How to work with different generations of Buyers and Sellers
Different generations of Buyers and Sellers each have different wants and needs. What should you look out for, and how can you fulfill those wants and needs? With the spring housing rush right around the corner, here are a few tips and ideas to help you connect with your clients and successfully help them on their home ownership journey.
Younger Buyers and Sellers: Millennials and Gen Z
Younger Buyers make up the bulk of clients and prospects you’ll likely work with. While they’ll have some similar needs as your older clientele (e.g., mortgages, affordability, an agent they like to work with), younger Buyers do have unique wants, expectations, and obstacles.
What younger Buyers and Sellers want
- Younger Buyers and Sellers generally want more space. For first-time Buyers, lean toward showing them homes with open floor plans and customizable rooms that they can turn into offices, rec rooms, and gaming rooms.
- Move-in readiness is extremely important to younger homeowners. After all, if they’re likely to pay upward of $300,000 on average, they don’t want to have to put extra money into the house to make it what they want. Help Sellers show off their house by staging the home properly to accentuate its move-in readiness.
- Younger Buyers and Sellers want an authentic relationship with their agents. Make sure you’re constantly strengthening your relationship-building skills and communicating with younger clients the way they want, such as through texting and video. Additionally, consider offering your Buyers a home warranty from 2-10 Home Buyers Warranty (2-10 HBW). Providing a solution to common breakdowns to major systems and appliances shows that you’ll go the extra mile to protect your clients even after closing.
What younger Buyers and Sellers expect
- Younger Buyers and Sellers expect to have a say in the process. They’ll likely do lots of research prior to working with you. This means you’ll need to listen to what they know and educate them on things they need more information on without overwhelming them.
- Your younger clients will likely want to know your values and what you stand for. As you approach younger clients, balance how you talk about your expertise with talking about things you care about. Look to establish common ground between what you know and what you love.
Their obstacles and how you can help
- The biggest obstacle for many younger Buyers is affordability, thanks to low inventory and high demand. But younger Buyers are willing to move away from urban centers to find homes. Help them by understanding what’s important to them, and then showing them suburban areas that can fulfill those needs.
- Younger Buyers will have a ton of competition, especially from well-funded investors. You can help give them an edge by helping Buyers tell a story to Sellers.
Growing families (including pets)
Younger Buyers tend to look for homes as they look to grow their families. That applies in terms of both children and pets.
A good way to approach this desire is to find these clients homes near parks and schools. Fortunately, since younger Buyers (and Sellers) are willing to look beyond urban centers, you can confidently show them suburban options, which tend to be more pet- and kid-friendly.
Older Buyers and Sellers: Boomers and Gen X
Older Buyers and Sellers generally want to move in the opposite direction of younger Buyers and Sellers.
They may not need as much space in their homes. Additionally, they’re more likely to have more financial security than younger Buyers and Sellers, which can give them more options when searching for the perfect home.
Finally, for older Sellers especially, the process of selling their home can be emotional.
Empty nesters and retirees
In general, there are several things that empty nesters and retirees may look for when buying or selling their homes.
- Many older homeowners either want or need less space. This may mean that condominiums and single-level homes could be great fits for them.
- For some older clients, a sense of community will still be important to them. Make sure you know how important staying in the neighborhood—near neighbors and hobbies—is at the beginning of the process.
- Retirees may want a home that requires little maintenance or a home that includes maintenance help. If they have no interest in retirement communities, a home warranty can provide maintenance help when major systems and appliances break down from routine wear and tear.
A home warranty from 2-10 HBW can always bridge generational gaps
Though different generations may have different expectations, a home warranty can speak to the needs of all. Whether your clients are new to the housing hunt or have bought and sold before, a home warranty can protect them against the unexpected.
In addition to our complimentary Seller coverage, 2-10 HBW offers agents the opportunity to build trust and goodwill (and increase the likelihood of referrals) with Buyers. Our home warranty has the most comprehensive HVAC coverage on the market, which gives your clients peace of mind when they need it most.
2-10 HBW offers comprehensive systems and appliances home warranties to help protect your clients from unexpected repair and replacement costs. Contact us to learn more.