Qualities of a Real Estate Agent
To build an overview of what successful real estate agents do to attract new clients, especially young families, who are looking to buy their first and second homes.
- Those who were born between 1965 – 1979 and are currently between 40-54 years old are known as GenX. As this is the population cohort closest to our desired age-group of 45-55, we primarily looked into insights focused on this generation.
- According to the National Association of Realtors' ‘Home Buyer and Seller Generational Trends study’, every one in six Gen-Xers purchased a multi-generational home in 2019.
- Out of these purchasers, 52 percent were of the opinion that they did so because their adult children have either moved back or never left home.
- Across all generations, 87 percent of all buyers purchased their home through a real estate agent.
- According to houselens.com, Gen-Xers prefer to work with experienced agents who can provide in-depth assistance, such as evaluation of particular properties, providing regular market reports for the area where they’re buying or selling etc.
- In order to win business from GenX, the agent needs to keep in mind the fact that family is the primary driver of their housing decisions.
- Therefore, the marketing content needs to focus on information around family-friendly amenities, schools data, commute times, work-life balance opportunities, character of the neighborhood etc.
- According to studies done by housingwire, the members of GenX are in their peak earning years with median earnings exceeding $100,000 a year. This generation is considered to be the largest generation with kids still living at home.
- Therefore, to sell successfully to this generation, the agent needs to keep in mind that they may be looking for bigger homes at a higher price point to accommodate their family and lifestyle needs.
Features of Successful Real Estate Agents in Quebec
Proposed next steps:
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Our initial research suggests lack of information on the topic specific to the Quebec area. Therefore, we would first recommend research to find out 5-7 key insights describing the factors that a real estate agent needs to focus on in order to successfully attract young families as client. Each insight would include information on what drives the factor to become an important quality for an agent to have. Quantitative evidence backing the insight would be preferred.
We would also recommend continued research to build an ideal profile of a successful real estate agent active in the Quebec area. Profile overview would include information on the facilities provided by the agent, channels used most frequently to promote his or her services to potential client base etc. Any information on success rates in selling properties to young families would be preferred.
Finally, to focus on advertising and communication requirements, we recommend further research to identify 5-7 recent trends pertaining to successful real estate advertising methods/strategies. Each trend would include a brief overview of the trend, including information on types of messaging and channels used. It would also include examples of companies that are successfully capitalizing on the trend. Any information relating to trends focused on marketing communication targeted towards young families would be preferred.