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Understanding how different generations approach buying and selling is crucial for success in today's competitive environment. Amanda Webster, COO of Fund & Grow, has helped clients obtain over $10 billion in business credit and has expertise working with all four generations. Her insights can help you better serve clients across age groups.
Gen Zs (1997-2012) and baby boomers (1946-1964) share more similarities than expected. Both prioritize affordability and smaller spaces due to financial constraints, whether it's student loan debt or a fixed income in retirement. They value homes with remote work capabilities, sustainable features like solar panels, and walkable neighborhoods.
Boomers also seek low-maintenance, energy-efficient homes that accommodate aging needs, such as wheelchair accessibility and live-in care options. Both generations prioritize community-centered locations with easy access to shopping, healthcare, and social activities.
Financial literacy is a challenge for both boomers and Gen Zs. Boomers may be financially savvy but lack knowledge of mortgage lending processes if their spouse handled finances. Gen Zs need handholding through the homebuying process due to unfamiliarity with credit scores, qualifying for mortgages, and closing costs.
Gen X (1965-1980) and millennials (1980-1996) have distinct needs. Millennials are concerned about schools, open floor plans, energy-efficient features, and community spaces. They struggle understanding other generations' perspectives, particularly boomers' financial situations. Gen X balances family life with retirement planning, seeking homes for college-aged children or downsizing.
To provide exceptional service, ask the right questions tailored to each generation's concerns:
* Gen Z: budget flexibility, eco-friendly features, walkability
* Millennials: school districts, open floor plans, smart home technologies
* Gen X: forever home considerations, multigenerational living, space for children returning home
* Boomers: 55+ communities, healthcare services, low-maintenance homes
Understanding each generation's values and needs is key to successful selling. Educate yourself on their unique requirements and adjust your approach accordingly.
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