Marketing a Home to Different Generations

It may be hard to believe, but those millennials that all the news articles used to complain about are all grown up. That means there are now three generations of homebuyers out there, and marketing a home to different generations has never been more complicated. 

Baby boomers, Generation x, and millennials all fall into the category of potential homebuyers. To make matters even more complicated, generation z, usually categorized as those born after the year 2000, will soon be in the market as well. 

If you are selling a home, it is more important than ever before to understand the needs and desires of each of these generations and how to market to them -- particularly how the right images can capture their imagination.

Baby Boomers

This may be the oldest generation on the market, but that shouldn’t discount them when it comes to selling houses. The baby boomer generation (those born between the years 1946 and 1964) holds 54% of the total wealth in the United States of America. This makes them a prime demographic for homebuying. 

What’s even more interesting is that many boomers are actually on the market for new homes. In the past, when a generation reached their golden years many chose to downsize into smaller homes that involved less upkeep. Baby boomers, while not completely following this trend, still account for a large portion of homes that are sold each year. 

Facts About Baby Boomers

• Baby boomers prefer more traditional and ornate homes

• Over 50% of younger boomers have looked online at homes for sale

• Boomers hold the largest share of wealth in the United States

• 85% of baby boomers plan to keep working past retirement age

What Your Listing Photos Should Focus On

• Showcase high-end updates, well-kept indoor and outdoor areas, and traditional spaces

• Highlight spaces that can be used as offices or for work

Generation X

Generation X resembles what was known as the Silent Generation (1925-1945) in many ways. This age group was born between the years 1965 and 1980 and has largely been overshadowed by the baby boomers before them and the millennials after them. 

They are a smaller demographic -- but they’re in their home buying prime. Many in this age range still have children at the house and will be looking for good schools and safe neighborhoods. This demographic is also known to be more decisive when homebuying, preferring to do the research online before contacting a realtor.

Facts About Generation X

• More likely to look at homes in person

• Younger and teenage children, so looking for long-term homes

• Typically more decisive when homebuying

What Your Listing Photos Should Focus On

• Child-friendly spaces, including room layout (a virtual walk-through can really show them what the house will be like before they visit)

• Outdoor area and walkability (aerial drone shots can help capture this)

Generation Y (Millennials)

This is the youngest generation of homebuyers. They are the first generation to have exposure to the internet from early childhood and have spent more time than any other generation online. 

They are slow starters into the real estate market, holding only 3% of the nation’s overall wealth. That is set to change, though, as they are set to receive the largest transfer of wealth from their parents, a massive $68 trillion. 

As millennials enter into their 30s and begin to have families, many are ready to find their first home. As far as buyers, millennials are less concerned with the ornate houses of their baby boomer and Generation X parents. Instead, this generation prefers smaller and more modern houses in urban areas. They are also active on social media platforms like Instagram and expect quality content when looking at real estate photos.

Facts About Millennials

• Largest demographic for homebuying

• Active on Instagram and expect quality content

• Location is extremely important

• Willing to go over budget for areas they like

What Your Listing Photos Should Focus On

• Show views from inside home

• Use drone photography to show exterior and walkability

• Don’t skimp on editing (they’re used to high production values, so it really takes great images to catch their attention)

With all of these different generations and personalities on the market, it’s important you know who to focus your marketing efforts on and how to reach them. A big part of this means showing your home in the best light possible to appeal to the right audience. And remember that a large number of Alaskan homes are sold to people before they even step foot in the house, so your marketing needs to be comprehensive and well thought out.

Reach out to us for real estate photography that will stand out and captivate potential home buyers no matter what generation they’re a part of.

Spring Is the Best Time to Sell a Home (Yes, Even in Alaska)

Warm(er) weather, trees returning to life, snow melting -- there are many things to love about spring in Alaska. One thing you may not know is that it’s also the best time to sell a home here.

In colder climates like ours, people tend to hide indoors for most of the winter season. Many may have been looking at new houses online and thinking about moving for months. Now that the weather is finally warming up, it presents the perfect opportunity to act.

If you have clients or potential clients who aren’t sure whether or not they should start the selling process in the spring, here are a few pieces of info you can remind them of to nudge them in the right direction.

April Showers Bring...

Do we even need to finish that thought?

If you want to really showcase the yard and the surrounding outdoor area with some great pictures, spring is the time to do it -- because everything is gorgeous and in bloom! Really highlight the vibrant greens as the trees and plants come to life. (If you’re really lucky, you might get to sell a property within eyeshot of a waterfall that’s just started flowing again.

These are the kinds of shots that money just can’t buy, and they can really showcase how amazing and close to nature the property is.

