Newsroom

February, 25 2019

Marketing TOD: The Baby Boomer Edition

Baby Boomer real estate leads aren’t what you might think.  Keep the following in mind if you want to win their trust  

 

They aren’t old

 

Baby Boomers, born from 1946 to 1964, won’t tell you that they don’t consider themselves old or elderly or even senior citizens, but they will either laugh at you or choose another agent if treated as such. 

This generation is active, vibrant and much healthier than the previous generation – the one on which the current stereotypes are based. 

 

They’re good at referrals

 

As of last year, the Census Bureau estimates that there are 65.2 million American-born baby boomers. Add in immigrant boomers and that number rises to 76.4 million. According to a study by ThirdAge and JWT Boom, a whopping 96 percent of these people (73 million) participate in word-of-mouth marketing. 

What this means for the real estate agent is that a boomer client who is happy with the service he or she receives is highly likely to pass on your information to friends, colleagues and family members. 

 

They Expect Excellent Customer Service

 

“I think a big mistake that many marketers make is assuming that all boomers are hippies,” Lisa Magerl, SVP, director of client services, at RTC Relationship Marketing tells Direct Marketing News’ Nathan Golia. “Boomers have very high expectations with their interactions with businesses. They expect a high degree of customization, personalization and on-demand service,” she concludes. Whether this is true of all Boomers or most of them isn’t explained. But the nugget of knowledge provided is invaluable when working with your older clients. 

 

“Right now, the housing recovery has been fueled by baby boomers with good credit and lots of equity,”  

 

NOTE: Baby Boomers are not afraid of using technology if it makes the process easier – they just want to be knowledgeable and know that their funds are secure and transaction will be handled correctly! Agents, talk to them about how the transaction will be handled AHEAD OF TIME and provide them with materials to know how it will benefit them.