How To Make 2014 Boom With Boomers And Boomerangs
The old marketing maxim says: If you aim for everyone, you won’t hit anyone.
It makes sense because of the avalanche of marketing messages consumers endure daily. So your marketing “arrow” has to have a sharp tip — one that sticks when it’s shot. It has to pierce through the clutter and speak to specific prospects.
A couple of groups you might consider targeting in 2014 are Baby Boomers and “boomerangs,” the folks who lost a home to foreclosure but are now back in the market and ready to buy again.
Peruse your market to identify the service gaps for either target. What do these groups need that they’re not getting from other Realtors? Figure that out and fill the niche and you’ll be sitting pretty for 2014 and beyond.
First, Baby Boomers. Yes, we all know they’re retiring and looking for housing that fits their needs. But now may be the time to focus on this group. CoreLogic just reported housing prices shot up again at the end of 2013 (more money for Boomers who sell), and The National Association of Home Builders has reported that builder confidence (read optimism) keeps growing around the 55+ housing market. In fact, this market represented the highest third-quarter 2013 number since the inception of the NAHB’s 55+ Housing Market Index.
Tips to target Baby Boomers:
1. Educate yourself on their physiological and psychological states. In other words, know your customer. Take time to understand the boat they’re in. Why do they want to sell and what do they want in their new home?
2. Make listing presentations more human and less techie. These people appreciate old-fashioned common sense and communication over gadgetry. And know your numbers and facts; they’ve been around the block and know what’s what. Plus, get to the point fast. They value time and they typically make up their minds quickly.
3. Make your ads and marketing materials boomer-friendly with larger type sizes. Use at least 12 point, simple type styles and clean contrasts – black and white is best.
4. Consider getting the designation for seniors (SRES). It covers a lot of details on how to communicate with them effectively.
Second, the boomerangs. Analysts say nearly 80 percent of those who lost their homes during the economic crisis are interested in buying again. Of those, 41 percent report that their income is higher than when they first purchased, and 63 percent say their other debt obligations are lower, says a LoanSafe. org survey.
Tips to target boomerangs:
1. Again, educate yourself about boomerangs. Why do they want to return to homeownership? Focus on the benefits and reinforce their decision to buy again.
2. Refocus your ads. Be sure to sharpen your “ad arrows” by speaking directly to boomerangs. Use your ads to talk specifically to this group and give them reasons they can relate to for choosing you as their real estate expert.
3. Consider a seminar for boomerangs. Create a free, one-hour workshop specifically for boomerangs and hammer home the benefits they’ll get by attending, such as learning how to buy before interest rates rise, how to qualify for loans and what programs can help them specifically.
Let me hear from you. What do these two markets look like in your city? Is there room to grow with Boomers and boomerangs? What specific plans can you start making today that will help you capture those markets for 2014? Are there any hurdles you need to overcome? What are they? What can you do today to start overcoming those hurdles?
Bubba Mills is chief operating officer and managing partner of Corcoran Consulting Inc. (800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential broker or agent’s existing practice.http://daily-blogger.com/how-to-make-2014-boom-with-boomers-and-boomerangs/Today's Post2014 real estate market,Bubba Mills,Corcoran Consulting,home foreclosure,home sales,real estate advice,real estate marketing,real estate selling tips,Realtor,residential broker