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10,000 Boomers Reach Retirement Age Every Single Day! Can You Spell "Opportunity?"

Baby BoomerHigh School Class of 1968.  If you're a Boomer like me, that doesn't seem all that long ago.  And we're reaching the age of 65 at the rate of 10,000 per day, according to PEW Research.  That's going to continue for the next 19 years!

High Opportunity
While many agents and loan officers bemoan the current long-lived housing downturn, others of us are taking advantage of a promotable competitive edge with this demographic group, creating a powerful marketing message, and reaping the benefits.

Low Competition
"But everybody knows this," you say, "Isn't there a lot of competition for this age group?"  Surprisingly, the answer is a resounding NO!  And that's the reason you might want to focus on this segment of the market.

Try this:  do a Google keyword search for "baby boomers."  At the moment, only three global searches rank "high" in the Competition column.  These are

(1) baby boomer dating,

(2) baby boomer dating sites, and

(3) advertising to baby boomers.

 

This surprised me.  I'm a Boomer, and we Boomers like to do research.  A little more digging led me to two conclusions that may be useful for you as you evaluate this niche of the current real estate market.

Younger agents would prefer not to deal with us for a number of reasons.  Here's why:

  • We like to have someone pick up the phone when we call them.
  • We don't like voicemail.
  • We get ticked off when people don't return our calls. 
  • We're not addicted to texting.
  • We're opinionated, and that can be intimidating to some agents and loan officers.
  • We're not big on social media.

Boomers like to do business with other Boomers

  • We tend to trust people of our own generation to do what they say they'll do.  That trust doesn't generally extend to our kids' generation.
  • We share the same historical context. 
  • We use the same contextual language.  Words change meaning from generation to generation, and it's easier to converse with someone who "speaks my language."

Does this mean that younger agents cannot be successful with Boomers as a target market?  Not at all.  You can be very successful if you'll take those bullet points (above) to heart. 

Don't text me.  Call me.

Don't put me into voicemail if you can help it.  Pick up the phone.

Don't expect me to respond to your "message" on facebook just because I have an account.  I probably log on once a week or so...

...and loan officers...please don't take me for granted.

There's a world of opportunity out there, my friends.  Grab it by the horns!

 

_____________________

 I'm Mike in Tucson, your preferred Tucson Arizona Mortgage Lender

 NMLS #223495

 SUNSTREET MORTGAGE LLC ~ Correspondent Mortgage Bank
Offices in Mesa, Tucson, Sierra Vista & Nogales

usdaruralhomeloans.com

Comment balloon 39 commentsMike Jones • April 18 2012 01:59PM

Comments

OMG - Mike, you are SO FUNNY and I love all of your points.  I wonder how the younger generation, who've gotten so used to "non-personal" communication methods of texting and voice mailing are ever gonna "get it" in real life?  It's so easy to hide behind the keyboard or smart phone - it's pretty anonymous.  What happened to just talking? 

PS - talk to you soon, LOL.  

Posted by Juli Vosmik, Scottsdale/Cave Creek, AZ real estate 480-710-0739 (Dominion Fine Properties) almost 7 years ago

Great post and so right on all points - I hate to cut you out but most of the boomers I deal with are paying cash.

Have A Great Day

Posted by Doris Freeman, Broker/Agent, Realtor, Madison-Gibson-Crockett (RE/MAX REALTY SOURCE) almost 7 years ago

This is a great post and a good reminder that the boomers are on the move.  It is a good idea to remember how the boomers operate and communicate.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 7 years ago

Mike

The Baby Bloomers are and will be a big part of the real estate market for years to come, and your right on target and create a big business opportunity.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 7 years ago

Great post Mike......and your right we baby boomers have the edge.  We can talk the talk with our peers and we are smart enough and willing to work hard enough to understand the younger generation.

Posted by Paula McDonald, Magnolia Realty ~ Granbury, TX 936-203-0279 (Magnolia Realty ~ Granbury) almost 7 years ago

Mike - I know what you mean. Thankfully I have no problems with any method of communication.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) almost 7 years ago

Great post.  It is important to communicate the way the other party is used to.  We just need to be aware enough to flex to what our customers want and how they want to communicate.

Posted by Jennifer Chiongbian, Real Estate Broker - NYC (Specializing in all types of Manhattan apts & townhouses) almost 7 years ago

Very funny but totally true blog!  However, I have equal amount of "baby boomer" buyers who prefer I text them for one reason or other! Phone call? What is that?  Problem with texting to me is it has to be short and sweet!  What if you really want to have a conversation?  I always ask when I meet someone what form of communication they would like to use.

Posted by Barbara Bartell-Kamp, Westchester County NY Rentals, Condos, Coops, Home (Keller Williams NY Realty) almost 7 years ago

As agents we have to adapt to our clients' and customers' needs. I can understand both sides since being an agent. Thanks for your post today,

Posted by Pamela Seley, Residential Real Estate Agent serving SW RivCo CA (West Coast Realty Division) almost 7 years ago

All very good points, Mike, that resonate to my ears.  Of course, I am a baby boomer!  Congrats on the feature!

Posted by Elyse Berman, PA, Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR (Best Connections Realty, Inc.) almost 7 years ago

Mike, terrific post and very well written. I too am a boomer and prefer the phone. :)

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 7 years ago

Mike, 10,000 a day? That's astounding! I am a boomer also but I admit I trend down to the younger generation in some things. I LOVE texting but there is a definite time for the phone as well. I also like Social Media - been here for 4 years :)

Sharon

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) almost 7 years ago

Great post about Baby Boomers, Mike! Love the article on PEW.

