Lori Todd of Choice Realty & Management studies generational & behavioral impacts on real estate. Working with various buyers and sellers is more than just answering a call or sticking a sign in the yard. These tactics help improve customer service so put Choice Realty & Management to work for you!
Baby Boomers, born 1946-1964, is the largest generation group. They have 5 times higher divorce rate than previous two generations. They are currently trading up to their 2nd or 3rd home. They like stats to support value. They are thinking of a home with two master suites: a main one upstairs and one on the main level for the in-laws that will become the primary master bedroom as they age. They use internet but they prefer personal and direct communication with others.
Gen X, born 1965-1976, is the smallest generation group. More than half of this group already owns a home. More women than men in this group own a home. They have attitude, very independent and very confident. They want information electronically but look to experts for basic assistance. Friends and family are important to them so they’ll look for entertaining space.
Gen Y (Millennials), born 1977-2000, are similar sizing to the Baby Boomers and have a closer relationship with their parents. They are fun and use technology for everything. This group never lived without cell phones or used fax machines. They care about the world and they recycle.
They want information electronically. This group has advanced education with higher income potential. They are loyal and likely to purchase a home without being married but also want convenience and amenities.