Upload
neoscape-inc
View
121
Download
5
Embed Size (px)
Citation preview
THE GREAT AGE DIVIDEHow the young and the older buy real estate differently
and what marketers need to know about it
YOUNG PEOPLEARE AVOIDINGREAL ESTATE BROKERSS
THE MORE A BUYEREARNS, THE MORE LIKELYTHEY ARE TO WORKWITH A BROKER
MOBILE APPS AREASCENDANT AMONGTHE YOUNG AND AFFLUENT
SHOW ME THE DATA:HEAD WINS OUT OVERTHE HEART
YOUR NEW HOME COULDBE A CLICK AWAY
THE WAY CONSUMERS BUY PROPERTY IS SHIFTING QUICKLY. Which means the way developers are selling residential units must also change. While the popularity of online real estate tools and resources has been increasing over the last decade,
www.neoscape.com
Data becomes increasingly important for those who areaffluent. The heart doesn’t always win out in the end.
technological change is shortening the transaction cycle and changing the perception of real estate brokers, perhaps permanently. So what resources do buyers rely on most? How do consumers feel about working with a broker? Do they make real estate decisions based mostly on their heart or their head?
HERE’S WHAT WE FOUND OUT
Among buyers of all ages within the past year:
64%of those who earn more than $100,000 reported usinga broker
72%rank a broker as their most used resource when looking for a new home
51%of 25-34 year olds prefer getting their info from marketing materials, renderings and websites,not brokers
62%of people over 55 years old prefer to work with a broker
of people over 55 use mobile apps
Only14%
85%said property websites most influenced their decision to buy a home
77%said word of mouth
67%said raw data
64%said media sites
Brokers and mobile apps tied at 62% which is why brokers need to use mobile apps differently for different age groups and income levels
vs
60%of people who make more than $100,000 think with their head rather than their heart
94%of those who earn more than $100,000 use property websites to gather data when deciding to purchase a home
Of those who think with their heart over their head, almost half of them (46%) make less than $50,000
55%of those under 34 years old find a mobile app more influential than a broker
Brokers need to harness technology to remain relevant with the younger demographic – especially millennials – and use technology in conjunction with traditional media for those who are older.