Boomer Generation Continues to Smash Expectations

We all know that many Savannah property searchers are looking for homes with more modern, high tech-compatible features. But something that is also interesting is evidence that the trend has broadened to include retirees who are in a downsizing, property-searching frame of mind.

From wireless availability to health monitoring systems, technology is one of the key hot buttons in the senior housing industry. "Many people are trading older houses for new [properties] that offer energy efficiency, great rooms, open floor plans,” according to Jane O'Connor, a specialist who studies trends in the 55-plus population. 

Although earlier studies found that most baby boomers preferred to stay in their current home as long as possible, those times are a-changin’. That attitude may have been typical for most of the last 50 or 60 years, but perhaps due to skyrocketing energy prices over the past few years, willingness to downsize and move is growing among retirement aged advocates.

Photo Courtesy of  www.123RF.com

As the publisher of Mature Living Choices magazine, O’Connor suggests other contributing reasons. “Boomers…were the first generation to question authority.  They changed everything they touched, from the creation of suburbs to mini-mansions.” Today’s retirees are also strong entrants into the virtual communities that the social networking explosion has created. They are using e-book readers, tablets, and other digital technology -- including online services like Skype and other video chat enablers. A decade ago, members of the senior sector were generally considered to be interested in (but in need of instruction regarding) the latest electronic communication devices. No longer. Especially given how particularly useful the new gizmos are for keeping in touch with children and relatives in other states, more tech-savvy seniors consider strong cable and internet access absolute necessities.

It seems like just yesterday when it was principally the 20-somethings who were wired. The senior population today can be nearly as high-tech as their offspring, and – when the time arrives to begin a Savannah area property search at the start of retirement - they expect to continue. It’s no wonder that assisted living facilities, retirement communities and nursing homes are also being required to have all the amenities of today’s connected world.

Whether you are one of the retiree generation setting out on your own property search, or a homeowner preparing to sell into this changing market, we’re here to assist in your plans. Give us a call anytime or begin your search at www.SavannahHomeSales.com

Psychology Helps Savannah Home Sales

When you choose the local real estate agent who will be your home-marketing partner, you are choosing someone who will need to fill many roles: marketer, stager, tour guide, negotiator.  And don’t leave out another role -- psychology major!   

 

To build our kind of successful track record, a real estate agent needs to study and understand the way prospective buyers think about their search for a future home, how they are likely to react to different forms of presentation, and what builds or detracts from the value they assign to your property. It’s psychology, all right -- and it’s usually an integral part of any sales or marketing success.

A good example of how psychology can affect a real estate transaction comes from a study done at the University of Texas. There they have a Real Estate Finance and Development Program. A couple of years back, they began conducting some psychological studies, and one of them used sophisticated statistical tools and a huge sample of real estate transactions.

What’s fascinating is what they discovered about using the word “new.” Real estate agents who marketed homes with phrases like “new paint,” “new carpets,” and “new roof” wound up selling them for slightly less than those who did not!  

The study’s explanation is that, for homes that are not brand new, touting “all new” features seems to call attention to the fact that the items mentioned needed to be replaced. It unnecessarily opened the door to suspicions about what went wrong that made replacement necessary.

A more effective strategy: under-promise and over-deliver. Rather than trying to convince buyers how “new” an older home is, do the renewal work, but don’t brag about it.  Then when potential buyers walk into the home, they will be impressed by the new carpets and fresh paint.  It’s the approach that uber-successful Zappos company founder Tony Hsieh calls “surprise and delight.” What is effective for leading a company and retaining customers can also be psychologically effective for selling a local home.

As a leading real estate company in our community,  we are constantly reminded of how important it is to never stop learning. If you are considering selling your home and are looking for cutting-edge marketing and advice, we hope you’ll contact us for a complimentary consultation.