Yes! Interactive Technology & the 55+ Home Shopper are a Great Fit!

People are always asking: My new project is a 55+ community -- do you think interactive technology would be useful?

Technology helps answer your home shopper's questions!

The answer is a resounding yes!

First, a few thoughts about 55+ and technology: today's 55+ home shopper is more tech savvy than you might think.

The largest growing Facebook user group is the 55+ audience. The 2017 NAR Home Buyer and Seller Generational Trends Report reports that 89% of home shopping Boomers search online -- which is consistent with any of the other age groups -- including Millennials.

We've found every generation of home shoppers expects some sort of digital engagement and builders need to consider providing tools to meet those consumer expectations.

By the time a Millennial, Gen Xer, or Boomer home shopper walks into your sales or leasing office, they’re already well into their journey for a new dwelling.

One key take away: technology acts as an assistant to sales and leasing agents as it encourages home shoppers to ask questions and find solutions.  Whether the process includes creating a dream home with a hobby room in lieu of the standard 3rd bedroom or determining how Plan 2158 fits on the selected lot, interactive technology helps the home shopper visualize and embrace their new home.

And, your 55+ audience seeks information! They're considering a life-changing purchase and want to make sure they've checked all the possible boxes. Take a look at CPS' interactive touchscreen system, SalesTouch, engaging home shoppers at Latitude Hilton Head -- the latest Margaritaville 55+ community. The sales agents address questions and provide understandable answers at a touch!

Demographics, Home Size, CRM: Who's Buying the Biggest Homes?

Today's new home marketplace can be thought of as a made up of a series of age-related buyer segments : boomers, millennials and Generation X'ers to name the most recognized.

Millennials are largest segment; Gen X'ers are buying largest homes!

Millennials are re-visiting previously developed home preferences, says Clare Trapasso in a recent Realtor.com article, as they're leaving the "fantasy, pace and possibilities" of big-city living and moving out to the suburbs.

Yes, the "burbs", and that's just the first of a series of major changes being noticed in the new home marketplace.

Another is the changing relationship between buyer demographic groups and home size. Today, Gen X'ers (generally thought of as those with birth years between 1965 and 1985) are buying the largest homes. They're the most likely to have children, with schools as "top of mind" and often have their parents living with them, as well.

While the average Gen X'er home is 2,200 square feet, Millennials typically purchased 1,720 square foot residences.  Boomers were in the 1,800-1,920 range with the larger homes going to younger Boomer buyers.  Jonathon Smoke, chief economist at realtor.com, notes that "older boomers are trying to downsize."

Of course, home size varies by regional price points.  The relationship between size and demographic group remains constant, however.

What does this have to do with CRM?  A good CRM system allows you to "slice and dice" information so you're able to associate profile information with individual prospects and then search through your database, using software tools, to locate those prospects meeting specific criteria.  Do you have more of your largest floorplan units available?  Consider creating a demographic-specific search and develop a followup email focused on home size -- highlighting local schools and suggesting alternative uses for extra bedrooms!

CPS•CRM features customized prospect profiles; we can show you how to slice and dice data to market effectively!