The million dollar question! To be successful in any kind of business you need to understand the consumer first, learn how to target your business to them, and your potential buyer will become your client! And since Real Estate is just like any business we have learned a few ways to understand our clients!
First things first, there are generational differences sometimes so strong that targeting to an specific one has to be deeply thought about! You won’t appeal a Young Boomer in the same way you would to a Milleanial!
So let’s break down the generations who are currently buying Real Estate in the USA!
– Millenials (36 years old or younger)
What a shock! Not really! Today they are moving faster into participating one way or another into Real Estate taking advantage of their use of technology for the benefit in order to find the perfect deals! So it comes to no surprise when we see they make up a 34% of the amount of people investing now a days!
– Gen X (37 to 51 years old)
Considering that the average age of the people investing at the moment is 44 years old, it makes sense that they make up for a 28%! In this in between area, they continue to be young enough to use technologies to their benefit as well as understanding the need of an agent to talk to directly and find guidance during this process!
– Young Boomers (52 to 61 years old) & Older Boomers (62 to 70 years old)
This generation is a very complex one, they know exactly what they want, and must of them are striving towards retirement, so for them to make a 15% and 14% it’s an understandable situation! Some of them accommodate to the evolution of communication and find the perfect spot for the rest of their lives! They’re still going to find someone to help them out find it, but will have a long list of things that need to be in their dream place to fit their current needs!
– Silent Generation (71 to 91 years old)
The last generation! Much like the Boomers, this generation is looking for the perfect forever place to last them the rest of their days, they have a plan and are willing to follow through with it! They make an 8% of the population currently investing in Real Estate!
Know exactly how the market moves according its people’s age! It will help you out finding the best way to promote your business!
Remember to follow us throughout Social Media for more tips and tricks about the Real Estate World!
Do let us know what else would you like us to talk about, let’s create a discussion!