If you are serious about taking your real estate business to the next level, you’d better be paying attention to the trends in this business. Those investors that do are always way ahead of the curve. They always seem to be the first ones at the party while everyone else is still trying to figure out where the party is.
Looking in the Right Direction; Follow the Money
The way you figure out where the party is, is to follow the money. So ask yourself this; what is one of the biggest trends and one of the most underserved niches in real estate? That would be baby boomers. When was the last time you thought about this segment of folks when you were deciding looking closely at the direction of your business? I’m guessing these folks have never crossed your mind. But I’m going to give you some reasons you should definitely care.
Here Are 77 Million Reasons
It is estimated that there are approximately 77 million people that fall into this generation called “baby boomers”. These are the folks that were born roughly between 1946 and 1964, and they are the fasting growing segment of the population. Met Life Insurance estimates that they have spending power of at least 2 trillion dollars. This particular group of people owns more real estate than any other single demographic, and they are moving into retirement in huge numbers. It is estimated that 8 out of 10 baby boomers own their home, and many of them have one or more other properties such as a vacation home or investment property.
Now those are some pretty impressive numbers! The question is how do we tap into this potential huge source of business?
What Do They Want and Need?
Understanding what they want and need is crucial, and that depends on their …read more