Marketing To Boomers: Why You Should and How to Do It
Many agents are convinced they should concentrate their marketing skills to Millennials and Gen X prospects while overlooking Boomers in the 59 to 77 age group. While Boomers are sometimes blamed for the current inventory shortage, as many have postponed their next home purchase, forward-thinking agents see them as a future "silver tsunami" of inventory. 
A recent MBA study estimated that 4 million Boomer homes will enter the market between now and 2032. Here are three strategies to consider that can help you reel in these prospects.
Collect lists of reasons why it may be time to downsize. A bite-sized "listicles" flyer or Instagram post is an easy way to get someone's attention. Be sure to mention that smaller homes translate into lower utility bills, taxes and insurance premiums.
Write about income from ADUs (Accessory Dwelling Units). Zero in on older Millennials and Gen Xers in their 50s. Explain how adding a garage apartment, an additional bedroom or even a tiny home could provide rental income now and provide a home to an aging parent later. This will provide retiring Boomers with an option other than buying another home.
Publish articles that feature new housing options for seniors that want to maintain their independence. For example, introduce them to the "tiny house community" trend, especially if you're in an area where these are springing up.1
New Chrome Extensions for You to Test Drive
Since the Chrome browser has over 3.2 billion users, IT developers are always busy creating new extensions. Whether you'd like to manage your surfing time, block annoying ads, or find more prospects on LinkedIn, one of these extensions can make it easier. 
CareerFlow AI helps you perfect your LinkedIn profile. It instantly scores your profile against a set of predetermined criteria, then supplies recommendations for improvement. It's free to use, with premium features available for job application tracking, cover letters, and more.
StayFocusd lets you budget your time on specific websites so you can eliminate distractions and hit all of your deadlines. It's highly customizable — you could set your time limit to 20 minutes on TikTok and 10 minutes on Facebook, for example.
Ghostery is a sophisticated ad-blocking extension designed to remove ads that distract you while surfing. It also encrypts your browsing data so ad-tracking tools can't collect personal information, which can speed up page uploads.2
Give Open House Visitors a Sign. Or Two.
Preparation for an Open House event usually includes putting up signs at street corners. But if you add some fun, informative signs inside the home, these can be the selling points that result in a contract. Signs that draw visitors' attention to desirable, historic, or valuable features are especially hard-working.
Here's an example: If the seller plans to sell high-end appliances instead of moving them, suggest they add them to their home's sale price and make them part of the sale. If the seller has a consumer-coveted item like a Miele or Asko washer/dryer, it could be the "plus" that sells their home faster. Be sure to put signs on these items with messages like "Falling in love with us? We're staying!"
Historic features deserve a shout-out, too. Remodelers have created stunning floors and countertops by recycling wood from bowling alley lanes and demolished homes, so be sure to create signs to inform buyers. Stained glass repurposed from a closed church or stately home also deserves signage that tells their story.3
Are Prices Finally Ready to Cool Off?
After what was probably the hottest summer in recorded history, you're probably looking forward to cooler temperatures. Here's some good news: After rising almost all year, home prices may finally begin to cool soon, too.
Recent data from real estate analysts at Black Knight shows that home prices showed signs of weakened month to month growth, and here's why. While still gaining, which they usually do at this time of year, the gains fell below their 25-year average. This happened after significantly outdoing their historical averages from February through June.
"In addition to monthly gains slowing below long-term averages, Black Knight rate lock and sales transaction data also points to lower average purchase prices and seasonally adjusted price per square foot among recent sales," said Andy Walden, vice president of enterprise research at Black Knight.
However, some first-time buyers are still searching for affordability. It now takes roughly 38% of the median household income to make the monthly payment on the median-priced home purchase. This makes home ownership the least affordable it's been since 1984.4
Real Estate Scams: AI Has Entered the Chat
In our unpredictable industry, there's one thing you can rely on: attempted scams. Hackers target you, your clients, and title company staff. And with the arrival of several free AI programs, they're updating some classic scams.
One involves a fake seller who convinces a buyer or agent that they own a property they want to sell quickly. A variation: fake landlords who trick potential renters out of deposits for a non-existent rental.
This scam is being refined by criminals using AI apps to create convincing fake emails, texts, voicemails, and even videos. One newer method of scamming is the use of deepfakes—highly realistic false images and videos of people, objects, and scenes—to advertise properties for sale or lease. Deepfake technology can even impersonate agents, landlords, lenders, or consumers.
AI writing tools are another favorite of scammers. These are used to craft fake emails and correspondence with wiring changes that divert a victim's down payment to the scammer's account. Writing tools have helped scammers based in other countries to eliminate badly-written messages, which was (and is) a reliable way to ID a scammer.
To avoid loss to AI-wielding criminals:
- Establish clear procedures for your clients, staff, and vendors to follow when a scam is suspected.
- Verify all transaction details independently.
- Create unique passphrases for your clients when delivering documents.
- Search property records and research properties using sites like Google Maps, Streetview, and Lens.5
Sources: 1lightersideofrealestate.com, 2blog.hubspot.com, 3houselogic.com, 4cnbc.com, 5theclose.com
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