Updated: Apr 13, 2020
. . . by targeting specific types of buyers.
As a realtor, builder, or investor, your main goal is to move properties efficiently. To do that, you need a strategy beyond uploading your MLS photos and hoping for the best. Whether you are selling a new home in the ideal suburban neighborhood or a flat in a bustling city, you need to align your listing with the type of buyer most likely to follow through on the sale.
Below are some helpful tips on how to position your listing for each of the three main markets.
The average baby boomer is likely a grandparent, retired, and also likely to be facing or preparing to face various health conditions that are unavoidable with age.
While ADA-compliant entrances, bathrooms, and kitchens are expected, the emotional side - which is also how all of humanity makes buying decisions - must also be addressed. Is the home close to grocery stores and clinics? Does the square footage allow for holiday guests and family reunions? Is the neighborhood safe, quiet, and serviced by medical transportation services?
A quick Google search can yield this information and more. Be sure to include these as benefits in your MLS listing, along with well-lit and comfortably styled photos that highlight the listings most leveraged features. Ask your home stager to style the space with the older generation in mind, from spacious walkways for walkers and wheelchairs to a feeling of warmth and comfort that would make them feel at home.
GENERATION X 1965-1976
As Generation X bridges the gap between the old world and a bold, new future, this demographic has specific needs when looking to purchase a home. People from this generation are often college-educated and may own more than one home simultaneously. They are often interested in homes that have close proximity to golf clubs, craft stores, and other hands on activities.
Because they are preparing for retirement, they might also be in the market for a more maintenance-free house. If your listing checks those boxes, make sure they know.
GENERATION Y 1977-1995
Generation Y, most commonly referred to as the Millennial Generation, has somewhat unjustly received a reputation for being entitled and lazy. However, a large portion of this generation is actively finding ways to work smarter rather than harder. As public attention shifts from labor-driven careers to those of innovation and technology, housing needs shift along with it.
Gen Y'ers are often scrolling their favorite real estate apps in search of listings under half a million dollars that still have great curb appeal. They also want live within a certain (and short) distance of their all-consuming career, preferably with a Starbucks along their early morning route and a Whole Foods around the corner for weekend grocery runs after spin class.
If your listing boasts these amenities nearby, be sure to reference them. Also, ask your home staging company to stage the home with the on-the-go, career professional in mind.