Downsizers: a new growth market

Credit: Seniors Housing Online
Downsizers: a new growth market
Written by: Ron Reed
on

Real estate agents take note: Downsizers are cashed up and ready to buy. And there is a way to connect directly with this active buyer group.

When I speak with listing agents some common themes emerge. The markets in both Sydney and Melbourne are slowing. Auction clearance rates are down and the number of buyers attending open home inspections is thinning.

But there is a segment of buyers, who are cashed up and eager to buy the right property. That market segment is downsizers, the target audience of Downsizing.com.au and SeniorsHousingOnline.

Good incentives for downsizers to buy

Demographer Bernard Salt recently commented in the media that downsizers are among the most active players in today’s property market.

And why wouldn’t they be?

Many empty-nesters and baby boomers sold their family home during the height of the boom, pocketing maximum value on their property. Now they’re cashed up, ready to transact and supported by attractive breaks in super.

The key for selling agents is to recognise what downsizers are looking for, and pitch directly to this highly active market.

What are downsizers looking for?

Let’s not beat around the bush. Downsizers can afford to be picky. They want quality – high end appliances for instance, are a must-have.

They want space. Two bedrooms is good, three is better. After all, downsizers love to entertain and have their guests, including grandchildren, coming to visit.

They want storage. Lots of it. This may seem counter-intuitive but the fact is, downsizers still hold onto plenty of trinkets from their family home. They need somewhere to store the grandkids’ toys. And as this generation of empty-nesters puts a high value on physical activity, they want somewhere to stash their golf clubs, tennis racquets and other hobby or sporting paraphernalia.

Target your marketing

It’s not enough however for a property to offer the three essentials of quality, space and storage.

As a listing agent, you need to target your marketing to downsizers. Empty-nesters want to find a property that matches their niche. But they don’t want to trawl through hundreds of listings in the hope of finding one that suits their needs.     

That’s why it makes sense for agents to actively position their marketing to target downsizers. Use keywords in your online collateral so that you’re actively reaching out to downsizers.

Advertise on a specialist website like Downsizing.com.au / SeniorsHousingOnline to directly connect with your target market of downsizers, and tap into our database of ready-to-go buyers.

Make no mistake about the buying power of the downsizer population. As Bernard Salt notes, Australia’s 5.5 million-strong baby boomers have benefitted most from property value growth. That makes downsizers a market segment no agent can afford to overlook.

Downsizing.com.au and SeniorsHousingOnline provides the bridge that lets you connect with downsizers, and secure a sale sooner.

 

Greg Oddy is Director of Sales and Marketing for Seniors Housing Online and Downsizing.com.au

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