01/11/2021
How to Have an Edge in Your Real Estate Business in 2022 (Part 1)
Fit Small Business reported in their Real Estate Report that Gen X (those born between 1965-1979) are the biggest buyers of homes in America in the ongoing year (2021). It also stated that they were the highest sellers of their properties. This is followed by older millennials (those born between 1980-1989). A look into these statistics gives an insight into how a real estate investor and realtor can have an edge in 2022 in his business.
I strolled further down into analytics and discovered that Index Mundia published that 30.6% of the Nigerian population are between the ages of 25-54 years. Visual Capitalists reported that 53% of the world population are between the ages of 20 & 59. This is relevant information to business owners, as it provides hints at which populations to target as potential clients.
The question now is, "How do we reach our targets?"
To draw a sales system that works, you must first endeavor to draw a customer persona, which gives you an in-depth analysis of who they are, how they live, where they live, where they hang out, etc.
The older generations are predominantly selling, while the younger generations are more often buying.
In this series of posts, I'll guide us through statics on how best to get at these people to close great deals.
1. Characteristics of Older Millenials:
a. Family/Career: They are tending to their growing families and settling into careers as leaders or soon-to-be leaders. With this, they tend to find homes, land properties to purchase, to get their growing families settled. Also, most times, they have the financial resources to buy whatsoever they deem would be comforting for themselves and their families.
b. Technology: They witnessed slow embraced technology, then exponentially increasing rate of change. You find quite a number of them on Facebook, Instagram, and LinkedIn. So, when considering a platform to reach them effectively, you should consider these.
c. Risk-taking: They are a bit more optimistic about all the possibilities and willing to take any risk. With this, they invest heavily in whatever course their guts clear them to dare. So, it is safe to say "If an investment plan is excellently packaged, they are most likely to give it a try.
d. Work pattern: They prefer to work, then play later, rather than play before work. They repeat this pattern, alternating it throughout the entire day. This also tells us that when targeting them for ads or proposals, time sensitivity is highly needed on the part of business owners. You also must be brief and sharp to get their attention.
e. Prudence: Though risk-takers, they want to acquire relevant knowledge based on any subject of interest before leaping. This explains why they are the highest you can target with Google ads. However, it cannot also be overemphasized that your business needs a converting website, as they would surely visit your website first in order to perceive what you think and look like. First, let me mention, that your website could either positively or negatively represent your business. If you're a person who loves excellence, it would show on your website.
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In the next post, you'll learn how to effectively meet your targets using technology, with the objective of achieving sales.