Canadian Baby Boomers make up about 29% of the population, while about 36% of the U.S. population is over 55. There are about 75 million Baby Boomers about to retire.
According to the Bipartisan Policy Center, Baby Boomers own 26 million homes. That’s about half of all owner-occupied homes in the United States.
This group, which is currently 54 to 72 years old, is the second-largest group of sellers after Generation X.
While many may be willing to sell their homes, Baby Boomers have different habits, motivations, and priorities than other seller groups.
While the motivation to sell may be high among senior leads, there are many that will need to be convinced to downsize.
Here are a few objections you should anticipate:
“I don’t want to deal with the stress of moving.”
The thought of having to sort through all of the keepsakes and knick-knacks a family collects over the years can be daunting. Just the thought of packing everything up and moving it out of the house can make potential sellers postpone selling.
Once you have your leads in hand, you can take two approaches: Calling or going door to door.
We recommend going door to door. This way, you’re able to make a better first impression and interact with your leads.
It’s important when you approach these leads that you don’t tell them you’re approaching them because they’re over 60. That’ll land you a one-way ticket to a door slam in the face.
Rather, tell them you’re going door to door in the neighborhood, simply seeing if anyone has any real estate needs.
If homeowners express interest in selling, take down their information and follow up with them in a few days.
If they don’t want to sell, don’t count them out! There’s still a good chance you can show them the benefits of selling and they’ll change their minds.
Unlike most leads, where you’d simply ask if they’re thinking about selling their home, with these leads, you have a great opportunity to convince them they should.
Start out by telling them how much you think they could get for their home.
“Ma’am, did you know that your home is worth $x? I don’t know if you were looking to downsize or move closer to family, but now is an ideal time to get a return on your investment.”
It’s important to approach these people sensitively. It’s likely that their homes hold a lot of sentimental value — they likely raised children in this home and made countless memories inside its walls.
Baby Boomers have very high expectations when they partake in any business interactions. They expect highly customized, personalized and on-demand service.
While the real estate industry has completely transformed in the last few years — according to the National Association of Realtors®, in 2018, 51% of home sales started online — many of these leads prefer a more traditional approach to buying and selling real estate.
Your books are an ideal tool to reach a generation of people who didn’t necessarily grow up in the digital age.
Books hold an inherent value, and published authors hold a certain esteem in the industry they represent.
This is the number one thing you need to do to dramatically boost your listing presentation conversion. It’s not that complicated. But, hardly anyone ever does this.
When you give these sellers a book with your name and picture on the front, they aren’t likely to throw it away. Whether they look at it right away or come back to it when you follow up, you’ve already established a strong impression in their minds.