Modern Homebuyers: Treat them right to win big – Part 3: The Boomers

Posted on: 11/06/2017

Modern Homebuyers: Treat them right to win big – Part 3: The Boomers

Text Message Marketing For Real Estate
Text Message Marketing For Real Estate

Text Message Marketing For Real Estate

The final type of homebuyer you should know about is the “boomers”. These people are getting older. They are the ones that have seen it all and, in some cases, done it all. They’ve seen new forms of communication spring up such as text message marketing for real estate and the Internet with all its newfangled social networks. And they’ve seen some really awful parts of real estate as well — economic crashes and housing busts.

In addition, they’ve had the big house with all the frills and now they’re ready for something that doesn’t require so much work, or so much of their income. They’ve raised their family and are now ready to retire. They deserve it. But that does mean they’ll probably be on a fixed income for the rest of their life. They want to downsize. Find a home that fits them and the new lifestyle they are stepping into.

The baby boomers are now between 50 and 70 years old. With most of these people recently retired or looking to retire in the near future, it’s no wonder they’re looking for a comfortable place to live that doesn’t cost a fortune. They want something that fits their needs. Find out what those are by asking questions that are pertinent to their lifestyle and habits moving forward. Perhaps a one-story home with an open floor plan will do. Or maybe even a townhome where you don’t have to worry about yard maintenance.

There are a lot of different options when it comes to housing in our day and age. Many are new options that have been added to the real estate market in recent years and some just weren’t as popular twenty, even thirty years ago. When you sit down with boomers be sure to let them know about all the housing options that they have to choose from. Perhaps there is a housing option that they didn’t know about, or consider that would be exactly what they are looking for. You never know. All you can do is introduce the options on the market and work with them to make the best decision they can.

While trading down to a smaller home means less money for you in a single sale, it doesn’t mean that boomers aren’t worth working with. Usually their income is stable and they have money from the sale of their previous home to use toward a new one. And most qualify for purchasing a home easily. They’ve been building up their credit for quite a few years now and their savings, now that the kids and big house are out of the picture, is looking pretty nice as well. So don’t despair if you think a boomer client isn’t going to choose a housing option that will give you the highest commission.

However, the real money in working with boomers actually comes from the amount of people they know. Or the amount of potential clients. Just as with Gen X, they are very well connected individuals. They’ve lived a long enough time to have made friendships with many people. Also, they have a growing family now that their kids are out of the house creating their own families. There is so much great networking potential when working with a boomer. And it’s true what they say, old people love to talk, especially to anyone who will listen. If a boomer client see’s that you are going above and beyond for them, they might end up talking about you enough where they’ll do your networking for you.

In addition, they have cultivated sincere, long-lasting friendships. Their friends trust them. Use their network to find potential clients, and who knows? Maybe those clients know people who are looking to find a better place to live. The money with boomers comes from the volume of clients you work with, in this case, rather than the size of the home bought.

If you have a can do, or I’ll get it done attitude, they will notice. Boomers are fond of those that showcase a strong work ethic and will stop at nothing to get the job done. You want to be the realtor that does this for them. You want to be the one with a strong work ethic who gets things done.

When working with Boomers, it’s easiest to start is by doing a bit of digging with them. Find out what they want. Just like millennials and Gen X, they are trying to find something that fits them and their lifestyle. Do they want a home that’s low maintenance? A home they can stay in for the rest of their life? Try to find the best housing solution for them. And remember, it may not be a house; townhomes are a great solution since the owner doesn’t need to worry about the outside upkeep. Introduce new housing options and see if they are open to entertaining the possibility of living in such a place.

This generation, as you can imagine, is most comfortable communicating on the phone or in person. They may have email, but check to see if they use it regularly if that’s the form of communication you are planning to use with them throughout the buying process. You definitely don’t want to send them something that they don’t see for days, or worse, weeks. That would be detrimental to any real estate purchase!

In addition, it would be wise to ascertain whether they’re well-versed in using any other form of communication such as text or social media. Who know’s? You may find out that text message marketing for real estate or Facebook is their go to communication channel. If it is, you are in luck. And if you find that they are versed in all kinds of communication, you can do the same thing that you do with your Gen X clients, and use the form of communication that best fits you. So, if you deal a lot in text message marketing for real estate, this may be the best client ever. However, don’t count on this being the case.

In the end, it may take a little more time to work with these individuals, but it will be worth it. They, too, can make great clients that payoff for years to come. Leverage their networks in order to get as many leads as possible. And as every good realtor knows, solid leads or referrals lead to solid client, great sales and more income for you.

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