Writing off baby boomers as downsized technophobes could cost you a lot of real estate business
Boomers. Remember them? Sang with the Mickey Mouse Club. Screamed for Beatlemania. Inhaled flower power at Woodstock. Danced disco. Turned Yuppie. Made piles of money, raised families, and retired. Now they’re downsized and fading away. Thanks for all the real estate deals. Next generation please!
Only, that’s not the whole story—not by far. Spanning from 1946 to 1964, the Baby Boom generation totals almost 70 million Americans. Although the oldest are turning 75 and already a decade into retirement, the youngest are still immersed in the workforce with no plans of fading away any time soon.
Collectively, the Boomers own an astonishing amount of real estate—and are looking to buy more. As a Realtor®, you’ll be well positioned to win their business if you can get past the stereotypes, understand who they really are, and thoughtfully cater to their needs. Here are five things to know when working with Boomers.
Meet Generation Jones
These younger Boomers—those born from 1954 – 1964—are often seen as a different generation: Generation Jones*. Unlike their older siblings, they came of age in a shrinking economy with high unemployment and had to scramble to stay apace. Taking nothing for granted, they have been highly adaptable, constantly evolving in their jobs, learning new technologies, and even re-inventing themselves in entirely new careers.
*Jonesing. (verb) an unfulfilled yearning or need.
Boomers don’t do old. Unlike earlier generations that proudly embraced stodginess, many boomers still lead active, vital lives where they do everything from taking up yoga to exploring the recesses of social media.
They’re not downsizing
Whether they’re remarrying and starting a second family, opening their doors to adult kids returning to the nest, or bringing an older parent home to live with them, many Boomers in their 50s and 60s are looking to purchase bigger homes that accommodate multigenerational living.
Selling their parents homes
Younger boomers are often caught in the sandwich years: actively raising a family while trying to care for older parents. A lot of them take a lead role in helping their parents downsize from a larger home into a smaller one.
Tech Savvy and plugged in
They’ve got smartphones and know how to use them. They text, use apps, and surf the web for hours. Some of them are even on TikTok. So, don’t think you need to cater to them with paper forms and fountain pens. Even the oldest among them are becoming at home with electronic-signature software and forms.