Want to focus on a particular niche for your real estate business? Consider the baby boomer generation! Why, you ask? Well, there are many reasons why it’s a good idea for agents to spend time and money marketing to baby boomers. Their generation accounts for about fifty percent of discretionary spending, not to mention that baby boomers control a good majority of the wealth in the US. These are only a few reasons why you might want to narrow your niche to this generation.
If you don’t already know, baby boomers were born after World War II between 1946 and 1964. They are now generally in their fifties and sixties. Their age demographic owns the most homes in the country. And almost half of baby boomers have decided that they will buy another house in the next decade or so. A good majority of others in this generation don’t know if they buy another house or rent.
Many baby boomers are still working and plan on doing so for years to come. However, they may face the decision of staying in their homes and refinancing or selling and moving closer to family. Whichever option they choose, they will need real estate agents to help them with the process.
Make no mistake: People in this age group are not considered elderly by any means. They are healthy and are not frail at all. They want houses with pools that are close to running trails and parks. They want to be close to dining and entertainment. And baby boomers are tech-savvy, too, which means they want the latest in energy-efficient features and media centers.
So consider focusing your niche on baby boomers. They want the best in houses and condos, and they have plenty of spending power.