How to Connect with Baby Boomer Clients

Connecting with Baby Boomer Real Estate ClientsThis year, about nine million Canadian Boomers will turn 65 and in the United States, 10,000 people will turn 65 every day for the next 20 years. Baby Boomers (born between 1946 and 1964) are not the same as the older people of any previous generation. They are completely recasting traditional concepts of aging in everything that they do, including the way they live, and buy and sell real estate.

Boomers are experienced in real estate and as they move into retirement they will continue to invest in properties. As a real estate agent capitalizing on this market, it’s worthwhile getting to know what Boomers want and how they like to be served.

Understand their investment needs. Boomers don’t want to retire in the traditional sense, and for many of them, they can’t afford to. Even though they account for the majority of consumer wealth and almost half of consumer spending, many Boomers have huge expenses. They will look for ways to keep an income and pursue investments. You can also expect a lot of scaling down from multi-storey homes to condos and bungalows.

Welcome their participation in the client-agent relationship. Boomers know real estate. In their life time, they are likely to have bought a couple of homes, flipped houses, and bought investment property. They are an audience that soaks up information and will seek it from you and other sources. They are also likely control the client-agent relationship. Don’t be overwhelmed by it. Instead, encourage their participation and you will earn their respect for it.

Create opportunities for dialogue. Give them lots of discussion time with you and others who are involved in the real estate decision-making and transaction process. Boomers prefer face-to-face contact and will appreciate high levels of service and being treated as important customers.

Be sensitive to their desire for independent living. A nursing home? Not if they can help it. Boomers will resist giving up their independence, instead wanting homes that are fitted with features that make living more comfortable and convenient for them, like having windows that can be opened automatically, low maintenance landscape, and minimal stairs.

Don’t refer to them as senior citizens! Unless they self-identify as a ‘senior’, avoid using terms and words that conjure images of  being old, especially as Boomers are pushing against labels that depict them as passive or incapable. They are not going to let their chronological age set limits on what their expectations.

As a real estate agent, you will reap tremendous benefits if you can meet this group of potential clients with the high level of service they expect. Imagine all their Boomer friends they’ll refer you to!

How do you connect with Baby Boomer clients?

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