Homebuyer and seller
The truth is, we live in a post-consumer society. We’re not defined by our age, gender, race, marital status, education, location, income or family status. Our interests, attitudes, and opinions unite us. The things you and I care about are changing. Demographics as we understand them are changing! So then how does a real estate professional appeal to the homebuyer and seller?
In real estate, when it comes to the homebuyer and seller they are our demographic group. We need to understand how to segment individuals. Because where we live and the communities we need at all ages, can’t be measured in psychographics. Single Millennials (18-34) really need to be in a quiet suburban community? (85% of Millennials enjoy the freedom of city life and 87% feel living in a city expands their view of the world.) And older Boomers (55-68) and Silents (69-80) aren’t necessarily geared for the intensity of inner city living. Finally, Gen X (35-54) splits the difference between city, suburban and county living. Exceptions notwithstanding.
Knowing your client
Real estate acknowledges the demographic behavior of any home buyer and seller. The tendencies of a group. Knowing your client, their desires and habits is an important criteria to help you find the right listing or sell a property to the right target. Understanding a client’s demographic make-up is great information to start with. Regardless if you are a buyer, a seller, or a real estate agent.
Ironically, studies reveal that in general, the attitude of a buyer or seller is the behavioral motivation driving a sale. Attitude is quantified as important as location, living space, referrals and peer influence.
What’s important is, regardless of demographic, buying or selling a property is a significant investment. Maybe the largest investment you will make in your lives.
Raise the Bar offers classes that teach aspiring real estate agents everything they need to know to get licensed.