The Timing Is Perfect to Showcase the Views

Alaska is gorgeous year-round for different reasons. But let’s be honest, if someone is looking for views of the iconic Alaskan wilderness, spring is the perfect time to get them for all of the reasons listed above. 

Snow is melting, but still holding its own. Trees are green and lush. Waterways are icy and majestic, but flowing strongly.

How is this different from the above?

Because we’re talking about showcasing the views. From inside the house.

If you head out into nature and look around hard enough, you can probably find some great “springtime in Alaska” shots most times of the year. But if you’re trying to get that perfect shot through a bay window, the timing needs to be ideal. Which means spring.

You Can Get a Head Start

Unless you’re new to the business, you don’t need us to tell you that summer tends to be the busiest season for real estate agents. After all, you’ve lived it.

So, why should you be pushing sellers to start in the spring? Because when people say “summer,” what they really mean is that the highest returns for sellers (and you) come in May and June. This means that everyone thinking of selling their homes will be rushing to get them on the market around the same time.

By getting everything ready in early spring and working with you early, they will be getting a head start. This means the potential for more buyers (and more higher-paying buyers) to view their home before the market becomes overcrowded with listings. 

You’ll still need to wow them with great images, but when you do you won’t have to compete with a thousand other listings that also have high-quality, professional photos.

*A quick note on this. While it is true that May is the high season here for real estate sales, you might actually do better if you are able to sell in early spring depending on where you’re located in Alaska.

Why?

Well, in Anchorage and surrounding areas, for example, there tends to be an influx of people in late winter and early spring, largely due to the large federal government and military presence.  For whatever reason, that’s when they seem to make their moves. If you’ve got properties up and ready to sell around this time, you’re likely to find a surplus of buyers and very little competition.

Convinced? Want to know more about how the right images can make your job of selling a lot easier? Get in touch with DMD today!

How to Set Your Real Estate Business Up for Success After the Coronavirus

The coronavirus (COVID-19) pandemic has upended the lives of people in the U.S. and around the world. The crisis has shaken up our country’s economy, disrupting every type of business and transforming the real estate business overnight.

We’ve seen this at DMD, where we’ve resorted to only photographing vacant properties and expanding our offerings with a new marketing kit for realtors as we try to make the best of a very difficult situation.

But as hard as it may be to believe right now, the coronavirus will pass — though our world will likely never be the same. To ensure your business is set up for success when the crisis subsides, you need to adapt quickly and start preparing now for the post-coronavirus world. 

Your real estate business can survive — if you plan correctly. To set your company up for success once everything reopens after the coronavirus, here are four critical tips:

Stay Positive

With the unending flood of news updates and social media posts, it’s easy to feel like the world is ending. But the coronavirus pandemic won’t last forever. For proof, look at China. Already, the country has lifted lockdowns and travel restrictions, and many employees have gone back to work. 

The United States is around seven weeks behind China in the advancement of the coronavirus. If this trend continues, we will witness a steep drop in coronavirus cases come May.  

All of this translates to what is looking like only a brief hiatus for your real estate business. And when this crisis does past, you don’t want to be beaten by your competitors in the race to recover lost clients and revenue.

Keep your spirits up, and if you can find creative and helpful ways to do so, be that voice of positivity for current and prospective clients as well.

Be Patient with Prospects

As a real estate agent, you may find prospective homebuyers and renters getting cold feet on deals. For many clients, stock market losses and/or fear of recession may make them reluctant to make a purchase. 

Because of this, you need to allow prospects more time to consider their investment, while continuing to encourage them by reminding them of their goals — and the very real benefits to buying right now (i.e. low interest rates, minimal competition, and likely lower prices). 

Connect with Prospective Clients on Social Media 

In times of crisis, we get a chance to see who people — and companies — really are. Now is a time for you to position your brand as a strong, empathetic leader. 

Without being salesy or pushy, you can provide your audience with support, education, empathy, and resources on social media. When wielded correctly, social media platforms can be mighty tools. 

For current clients, email marketing is a great tool right now to do many of the same things we mentioned above.

Strengthen Your Overall Digital Marketing Efforts

If you’ve been a real estate agent for a while, then you lived through a similar economic situation not too long ago. In the recession of 2008, many companies saw a dive in revenue as Americans tightened their budgets and spent less. But some companies managed to survive — and often they did so by ramping up their digital marketing efforts. 

Real estate businesses that regularly produced free content to answer real estate questions were able to establish a strong relationship with audiences during the recession. Once the recession was over, these real estate businesses not only survived but saw a boost in revenue because of the solid relationship they had fostered with future prospects.

How can you strengthen the digital marketing efforts of your real estate company? There are more ways than one, and pictures are (as they say) worth a thousand words. Don’t just tell potential clients what you can do — show them... with the help of DMD Real Estate Photography.