Since the beginning of time, it was believed that the best (and really only) time of year to sell your home was during the spring / early summer real estate market. That way of thinking has been popular because most homeowners were young families with school age children looking to buy a house and move in before school started in September. Today, young families are not the only people buying new homes. Many empty nesters and millennials have joined the real estate search, creating new opportunities for sellers as well as challenges to be aware of. To be successful in this new market, it is imperative that you appeal to buyers of every generation. If you know what to expect from these new types of home buyers, you can increase your chances of selling your home quickly throughout the year.
The Empty Nesters
Working with the typical empty nester requires a gentle touch. They are likely under some stress because they are trying to unload their current home and buy a new home at the same time. Downsizing into a new home that suits their needs, the stress of selling their home, and facing retirement is a lot to handle at one time. It is important that you are patient with these buyers, because if they feel rushed they will move on. They are methodical and take their time to make big decisions such as buying a house. These buyers need time to internalize their decisions. Retirement is a scary and uncertain time, so they need to feel that they are solid in the decision they make so they do not set themselves up for failure. This is why it is important to appeal to buyers of every generation. If you know where a person is coming from, you know how to approach them and increase your chances of selling your home.
Communicating with this buyer could be challenging. They more than likely do not have a smartphone so they do not have their email at their fingertips. Emails are probably only checked during work hours, which would be about the only time they spent time at the computer. Some empty nesters might not even have a cell phone they use regularly, which may make reaching them on the phone difficult. Their cell phone might have limited minutes and only be used during an emergency. Make sure you know the best way to communicate with the empty nest buyer and time of day to avoid frustration.
Millennials are connected at all times. The real estate market does not sleep for this buyer, and they will snag a deal any time of year. This is a great opportunity for buyers because most people were under the impression that if they listed their home during the winter there would not be any movement because no one was looking to buy that time of year. With the real estate search engine apps (such as Leighton Realty’s mobile site) at their fingertips, millennials are always searching for their perfect home. This makes it very easy to stay in touch with this buyer, as opposed to the empty nester. However, when you’re trying to appeal to buyers of every generation, you will run into quirks to every age group. This generation is no different.
Since Millennials are always connected, they might request a showing of your home at any time. Of course you have the right to refuse any unreasonable request, but you should be ready to show your home on little notice or you may lose their interest. Another challenge is to make sure that your house is visually appealing online. If a millennial gets a notification that a new property has just hit the market, and it doesn’t have any pictures attached, this can be very frustrating for them. The property has disappointed them, and they will move on to the next.
To avoid this from happening to your home, it is a good idea to invest in professional pictures. Millennials are incredibly visual, so the pictures of your home mean everything. When you sign with a realtor, it is a good idea to make sure that they have a professional photographer at their disposal to take the pictures of your home. Iphone pictures of your property will not snag the millennial shopper you want to buy your property. In general, this generation is unattached and looking to move quickly when they find a house or property they want to buy. They are impatient and know that there is plenty of inventory so they will move on if things are taking too long or your property is not visually appealing to them.
So How Do I Appeal to Buyers of Every Generation
It is tough to appeal to buyers of every generation, there is a lot to take into account. A seller wants to be gentle with the empty nester that is downsizing from their current home to prepare for retirement, which is a big life change. The seller wants to be patient with this buyer to make sure they do not put too much pressure on the buyer to scare them off. On the other hand, the seller needs to be conscious of the needs of a millennial buyer which is completely different from that of an empty nester. The empty nester might never see the pictures of your home online, whereas the millennial buyer will see your house based primarily on the pictures you posted online. To appeal to the millennial buyer, invest in a professional photographer to create the best images of your house. Without these pictures, you can forget about that type of buyer considering your home. Keep your home show-ready because the millennial buyer is fast moving, and could request a showing with very little notice. If you keep these two new type of buyers in mind when selling your home, you will also be more appealing to the conventional buyer as well. It is always a good idea to put your best foot forward with appealing pictures online of your home. It is also a very good idea to keep your home in show ready condition so that you are more available to buyers. For more great ideas on how to sell your home quick, check out our Home Selling System at Leighton Realty.