
In today’s digital era, the purpose of real estate professionals remains more critical than ever. That’s why during this National Homeownership Month, we’re talking about how our Realtor friends can best serve both buyers and sellers of different generations by diving into the National Association of REALTORS generational trends report from earlier this year.
Despite the convenience of online listings and virtual tours, the expertise and personal touch offered by skilled agents can’t be replicated by tech alone. We all know real estate agents play a vital role across all generations, adapting their services to meet the diverse needs of buyers ranging from tech-savvy Gen-Zers and millennials to those with more traditional desires for the customer experience. Here’s a further generational breakdown.
Millennials and Younger Buyers: Today’s younger homebuyers start their home search online, often browsing listings on their phones and using apps to compare market prices. However, when it comes to making purchasing decisions, millennials and Gen Z buyers want guidance from experienced real estate professionals. You need to help younger buyers understand the nuances of negotiations, mortgages, and legal paperwork. Don’t forget to talk about future home equity and how a home is also a sound investment. Remember, Birthright Title is always here to answer any title and closing questions for your clients.
Gen X: These buyers often possess more real estate experience, having typically owned homes before. However, they continue to value the deep market knowledge and negotiation skills of seasoned agents, especially when considering significant life transitions such as upgrading to accommodate a growing family or downsizing for retirement. For Gen Xers looking to purchase a ‘forever home’ or expand their investment portfolio, real estate professionals provide invaluable insights into market trends and help evaluate the potential long-term returns on different properties.
Baby Boomers: For baby boomers, agents play a crucial role in navigating the sale of their existing homes and finding new properties that better suit their changing needs. These needs may include accessibility features and proximity to healthcare facilities. It’s important to recognize the significant influence of the baby boomer generation in the market right now, too.
When dealing with this group – and those older – be sure to empathize with the challenges faced by older adults in the housing market. Agents should be adept at identifying properties that meet specific needs, such as minimal stairs, maintenance-free living and close proximity to essential services like medical care and community centers.
All month long, our Realtor friends should be celebrating that they guide all kinds of buyers through one of the most significant financial decisions of their lives. It’s hard work to ensure all parties involved navigate the complexities of the market with confidence and clarity, and we hope this piece has gotten you to think about how you can best cater to your buyers and sellers of every age.
To all the potential buyers and sellers out there, hiring an agent to be on your side could be the key to a smooth and wonderful experience. (It’s why 89% of recent buyers and sellers say they hired an agent and why most would recommend that professional to their family and friends.) As always, Birthright Title thanks you for choosing us as the beginning of your “home sweet home.” Contact us anytime!