As our nation changes over time, you need to stay aware of demographic shifts that impact the buying and selling of real estate. Demographics refer to statically gathered information that characterizes a given population by distinctive criteria. For instance, demographic analysis may divide persons into groups based on age, income, gender, or religion. And persons in a defined demographic group tend to demonstrate similar characteristics, such as preferred methods of shopping or a bias toward buying products with certain features.
In this course, we focus on demographic groups of people called generation groups. In Chapter 1, you will learn about the label for generation groups based on birth year and life experiences. In Chapters 2 and 3, you will learn about generational-specific buying and selling trends and how to better identify and serve the individualized needs of group members. Specifically, Chapters 2 and 3 cover a detailed review of the following four topics based on current home buying trends to ensure agents have important tools for guiding different generation group members through the home buying process:
- Environmentally-friendly homes
- Accessory dwelling units
- Planned unit developments
- First-time home buyer preparedness
