Which population group is most active in today’s luxury market?
Is it baby boomer? Parents of baby boomers? Millennials?
That’s exactly what Brian Loebker, real estate professional from Sarasota, Florida, and I investigated during our interview.
For most of my career, all of my customers were older than me. And I’ve always tried to bridge that gap between generations and layers of wealth and age. However, I cannot go into the moment when it happened, but at some point in the not too distant past, all of my customers became younger than me.
Emotion vs. Data
When it came to boomers like me, it was largely attractive to target this population emotionally, So I kept emphasizing the idea of memories, reconnection and family-oriented activities when selling luxury real estate.
In contrast, the younger generation is all about data points. They are metric and a lot less emotional when it comes to buying and selling a home.
While the younger generation sees luxury real estate as the purchase price, boomers buy expensive houses as a reward for a well-lived life – a life that is characterized by hard work, sacrifice and success. Click to tweet
It is important to take these trends into account when negotiating and selling to these populations.
Have a great week until next time.
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