Attracting Younger Buyers and Sellers

The National Association of REALTORS released the first ever Home Buyer and Seller Generational Trends report last week. The 104-page document compares the habits, practices, beliefs and goals of the Silent Generation, people born between 1925 and 1945, and all subsequent generations through the Millennials, who were born between 1980 and 2000.

The National Association of Realtors Home Buyer and Seller Generational Trends report
A new report from the National Association of Realtors report outlines the differences among younger and older home buyers and sellers.

Based on some of the data regarding the younger generations, Help-U-Sell Real Estate is perfectly poised to assist them in their real estate transactions.

Younger buyers are more likely to want help understanding the process because they’re most often inexperienced in purchasing a home. Help-U-Sell offices often have agents dedicated to working with buyers, and our specialized Jack Bailey Buyer Consultant Training program is nearing completion.

The majority of Millennials who sold their homes used a full-service brokerage, but they were more likely than other generations to opt for limited service, presumably due to less equity in their properties. With a business model that offers full service (or less, if desired) for a low fee, Help-U-Sell is a perfect fit for the newest generation of homeowners.

Why are the younger buyers and sellers a desirable demographic? According to the report’s findings, they are the most optimistic, and younger sellers are the most likely to use the same broker or agent for their next purchase.

What can you do to attract Millennials?

* Make sure you’re easy to find online.

* Consider creating a Facebook ad that targets that age group who live in your area. You can further home in on potential buyers and sellers by selecting people who are newlyweds or just had a child, factors that could precipitate a move.

* Avoid the hard sell. Instead, offer information in a conversational tone.

* For buyers, write a blog series or create a drip email campaign geared toward educating first-time buyers.

* For sellers, let them know about your low set fee and how they can save the most money. These tips can include staging on a budget and how to market their property to friends, co-workers and neighbors, along with the different ways your office works with sellers.

What tips do you have for working with younger buyers and sellers?

Flat-fee Versus Commission-based Real Estate Business Models

On April 25, 2013, Help-U-Sell Bay Beach Realty broker/owner Dan Desmond and Scott Einbinder, a veteran real estate salesperson and consultant, in Toms River, N.J., will debate which real estate business model is superior: flat-fee or commission-based. Proceeds from the highly anticipated event will benefit the local Habitat for Humanity chapter.

Dan Desmond, Help-U-Sell Bay Beach Realty
Dan Desmond of Help-U-Sell Bay Beach Realty will debate the merits of the flat-fee business model on April 25, 2013.

While Desmond will be speaking on his own behalf and not as a representative of Help-U-Sell Real Estate’s corporate office, we are looking forward to cheering him on in about two weeks’ time.

Since we began operating in 1976, Help-U-Sell Real Estate has practiced the flat-fee (or set-fee) business model. Our founder, Don Taylor, thought the idea that consumers paid high commissions, based on the sale price of a home and not on the actual cost of marketing the home, could be improved upon.

Our brokers, all members of the National Association of REALTORS, offer the same full service as commission-based brokers, but charge a flat fee instead of a variable percentage. The flat fee is always at a savings for our sellers. However, we are not discount brokers. Our brokers determine their flat fee based on solid business practices (the market conditions, their profit margin and the cost to perform services) and not based on what the broker next door is charging.

Last year, our offices saved sellers $12.5 million in commission fees, when compared to a 6% commission. To us, a flat fee just makes sense for everyone: our sellers, our brokers and our brokers’ agents.

If you would like more information about how Help-U-Sell Real Estate’s set-fee business model works, visit our Franchise Opportunity Center website or contact us.

Highlights: NAR 2009 Survey of Home Buyers and Sellers

Source: NAR 2009 Survey of Home Buyers and Sellers is available free of charge to Realtor members at www.realtor.org

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According to the National Association of Realtors 2009 Profile of Homebuyers and Sellers, sellers largely want agents to:

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