Archive for January, 2010

Selling houses to Baby Boomers as easy as X, Y, Z or is it? – Part 2

Posted on 01/16/2010. Filed under: Baby Boomers | Tags: , , , , , , |

Lifestyle Matters

Lifestyle Matters

Just knowing the differences between each generation should help you market to these very unique groups.  But I am going to add some “secrets” you can’t afford to ignore.  Most of the first time buyers (about 75%) are in Gen X or Gen Y but these groups are distinct.  Gen Xer”s are putting off marriage and families while gen Yer’s have 2.3 children.  What do yo do with that .3 child at the playground?  Gen Y couples might be more interested in single family homes.  Condos and townhomes may be the better answer for Gen X.

Reaching this group requires new marketing techniques.  Neither group likes newspapers.  The only magazines they enjoy show fun and active lifestyles.  Your ads need to show pictures of young singles and families enjoying the lifestyle specific to your area.  For Baby Boomers, concentrate on pictures of couples buying vacation homes or downsizing their home.

Social network sites are heavily populated by these generations.  The key word here is “Social”.  Treat Facebook, Twitter and the rest like any other social get together.   Engage in conversations with other people with like interests. Don’t spend time trying to sell a product or your accomplishments.  Instead be the likeable, social person who happens to be the local expert on real estate.  Gen X and Gen Y in particular, like to get to know the “real” person with whom they are going to do business.

Location, location, location – still true.  Today’s buyers want quality lifestyle in a quality neighborhood.  What constitutes a quality neighborhood?  Convenience!  Convenience to work, family and friends.  Quality of the schools was very high in importance to young families.  Family and friend time is considered a high priority. Lastly, what type of lifestyle is offered to the new homeowners?  All of these conversations should take place before showing your buyer a new home.

Another important factor of this group is how long they keep their houses.  As the younger homeowners change employment or family style, they need to move.  The average time for this is about 4 to 5 years.  Singles get married and want a family which means moving from a condo to a single family home.  Young  families are growing and need larger homes.   At the same time Baby Boomers are looking for smaller homes for vacations or retirement.  Both groups giving you a steady stream of referrals and future business if their experience is considered beneficial to them.

Mike Cathell,  ePro Realtor at Florida Future Realty, Inc.          Finding Dream Homes in SW Florida – Ft. Myers, Estero, Cape Coral & Lehigh Acres             Cell:  (239)  770-6250       Office:  (239) 542-8521      Fax:  (239)  542-8522                      Email:  jmcathell@comcast.net

Real Estate blog:  http://ActiveRain.com/thegotoguy                                                                                                                                  Web:  http://michaelcathell.point2agent.com

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