How to easily engage 5 Generations of Home Buyers
Engaging clients with information that appeals to their demographics is not always easy. However if you take the time to understand their needs it becomes easier to persuade them to list with you. Breaking down your clients into the five generations makes it easier to engage them with the information they need.
1. Generation Y (32 and under)
The Gen Y client is looking for a trendy, up and coming neighborhood, usually with a focus on an urban setting. This group tends to be first time buyers who would truly appreciate you taking the time to walk them through the buying process. This includes covering information of what they should expect for paperwork, showing them you really understand the neighborhood, providing information about their commute and going over what they should be looking for in a home. 85 percent of Gen Y will end up buying a previously owned home so sharing information such as articles or a real estate newsletter on easy DIY projects will help them see past diamonds in the rough. As well many might be concerned about the environment so green articles work well.
2. Generation X (33 – 47)
This group buys the largest houses with an average square footage of 2100. Almost 70 percent of Gen X have at least one child and almost half place good schools as a top priority when it comes to their neighborhood. These families usually choose a home that is no more than seven miles from their first homes, often due to the fact they want their kids to be close to their current school. Sharing information with them about schools, or real estate newsletters with articles about education and family friendly living would be of the most interest to them.
3. Late Baby Boomers (48 – 57)
This age group tends to be looking for a deal on their home. They often are shopping for a second home or even an investment property. If they are seeking their primary home, they usually intend to live there for an extended period of time of 16 or more years. Because this age group is more willing to compromise on condition to get a good price, they are often good candidates for foreclosed homes. Share information about the benefits of purchasing a foreclosure and the process in hand with long term benefits of purchasing this type of home. DIY quick fixes for rooms such as kitchens and baths are also helpful.
4. Early Baby Boomers (58-66)
This is a group of home buyers who are at the stage in their life where their kids have left home and they are ready to downsize and often relocate. This means they are often looking for condos or town homes. They are interested in a quality home requiring little effort or work and are not troubled by the thought of a new location far from their current home. They want an energy/cost saving home that is affordable. Real estate newsletters about the benefits of condo living, tips for energy efficiency and what to look for when it comes to energy efficient features work well for this age group.
5. Silent/GI Generation (67 plus)
At this age, people are looking for their retirement home with a focus on smaller living spaces. The average reduction in the size of home purchased by this group is 200 square feet. They are not as willing to make compromises from their wants and needs lists and are also looking for a bargain, so often will put in offers below asking. Sharing newsletter articles about the different types of small home options, how to adapt to condo living, the different types of retirement communities and how to decorate and downsize for smaller homes are all ideal topics for this age group.
It requires some pretty targeted real estate brochures to provide the information each generation needs. Finding a newsletter service that covers these special areas and topics was close to impossible until the launch of Realtour’s Ready to Send Newsletters. We offer a unique collection of topics that are targeted to the five generations of home buyers allowing you to use keep in touch marketing to engage each age group. Our affordable subscription allows you to send individual newsletters to each client you are assisting with the information each generation requires. You can also send out group newsletters with general information to your entire client list all for a single low monthly price.
If you would like more information on this unique real estate newsletter service please email firstname.lastname@example.org.