up buyers," particularly in an area immediately adjacent to a new upscale listing. Postcard mailers are another popular tool used by top agents to get the word out to potential trade-up buyers. The agent willing to go that extra mile and spend some out-of-pocket cash will invest in producing a printed postcard and pay for postage as necessary so that homeowners in an adjacent slightly less upscale area can be privy to what might become a home now within their means. The best source of all, however, to attract the trade-up buyer is the agent who is currently engaged to sell their existing home. No one has a more direct contact with the "trade-up buyer." When getting ready to sell your home, always consider who can best serve you and who may have this best chance of bringing you a qualified buyer. The more contacts an agent has the better your chances may be. Many times the listing agent of one home becomes the selling agent to the "trade-up buyer."
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