TIPS TO SERVE THE 55+ MARKET at Cresswind CHERYL CRAWFORD, SRES - PowerPoint PPT Presentation

TIPS TO SERVE THE 55+ MARKET at Cresswind CHERYL CRAWFORD, SRES

Tips to Serve the 55+ Market

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Three 55+ Living Generations Tips to Serve the 55+ Market G.I. Generation – Age 92 & up 1901 - 1926 Silent Generation – Age 73 - 91 1927 - 1945 Baby Boomers – Age 54 - 72 1946 - 1964

CURRENTLY 40.95% of the Population IS 55+!  G.I. Generation – 1.88%  Silent Generation – 12.97%  Baby Boomers – 26.10%

What does this information mean to a real estate professional?

Knowing Your Market • DISTINGUISH THE GENERATIONS & Differences • EVENTS THAT SHAPED THE WAY • FACTORS THAT INFLUENCE BUYERS • REAL ESTATE NEEDS OF EACH GENERATION • FINANCIAL CONSIDERATIONS • CHANGING AS AGENT TO WORK EFFECTIVELY 1

First Meeting Know Your Market! Step 1 Anticipate concerns Step 2 Build Rapport Step 3 Be empathetic Step 4 Explain agency Challenges Step 5 Establish your meeting objective Step 6 Perform a needs analysis

Challenges Going IN Digital vs Paper Buyers & Sellers

Considerations Going IN Buyers • Emotional • Possible physical impairment • Family business • Grief

Considerations Going IN Sellers • Possessions • Endowment Effect • Preparing the home for sell

Knowing Your Market Knowing The G.I. Generation What events shaped Age 93 & Up this generation? WWI Great Depression WWII Pearl Harbor

What are their The housing needs? G.I. Generation 93 & up Multigenerational?

The G.I. Generation Working with them as agent: 93 & Up Don’t want to downsize Risk averse Parting with possessions

The Silent Generation 1925 – 1945 Age 73 - 91 What events shaped this generation? WWI Great Depression “ Children Seen Not Heard” Heard”

The Silent Generation Age 73 - 91 What are their housing needs? Ease of living Recreation Educational opportunities

The Silent Generation Age 73 - 91 Working with them as agent: Savvy Lots of questions Formal

The Baby Boomers Age 54 - 72 What eve vent nts shaped this generation? Vietnam War Cold War Space Race Civil Rights

The Baby Boomers Age 54 - 72 What are their housing needs? Upscale Home office First floor masters Recreation

The Baby Boomers Age 54 - 72 Wor orking king wi with h the hem as as ag agen ent: Education High service One-stop shopping

The Baby Boomers Age 54 - 72 How did the recession change the outlook of Boomers?

CONCLUSION  .  Generational differences affect behavior  .  Different housing needs  .  Housing options  .  Financial information Financial information  .  Presentations Presentations  .  Resources Resources