The work of real estate agents today often focuses on two central audiences: baby boomers and millennials. That’s because boomers own a sizable portion of the real estate market, and millennials comprise the generation that is most ready to buy a home. Finding common ground between these two groups is critical to helping close real estate deals. In order to help you build that bridge, here are a few tips on how to reach both generations.
Maintain a Strong Online Presence
Millennials are considered digital natives, but boomers are also avid online users. That said, maintaining a strong online presence is crucial for business success. Use your website and social media to offer a variety of educational resources that foster trust and encourage people to get in touch. Give your online identity a visual boost with vivid imagery and modern, easy-to-use features, such as a chat app. Make sure you follow up any in-person interactions with an invitation to engage virtually, and you’ll speak to both millennials’ desire for instantaneous connection and boomers’ need for a trustworthy point of contact.
Conduct Research On Millennials and Boomers
The best way to learn what messages resonate with boomers and millennials is to do research. For instance, did you know that 29% of home-seeking millennials are just married or starting a family? And that 42% boomers have the highest rate of homeownership in the country? Once you understand what makes each generation tick, you can take action accordingly.
Stage a home for domestic bliss by converting the guest bedroom into a playroom (and incorporating other like-minded elements). Work to understand why boomers are reluctant to sell their homes (financial concerns, aging-in-place trends). Knowing the backgrounds and desires of both generations also allows you to parlay boomer-based values into millennial wish lists. For example: A high quality of life is common ground for both these groups, making luxury amenities and smart home features an easy renovation win.
Rely on Technology for a Secure and Easy Closing Process
Security-minded boomers and Internet-adept millennials alike will value a tech-forward closing process. You can partner with a modern Title and Escrow company that grants clients instantaneous clear-to-close and streamlined communications for an optimal experience.
Doma, for instance, allows clients to access and sign documents through an online portal that eliminates the snags and errors that accompany manual methods. A partner like Doma allows you to meet expectations of a professional experience, which can further your reputation and allow you to grow your client base.
Sources
- Luedeman, B. (2021, Feb 17). 2021 Real Estate Trend Report: Moving Into Modernity. Open Report. https://www.opendoor.com/w/blog/2021-real-estate-trend-report
- Jones, J. (2021, Dec 2). Baby Boomer-Dominant Housing Markets. Construction Coverage.
- https://constructioncoverage.com/research/baby-boomer-dominant-housing-markets-2020
