Real estate professionals are finding opportunities to adjust to generational shifts and emerging consumer demographics. Their access to the market, values, and lifestyles may differ from previous homeowners. Understanding demographic changes and what each generation wants helps real estate professionals thrive and work with clients across generations. It also helps them aid home seekers as they transition into homeowners.
Discover the wisdom of Forbes Real Estate Council members who’ve successfully adapted to generational shifts and demographics to build a successful brand.
Listen & Learn
Conducting research lets you hear directly from clients. Studies demonstrate that younger clients lean toward digital self-service. Embrace a range of channels and experiment to meet your needs.
Go Big With Big Data & AI
Analyze extensive data groups to study demographic changes, gain fresh associations, and avoid unconscious bias.
Merge Macro & Micro
Quantitative, data-driven reports offer a specific exploration for insights into an apartment neighborhood when reviewing the result of a “lease audit,” which can assist in examining the attributes of a community.
Get Involved In Academia
Academia supports interactions with an eclectic group of real estate professionals worldwide.
Examine Your Own Experiences
Explore your experiences, then use that knowledge to understand others, building on your experiences and expertise to understand others.
Listen To The Money People Economists
Engage with economists at realtor conferences and professional affairs. Conversely, examine and explore local real estate movements and markets.
Initiate Authentic Dialogue
Engage in conversation. Listen as tenants, especially those of different generations, talk. Consider the context and motivating social/economic movement.
Track Behavioral Shifts–& Move With It
Client preferences rapidly change. Monitor shifts in work, life, and recreation.
Reflect On Your Resident Base When Hiring
Seek a workforce to support tenants. For example, various generations, with the diversity to mirror tenants.
Embrace New Technologies & Media
Enjoy and employ new tech, media, and social movements while building relationships along the generational scale.
People Watch
Be a social anthropologist and study people in their natural habitats, work, and play.
Meet People Where Their Attention Is
Find people as they are. Some folks do TikTok, some Facebook, and others enjoy Instagram or Medium. Every demographic has values, needs, and concerns.
Stay On Top Of What Is Trending
Stay current and knowledgeable in your area of specialization. Appraise studies and white papers issued by reputable organizations. Consider implementing proactive market research.
Explore & Be Familiar With The Generations’ Cultural Expressions
Keep up with music, shows, memes, social media, dances, expressions, values, presentations, diet, and more!
Communicate Online & Off
Engage on social media to understand what’s on people’s agendas and minds.
Patrick Carroll is the creator and CEO of CARROLL. This respected real estate investment company began as a multi-family and retail assets company and has grown into a real estate brand with a 30,000-unit portfolio.
