Call it a gut feeling or a call it a conviction based on a growing mountain of evidence, but in my opinion, Baby Boomers are going to flood the real estate market during the next 10 years like a tidal wave. Downsizing, relocating, home sharing, group buying, or reeling from that crash point when our plans to stay in our home meet with the reality of our actual income from our savings – here we come, and we’re not going to follow any path or fit any mold you’re probably used to. Real estate firms that gear up for our needs – that take the time to understand us, will prosper. And the first thing to learn and understand is – don’t expect us to walk in the door, hire you to sell our big homes, and trundle off in our electric wheelchairs to the nearest assisted living facility or retirement community. We’re going to be all over the place – choosing options to “age in place,” looking for Village to Village communities, and in some cases buying bigger houses than ever before for shared living. You will not be able to know what we want based upon our age as we walk in the door. We are going to surprise you. If you understand this, you will garner clients and make money. Perhaps more than ever before.
Currently, there are 78 million Baby Boomers in the United States, and of those, 10,000 are retiring each day. About half plan to relocate in some form or another. Ka-ching.
I think that one company, Southeast Discovery, gets it. They’re a real estate consulting firm specializing in Baby Boomers interested in the Southeast region: Florida, Georgia, North and South Carolina, Tennessee and southern Virginia. Marian Schaffer, Principal and Founder of Southeast Discovery, notes “There’s been a sea change in today’s retirement buyer and what they want their retirement years to look like. It is much more focused on intellectual growth, health and wellness.”
Thank you for understanding us, Marian Schaffer. Live long and prosper.