The term baby boomer refers to the generation born after WWII, specifically between 1946 and 1964. According to research, there are almost 17 million baby boomers who are hitting retirement this year. Because of their need for new properties in preparation of old age, baby boomers have become a significant part of the real estate demographic here in the Philippines.
However, baby boomers are still hesitant in buying new properties because of their age and problems with mortgage. Most of them just want to pay off every loan that they have made and just move on.
If you’re a real estate agent looking to target baby boomers, then don’t fret. There are still ways in which you can make a big sale in this niche market. Just follow the advice below and we are sure that you are going to help a baby boomer find a new home.
1. Help them downsize
One of the worries of the baby boomer generation is that they may face retirement with a house that’s too big for them and too hard to maintain. What baby boomers want are stability and to live frugally. With that dilemma in mind, offer baby boomers smaller and more intimate properties. Show them photos of charming bungalows or a small yet functional apartment. In that way, they will know that they have the option to downsize anytime they want.
2. Offer a good location
What a baby boomer looks for in a property is the convenience that it can offer. They no longer want a property that’s too far off from town and other places that they might need like hospital, malls, etc. They also want a walkable neighborhood where they can spend mornings doing their morning runs and late afternoon strolls. Baby boomers also want a property where they are in vicinity to their loved ones.
3. Reassurance is key
Most baby boomers crave change. What they want is a breath of fresh air and a new scenery for the new phase in their lives. They’re only hesitant to take a step because moving in to a new home can get a bit stressful. What brokers can do is to reassure them that buying a new property is what’s truly best for them and that they are not making a wrong decision.
4. Untie those emotional ties
Baby boomer clients can’t leave their original homes because of the emotional ties that they feel for it. They have done everything in that house – they raised children, made memories, and achieved new milestones. Try to convince them that even though that the memories in that house are precious, they can still make new ones in the house that you are offering.
5. Get the children’s help
Baby boomers also listen to the opinions of their children. Let your clients bring their children during the house tour so that they could all see that the house that you’re offering is great and will truly help your baby boomer client. Impress not only the buyers but also their children and you’ll surely have a good deal awaiting for you.
Remember to always listen to the wants and needs of the client in order for you to pinpoint the perfect property to sell to them. List your home at our portal so that your target baby boomers can easily see you.