Posted by Maria Morton, Kansas City Real Estate 816-560-3758 (Chartwell Kansas City Realty) almost 7 years ago

Mike -- 10K a day for 19 years is an astounding figure. I actually had someone tell me they were looking for someone like me to work with instead of a 'younger' person. haha  I am not sure what 'someone like me' translated to in age, but I made the cut.

Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (RealtyQuest/Kinard Realty Group, Fairfield and New Haven County CT Real Estate) almost 7 years ago

Mike, I like doing business with boomers as well as younger generation. Must say it's a great observation. This will also help changing market - for better.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) almost 7 years ago

Trust, integrity, our word, and following through on what we say are all important as is doing business on a personal level - as opposed to electronic media

Posted by Brett Cairns: RE/MAX Ocean Pacific Realty, 282 Anderton Rd, Comox, BC V9M 1Y2 (250) 898-3348 (Comox Valley real estate services) almost 7 years ago

wow what a number to know.. that and over 12750 homes sell every day on average! great info to pass on to buyers and sellers!

Posted by Mark Loewenberg, KW 561-214-0370 (KW of the Palm Beaches) almost 7 years ago

What a fun post Mike!  It pushed me into getting serious about a boomer marketing plan sort of percolating in my aging brain for a few months.  Ours has always been a powerful demographic and nothing about that has changed! 

Posted by Marge Piwowarski, Phoenix AZ Horse Property, LLC (Phoenix AZ Horse Property) almost 7 years ago

One other small requirement that many baby boomers desire: Don't send me to your website to get prequalified. I want to talk with you or see the whites of your eyes as I provide you with my confidential information.

 

Posted by Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty, Sun City Grand in Surprise Arizona (Leolinda Realty) almost 7 years ago

Mike, as the baby boomers age I can see a huge niche market there. Guilty on all counts.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA almost 7 years ago

Some agents are all over this gold mine you so adequately described...mature people know what works and what they want...those in the service business key into it and success follows...good post thank you

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) almost 7 years ago

Mike - Boomers are the primary market for our development. I also speak their language. :)

Posted by Judy Jennings, Broker - The Lanterns at Warren Woods - Ashland MA (The Green Company) almost 7 years ago

Mike,

This is great!

Opportunity?

You bet!

Thanks for the post.

Posted by Kevin A. Guttman-Author, Reverse Mortgage Advisor, 877-251-9709 (NMLS#384936) almost 7 years ago

Mike- Great post I have been focusing on Down sizing Baby boomers seeking low maintenance golf living for the past few years and I love it.

Posted by John Marshall - FORE!, Specializing in Golf Course Properties (The K Company Realty) almost 7 years ago

Mike, all of your points are valid!  Boomers are a great opportunity.  There are even niches within the Boomer groups!

Posted by Sharon Parisi, Dallas Homes (United Real Estate Dallas ) almost 7 years ago

I agree about the huge opportunity. Thanks for posting today.

Posted by David Burrows, No Pressure, Just Seriously Devoted to Real Estate (Classic Realty) almost 7 years ago

Go Boomers! Very good points and reminder about opportunity abounding.

Posted by Doug Dawes, Your Personal Realtor® (Keller Williams Realty - Topsfield, MA) almost 7 years ago

There are many boomers looking to buy in active adult communities. Many people attend my open houses.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 7 years ago

Thanks for the advice Mike, amazing how accurate your research is. I feel like you were describing me personally.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams fox cities) almost 7 years ago

Mike - Thanks so much for your referal!  You are the BEST!

Posted by Eleanor Thorne, Equity Resources 919-649-5058 (Equity Resources) almost 7 years ago

HI Mike~

 

As usual, I totally agree with you...come to think of it...checkout "white hair baby boomers" on Google...and you may see just how much I agree with ya'!

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) almost 7 years ago

Boomer Sooner!  Boomer Sooner!  Boomer Sooner!  

HaHaHaha

AW.. really good points that you make. 

I do have some boomers though that live on the internet and text better than I do..  Wait!  I"m a boomer!  Does that mean that I can stop with all the techy stuff??  

:) 

Loved the post Mike. 

Posted by 1 ~Judi & Don Barrett & Chassy Eastep - Integrity, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) almost 7 years ago

I'm working with two sets of Clients right now; both Boomers! And both found me via my new WordPress web site and blog.

Posted by Jim Frimmer, Realtor & CDPE, Mission Valley specialist (HomeSmart Realty West) almost 7 years ago

Mike - I just noticed that this is your most recent post yet it's almost a month old now. Hope all is well with you and yours.

Posted by Jim Frimmer, Realtor & CDPE, Mission Valley specialist (HomeSmart Realty West) almost 7 years ago

AND they love working with fellow Boomers! That is a win-win!!!! Great post, Mike!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) almost 7 years ago

Those are crazy statistics for baby boomers reaching 65!  I keep telling my teenagers about this but didn't have actual statistics until I read your post.  I tell my kids there will be room in the job force when the BB retire so get prepared!!!

Posted by Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula, Realty Works Temecula (Realty Works Temecula) over 6 years ago

nice number to give to us to throw around to our clientele.. you better buy soon or there will be 10000 possible prospects looking to buy it before you tomorrow!

Posted by Mark Loewenberg, KW 561-214-0370 (KW of the Palm Beaches) over 6 years ago

Mike, I am proud to be a baby boomer and graduated class of 69. My husband was class of 68 and they were a wilder bunch and very non-traditional. Are you in that category, too?

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 6 years ago

OK, you got me.  High School class of '67.  So, I'm in on this post 100%

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 6 years ago

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