Selling to Multiple Generations: How to Adapt Your Real Estate Strategy to Transcend Generations

When it comes to the real estate market and sales, it is imperative to understand the unique preferences and needs of your clients, especially as it relates to generational trends. 

So how do you transcend these trends to be able to speak to all?

 
Do your research. Each generation has its own set of characteristics, buying habits, and interests. Understanding these differences allows your sales strategy to reach beyond the limits of generational gaps and maximize your sales opportunities. Here are my top tips to adapt and effectively sell to all generations—Baby Boomers, Millennials, and, let’s not forget the rising force of Gen Z—in the real estate market.

Understand the Unique Needs of Each Generation. 

It is crucial to understand the demographic and their preferences, and expectations. Baby Boomers, for example, are entering their empty-nester phase of life. They are looking to downsize, and for peace and quiet. Younger generations, like Millennials and Gen Z, however, are seeking trendy areas with a sense of community. It may seem like an obvious distinction, but recognizing these differences gives you a sales advantage and allows you to refine your approach to resonate with each generation.

Refine Your Reach.

There are stark differences in how and where generations communicate. And where generations focus their attention is an important piece of information to have—it impacts how you reach and engage with them! Where Baby Boomers may appreciate a handwritten note or communication through Facebook, Millennials and Gen Z will be more responsive to direct messages or advertisements on Instagram. By adapting your communication style to align with their preferences, you can effectively capture attention and drive sales.

Gen Z has Entered the Real Estate Market. 

Ignoring the potential of Gen Z in your sales strategy could mean missing out on a valuable market segment. A trend I am noticing is that Gen Z has entered the real estate market at a much younger age when compared to Millennials. As the older members of Gen Z enter adulthood, they bring with them a fresh perspective on investing and business. Unlimited access to information from the palm of their hand thanks to technology has influenced their buying savvy and habits. This, coupled with a cultural shift of not pursuing the “typical career path” has made this generation eager to invest in real estate.

How to Speak Millennial. 

Millennials have been through a lot. As a member of this generation, I can say this! We had the last “analog” childhood and have, basically, grown with technology, so we appreciate and value the convenience of having information at our fingertips via social media and the internet and use it readily. This is also the second recession and “housing crisis” we have lived through. We are pragmatic when it comes to home buying, but also appreciate trendier neighborhoods and design aesthetics. Similarly to Gen Z, reaching this audience via digital platforms resonates with this tech-savvy generation.  

Success in a diverse real estate market is dependent on speaking to multiple audiences and generations. By continuously observing and researching the preferences and adapting your sales strategies accordingly, you will effectively broaden your reach while staying current allowing for a steady flow of meaningful sales opportunities.