by Adrian Amos
Homebuyers are getting younger. NAR reports the average age of homebuyers has remained 39 since 2007, with first-time homebuyers averaging 30 (Gen Y) and repeat buyers averaging 49 – the upper edge of Gen X. (Baby Boomers are still in the market, but aren’t the driving sales force they used to be.)
This trend has a direct affect on your marketing and sales strategies. The three generations approach purchasing decisions and advice differently. Inman contributor Bernice Ross explains that Boomers and those born before 1965 still value experience and seek The Trusted Advisor – someone to guide them through the process and offer advice and expertise.
However, Gen X and Gen Yers born after 1965 prefer what Ross has deemed The Trusted Resource – someone who gathers information to allow the client to make their own decision. She explains:
“The power of this trusted resource approach is that it works with all generations. While the boomers may appreciate the fact that an agent has searched out and compiled the information they need, Gen Xers may appreciate being directed to where they can find the information. Those from Gen Y may prefer to do their own research, but they tend to check with their friends rather than searching exclusively on their own.”
Marketing yourself as the trusted resource will help you with all prospects, no matter where they fall in the age-line. Homes & Land can help:
- Magazine readership remains strong among all age groups, including Gen Yers aged 18-34. Mediamark Research Inc.
- Magazines continue to score significantly higher than TV and Internet for ad receptivity and trust. Simmons’ Multimedia Engagement