There is a lot of financial talk surrounding residential real estate. You hear terms like investments, equity, buyer’s market, seller’s market, appreciation, and depreciation. It can be a lot to digest. But selling your home should be more than a financial decision. Your home is more like a bank for memories where you made some of the best in your life. But whether you’re downsizing or moving to fulfill a lifelong dream, the right Realtor can make all the difference. I’m Viktor Taushanov, Mister Frisco, and I want to teach you everything I can about selling your home. We begin by asking, who’s really in the marketplace?
Millennials
According to the latest study from the National Association of Realtors®, the 2022 Home Buyer and Seller Generational Trends report examines the similarities and differences between recent home buyers and sellers across generations. Millennials made up the largest share of home buyers at 43% – the largest segment of home buyers. Buyer data breaks down Millennial groups into Younger Millennials aged 23 – 31 years old and Older Millennials aged 32 – 41 years old. Within these groups, Older millennials make up 25% of home buyers, compared to 18% of Younger Millennials. Why is this important to know? Understanding and marketing to a buying segment increase your chances of successfully selling your home.
If you imagine Millennial buyers doing everything online and forgoing a Realtor altogether, think again. Although young, college-educated, Millennials use tech in the home-buying process, they are also the most likely segment to enlist the help of an agent when buying and selling a home. So having a Realtor on your side puts you at a clear advantage.
Gen X
Although falling behind Millennials in overall purchases, Gen X made a strong showing in very attractive buying behaviors. Also, according to the report, Gen X (aged 42 – 57) enjoyed the highest incomes, including married-couple dual incomes. More income translates into apparent price immunity because Gen X bought the most expensive and second-largest homes. Bucking the trend of downsizing for new empty-nesters, Gen X made a strong showing of buying multi-generational homes.
Boomers & The Silent Generation
There’s an undeniable trend among buyers from the Boomer and Silent Generation. For diplomacy, let’s say anyone over 57. Here, most home purchases were made primarily based on proximity to close family. Boomers and the Silent Generation also moved furthest and were more likely to downsize for the move.
How I Can Help
Transactionally, selling a home involves many familiar tools of finance. But buying a home is primarily an emotional purchase. Nobody spends their final days talking about their home equity. They talk about where the kid’s swing set was, the block parties, and all the family holidays. My job is to educate you, the seller, about market conditions. I also work hard to increase the perception of value in your home for potential buyers. I also work hard to negotiate your sale to give you the best return on your investment in dollars and satisfaction. That’s my job as a Realtor.
Understanding who’s really in the marketplace is the first step to achieving the greatest financial and personal satisfaction in selling your home. I’m Viktor Taushanov, Mister Frisco. Let me show you how.
