Current demographic trends are causing the real estate and staging industry to adjust their services to remain effective for their clients.

In 2021, millennials made up 43% of buyers, up from 37% in 2020. Millennials are those now in their late 20s to 40-something, are more established in their careers and are ready to buy a home. Some are starting to have families which often lead to changing their focus and priorities.

Baby boomers born between 1946 and 1964 make up 42% of sellers. So, in essence, Millennials are perhaps purchasing grandparents’ homes.

Millennials’ priority list for a home includes convenience and amenities. They want ease of commute, and/or work from home spaces, reside near good schools, and all the amenities possible to enjoy everyday living. They look for move-in ready homes vs fixers, low maintenance homes and yards. They are a generation that will have considered roommates to offset their mortgage, and/or buy a home with an ADU or add one to the property.

On the other hand, Baby Boomers, born between 1946 and 1964, make up 42% of sellers. Many like to age in place, but there is also a pull to live near family and grandchildren who may be in other cities or states. Some move on to senior living that require less upkeep and provide more amenities.

If these two generations make up most buyers and sellers, then what does that say to the seller who wants to move? It says that while you have maintained your home over time and have a quality property to sell, the buyers that are looking want updated homes and yards, with little deferred maintenance.

Enter the staging professional who has added Project Management to their services so that you can obtain inspections and make the necessary repairs as well as large and small updates that will appeal to that demographic. Knowing what buyers prefer is the stagers job. Most sellers would labor over how much to do, what to invest, and anguish over if they would even recoup these investments. Certified Staging Professionals (CSP’s) are well versed in demographic staging and project management.

Because it is likely that some of your buyer offers will come from Millennials, providing more of what they are looking for will generate the overbids that result in more money for you when you sell.

Even with the rising interest rates, buyers are looking for the right home in good condition.

Historically, the updated staged home generates more than the “as is” sale. I have a resource list that I share with clients so they can make these decisions when we set our strategy. Sellers are smart enough to make their own decisions, we provide the information and resources to do so. You can count on your Realtor for that service.