Millennials and baby boomers own the real estate market. While the former comprises the largest buyer pool (37%), the latter comes in quite close, at 32%, according to NAR’s 2021 Generational Trend report.
The problem with agents being so hyper-focused on millennials is that few have homes to sell. In fact, only 22% of them are sellers.
Boomers, on the other hand, are large and in charge of the seller’s market, owning 32% of it, right behind them, however, is that forgotten generation, Gen X.
While many veteran listing agents typically don’t actively pursue buyers, it may be time to change your strategy.
Members of Generation X, (age 45 to 56) are among the most likely to consider selling and for several reasons. Chief among them is to find a home that better fits their new normal: no more commute, working from home, home schooling kids and finding a large home so Mom and Dad can move in.
Gen X is in the house
While baby boomers hold the most money, Gen Xers earn the most of all living generations. They lost a lot during the recession – more than any other group. But, they’re currently the only generation to reclaim all the money lost.
Here’s what our research has turned up about Gen X’s home shopping wish list:
- Most want a single-family home, single-story, 3 or 4 bedrooms, 2,315 square feet of living space or more.
- The top 3 features on the wish list include exterior lighting, a laundry room, and Energy Star® rated appliances.
- They crave extra storage space and room for a “relaxed” home office.
- They care more about the home’s features than the neighborhood.
If you list a home that fits this description, hold it open, at least virtually, and laser-target Gen X buyers because the chances are good that they’ll be visiting or viewing.
How to reach these buyer/sellers
Chances are good this cohort has a house to sell as well, so targeting them is a brilliant strategy.
Suggest that the homeowners create some obvious storage solutions in the garage and stage them just enough to show that they truly are storage solutions. In other words, don’t pack them full of stuff.
If clients are replacing any appliances, convince them to go with Energy Star® certified appliances.
When staging the home, ensure that your clients’ laundry room looks amazing. You’ll find brilliant tips at:
If the home would work as a multi-generational home, let buyers know that, upfront, in your listing description and other marketing materials. Gen X is the largest cohort seeking these homes and their numbers grow every year.
As the generation most likely to have children younger than 18 living in the home, Gen X also craves space for the youngins.
Which is why they’re the generation purchasing the largest and second most expensive homes.
Finally, if you sell real estate in the following cities (listed in order of popularity, most popular first), you’d be crazy not to target Gen X. These cities are getting the most searches from this generation, according to Lending Tree research:
- Memphis, Tennessee
- Jacksonville, Florida
- Atlanta, Georgia
- Washington, D.C
- Orlando Florida
Are you ready to target baby boomers? If so, create a targeted list of Boomers HERE, then launch a scheduled Empty Nest Campaign in just minutes.
Empty Nest Campaigns are currently on sale 10% OFF the first month. But ONLY for 3 MORE DAYS! (sale ends 5/29/21).
Empty Nest Scheduled Campaign (shown above). Learn more, HERE
TO LAUNCH AN EMPTY NEST CAMPAIGN:
Hit “CLICK HERE”, below, to get started on your Empty Nest Scheduled Campaign (from a desktop or laptop computer).
And, remember, YOU DON’T PAY for each mailing until it actually goes out (cancel or change each mailing up until the night before it goes out. The price shown at check out is per mailing, not campaign total).
Please reach out to our support team at 866.405.3638 with questions or if there is anything we can do to help you with your success.
PLUS: When you have time…here are some helpful resources we’ve made available to support your success.
1. The Free 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free Interactive Real Estate Business Plan
The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here
3. Become a Neighborhood Brand
Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.
4. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
5. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
6. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
7. The Free Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here