Older Baby Boomers and Real Estate

With all the buzz in the media about the Millennial generation, it is pretty easy to forget that people who were born between 1946 and 1954 make up 15 percent of the country’s total homebuyers and 22 percent of all sellers across the nation.

That means two of every 10 of your clients are likely to be “older” Baby Boomers, and understanding what resonates with that generation can help ensure that you’re showing them the right homes for the right reasons – and that you’re marketing their homes in the most effective ways.

Baby boomers

 

Baby Boomers and Real Estate Statistics

This year, Baby Boomers are somewhere between the ages of 60 and 68. Statistics suggest that 16 percent of them purchased a multi-generational home, and most of them purchase a home that’s strikingly similar to their previous home.

Considering that 91 percent of the buyers in this age group are repeat homebuyers, and that they’re often motivated by retirement, you can strategize and plan ahead to make sure their needs are being met.

Showing Baby Boomers the Right Homes

When your clients are telling you what they want, make sure you listen: this group is accustomed to coming right out and saying what they mean, according to MSN, and at the top of the list? A fantastic, modern kitchen. Workshops and hobby studios are also among the most-requested spaces among the older Baby Boomer set.

Marketing a Baby Boomer’s Home

Let’s face it: some of us are not quite as up-to-par with the Internet and social media as we should be – but for most homes, they function as an extremely effective marketing tool. Unfortunately, you may have to convince Baby Boomer clients that you’re doing them justice by advertising their home on Facebook, Pinterest and other online gathering places, according to Andrea Lekushoff, the founder and president of Broad Reach Communications.

Want to Learn More?

Every Benchmark Realtor is invited to—but isn’t required to attend—our monthly Mastermind Meetings, where we have an information-packed hour with tips for improving your business, legal issues and so much more. Want to check it out? We hold Mastermind Meetings at 10 a.m. on the first Monday of every month at the 50Forward Martin Center on Heritage Way in Brentwood, TN.

Give us a call at (615)371-1544 or fill out the form below. We’ll be happy to talk about your future career with Benchmark Realty, and we’ll keep it all confidential.

About the Author:

Phillip Cantrell is the CEO and Founder of Benchmark Realty, LLC.