Engaging Customers Across Generations
Real estate pros should prepare for the Silver Tsunami of retirees by adapting to generational needs and blending digital with traditional marketing.
NEW YORK — As the Silver Tsunami of retiring baby boomers continues to sweep the nation, savvy real estate professionals should be readying themselves for opportunities that come with the shift.
In 2024, more Americans than ever turn 65 – a trend that will continue through 2027. Economists have labeled the shift the Silver Tsunami for the large number of people entering retirement age and the massive wealth they bring with them.
One key factor to addressing the shift in real estate is to understand the mindsets, motivations and distinct preferences of buyers and sellers in different generations. Some tips for engaging with clients from across the generations include:
- Tap existing professional networks that can provide insight into customer’s needs and desire. Agents must remember they are not only there to provide real estate transaction services but also advise prospective buyers and sellers about the market and the home buying process.
- Agents should be attentive, flexible and available. Act as a resource, which means using active listening skills to determine what the customer wants.
- Demonstrate value by sharing information about market trends, local information and how home buying can be a way to transfer wealth. Best practices should be used when communicating with all clients, no matter what generation they are. Not all Generation Z adults prefer text communications, and not all baby boomers prefer phone calls.
- Reach new clients with a mix of digital and traditional marketing methods, including social media, postcards and newspaper and magazine ads.
- Engage in the community by creating, hosting or attending local events. Customer service should be a top priority in all real estate relationships.
Source: Inman (02/07/25) Castellano, Katelyn
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