Homebuyers are finding their perfect homes in various ways, including real estate websites, social media, open houses, and more. While the way homebuyers search for homes is based mainly on personal preference and comfortability, age demographics can also play a part.
Wondering what marketing strategies are worth your time and marketing dollars? Identifying your target audience and their demographics can help you decide which ones are worth investing in. Let’s dive in!
Gen Z (1997-2004)
Focus On: TikTok and YouTube
Gen Z homebuyers are wildly into the social media era. TikTok and YouTube have become extremely popular within the last few years, making them the go-to social media websites for these young buyers to look for homes. Many Gen Zers spend a lot of time scrolling on TikTok and YouTube, so capitalizing on that by posting videos consistently will help land you in front of your target audience.
The 2023 NAR Home Buyers and Sellers Generational Report noted that only 4% of buyers and 3% of sellers are in the Gen Z demographic, so it’s important to keep that in mind. However, if you can get in with this demographic and help them now, you could have a client for life!
Younger Gen Y Millennials (1990-1998) and Older Gen Y Millennials (1980-1989)
Focus On: Facebook, Instagram, and SOI
Focusing on social media websites like Facebook and Instagram is the best strategy for Millennials. Facebook came out in 2004, followed by Instagram a few years later in 2010. Millennials grew up with these social media websites and are more comfortable using them over TikTok and YouTube.
The 2023 NAR Home Buyers and Sellers Generational Report found that the young Millennial age demographic (1990-1998) has the highest agent referral percentage among all demographics, at 50%, so keeping in contact with your SOI could help you get some leads.
Gen X (1965-1979) & Boomers (1946-1964)
Focus On: Search Engines (Google) and Websites
Gen X and Boomer homebuyers are less likely to use social media websites and are more likely to go straight to the source. They have likely bought or sold a home before, so they may use the same real estate agent and search for them on Google to find their website to contact them. Focus on making sure you have an active Google profile with your contact information included and an updated website that’s easy to find when they search your name.
The 2023 NAR Home Buyers and Sellers Generational Report found that buyers and sellers in these age demographics make up the largest percentages, including 24% of buyers and 20% of sellers for Gen X and 39% of buyers and 53% of sellers for Boomers. Many Gen X sellers are looking to upgrade, while many in the Boomer generation want to downsize or purchase a multigenerational home to care for older parents.
Before you decide to throw money into marketing, it’s important to determine your target audience to ensure it’s money well spent. If you have questions on how to take your marketing to the next level, reach out to us or schedule a 30-minute call with us! We would love to help you focus on your strengths while we handle the rest!
