According to the latest research from the National Association of REALTORS®, 13% of buyers in 2013 purchased a multi-generational home. This may not seem like a lot; however, many 20-somethings have moved back in with their parents to save money while they get on their feet, not to mention the Boomers who are taking care of aging parents. This small, but mighty, group of buyers comes to the home search process with a unique set of must-haves and deal breakers. Help them find the best home for their needs, while offering the highest level of quality service, with these tips.
1. Acknowledge the needs of each member of the household. Each generation will have their own set of needs and wants in a home. While the younger generation may want a home that’s tech-friendly, older members of the household may prefer a home that’s a single level so that they don’t have to climb stairs. And, older and younger generations may prefer to live closer to the hustle and bustle, whether it’s the hustle and bustle of church and health facilities or the hustle and bustle associated with urban amenities. These household members may want to live in areas close to public transit as well.
2. Keep space in mind. From the day we’re born, we begin to acquire stuff. Multi-generation homes contain the accumulated stuff of several generations of people. Make sure the homes you’re looking at have the storage space to handle it all. Additionally, people need time to decompress and be alone, so be sure that the homes on the list have enough space so that no one feels crowded out by the family.
3. Seek the input of all involved. Although not everyone living in the home will be signing the papers to purchase it, their input is still important. When showing homes, ask each person what they think. In some cases, you may need to observe and listen to what’s not being said, such as older people who seem uneasy in a multi-story home.
Working with multi-generation buyers may not be easy, but it does provide you with an opportunity to use your expertise and professional skills to get people into a great home that meets their needs. The added bonus? Your buyers and their families may be so impressed that they shout your praises from the rooftops and refer you to their friends. Be sure to keep in touch with them after the transaction closes, and send them your monthly Marketing Flyers. Visit Referral Maker to learn more about how Referral Maker® real estate CRM can help you keep in touch with your clients and to start your 30-day free trial!