The following information is provided by the Center for REALTOR® Development (CRD).
The 50+ real estate market is changing rapidly. Within this massive group of potential clients, there are distinct and growing sub-markets with vastly different needs and preferences. In these next few years, Generation X will be joining the boomers and matures, making serving the 50+ market even more of a challenging (and rewarding) puzzle for real estate professionals to solve.
For the mature buyers—those born between the years 1927 and 1945—the decision to move can be an emotional and complicated process. The sense of obligation to the family home may be a burden and a comfort at the same time. Real estate professionals must understand the unique factors that affect the mature homebuyer’s decision, and offer guidance and support throughout the transaction.
Baby boomers are savvy homebuyers. They approach the transaction with high expectations and confidence. They consider the home a reflection of their lifestyle, so image and status are important. Whether they are downsizing, upsizing, or purchasing a second home, vacation home, or investment property, they know what they want and how to tell you about it.
Newbies to the 50+ group, Generation X stands out because of their strong need for independence and practical yet cautious approach. They take on the responsibility of gathering information and rely strongly on facts and documentation. They ask a lot of questions and don’t want to get burned. They expect their home to complement their lifestyle and not the other way around.
All month, we’ll be bringing you articles to expand your understanding of this multifaceted market segment.
For success with the 50+ market, it will continue to be critical to have an evolving understanding of who they are and what they need. This entire month of September, the featured 25% OFF course at the Center for REALTOR® Development is the Seniors Real Estate Specialist (SRES®) Designation course, which is the basic requirement toward obtaining the SRES® Designation.
For more information, please visit onlinelearning.realtor.
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