Every year about 6,000,000 people sell their homes. Approximately 750,000 of those homes belong to Empty Nesters/Senior Citizens looking to downsize. That number is expected to DOUBLE within the next year or two.
Ways to help convert a Downsizing lead into a listing:
1. Point of contact
- Most Empty Nesters prefer a personal approach versus reaching out digitally. Tailor your communications to reach out by phone or a personal note/letter. Keep your communications clear and concise.
2. Turn a worry, into a "why not?"
- If your client is thinking about downsizing, illustrate the benefits of a smaller property, they can spend less time and money on maintaining the home. Inform them about the possible chance of leveraging their home equity to purchase a new home and pay off the mortgage.
3. Support your potential client's wants and needs
- Find out what their hobbies and interests are. Help them see their situation as an opportunity to redefine the purpose of their home. Show your clients homes where a third bedroom can become a den or a home office, or interest them in properties they can turn into “studios” and explore things they never had the chance to when the house was dedicated to raising kids.
4. Marketing to Empty Nesters
- For most seniors, staying active is a top priority. Real estate professionals should try to gain visibility in the clubs and organizations in which they belong. Figure out what events they are participating in and find a way to get involved. Advertise in places like tennis clubs, local golf courses, and community centers as they usually have senior-only events that would provide some awesome exposure for your business! Don’t forget about bingo nights, book clubs, and senior socials, because they also tend to draw in large groups of empty nesters.
Find out how many Downsizing leads are in your market and check out our online lead shop.
