Understanding And Educating Future Real Estate Buyers

Understanding And Educating Future Real Estate Buyers

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In this article, Debbie De Grote, a full-time real estate coach, and business consultant to some of the biggest names in the real estate market, gives her best advice on how to sell real estate and interact with different generations.

To find out more about how different generations decide whether to buy or sell a home, continue reading. Check out our highly regarded real estate continuing education course for more details on the Millennial generation in particular: Are You Prepared for How Millennials Are Changing Real Estate?

 

What You Should Be Aware Of Regarding Matures (Born Before 1946)

  • A generation that values loyalty is the Matures. They will probably follow your advice with ease if they believe you to be an authority.
  • They don't demand that you tailor your services to meet their demands; instead, they search for excellence. They anticipate that you will treat them with deference and perhaps even some formality.
  • They are more interested in your experience than your academic credentials. They don't respond well to flashy real estate sales strategies and marketing gimmicks.
  • They may find the paperwork and intricate transactions intimidating, so make the process as simple as you can.
  • Keep your communications basic and traditional, using printed materials and face-to-face or ear-to-ear conversation.
  • They are unlikely to give you the business if you don't ask for it specifically. They anticipate you to shut them.

 

What You Should Be Aware Of Regarding Baby Boomers, Those Born Between 1946 And 1964

  • One of the wealthiest groups in history, the baby boomers have an annual spending power of almost $2 trillion dollars.
  • They account for 40% of the populace.
  • They value whatever you can do to save them time because they are busy and worried.
  • While some people accept technology, they might not regard themselves as tech-savvy, and they frequently prefer to discuss issues and connect in person or over the phone.
  • It's crucial to keep in mind that this group is among those who are impressed by accolades, trophies, and rankings when you adjust your presentations for them.
  • The Baby Boomers frequently like working with a strong brand, or at the very least, an agent who they perceive to be strong and well-established.
  • They prefer to think you think highly of them and value them.
  • They enjoy traditional aggressive sales techniques and adore marketing and advertising.
  • The weekly status calls are something this group will need and want. They'll think you're not trying hard for them if you don't have them.
  • They normally give you quite a bit of leeway to guide them to the next stage of the process without much opposition if you've built rapport with them, demonstrating your interest in them, and they believe you are competent at what you do.

 

What You Should Be Aware Of Regarding Gen Xers, Those Born Between 1965 And 1979

  • The typical house buyer in your market is a member of Generation X. They demand specifics, complete disclosures, and evidence. If you don't provide evidence for your claims, they won't believe much of what you say.
  • You may rely on them to do their research, and they'll frequently think of themselves as being more knowledgeable than you are. They might not readily accept your suggestions or leadership, and they might be challenging to handle as a result. Additionally, they'll search for you up online. They will probably disregard you if you don't have any presence there.
  • After the transaction, you will need to continue to sell to them by giving them insightful and practical information if you want to keep their loyalty.
  • They will make their choice swiftly and effectively after they are satisfied they have all the information and that you are the best option.
  • You might need to take a step back with them because they need to conduct their research and want to feel in charge of the situation.

 

What You Should Be Aware Of Regarding Millennials Those Born between 1980 And 2000)

  • Millennials, who were raised in the era of pervasive technology, are frequently said to as the smartest and most educated generation.
  • They demand that each person they encounter pay attention to and value their opinions. And they don't hesitate to express them. 85 million strong, this generation is powerful!
  • These individuals are upbeat, frequently quite attached to their parents, and not in a rush to live independently.
  • Compared to earlier generations, they are considerably more likely to wait much longer to buy their first home, and when they do, it is frequently at least partially financed by their parents.
  • Before reaching out or enabling you to help them, they frequently conduct online research on you. They'll anticipate smooth, easy, and rapid transactions.
  • Text Millennials if you want to communicate with them. And friend them on Facebook if you want to learn everything there is to know about them.
  • They won't take nicely to traditional hard-core sales tactics. However, they will be just as simple to close as a Boomer if you lead them with logic, justification, and evidence.