Huge Transfer of Wealth is Happening Now!
At a recent training event, we spent a lot of time talking about the transfer of wealth that’s happening around America now and over the next several years.
I’ve always said there’s three different places you can be when it comes to money. #1 In a place it’s moving away from, #2 In the place it’s at, #3 In the place it’s moving towards.
Your efforts are best spent in areas 2 and 3. One of the biggest changes we are seeing now is this tremendous number of Baby Boomers and Seniors that are looking for their downsizing or final home. They are selling their trophy homes and moving to something that better fits their needs.
Additionally, there’s a massive transfer of wealth coming from them, moving to their adult or young adult children. It’s unfortunate to see so much of this wealth squandered after being gifted, but there’s also a significant portion of it going into the purchase of houses, many times for all cash.
I’ve found some outstanding resources that we’ve been using over the past 90 days with massive success that SHOWS ME where these folks are, where their money is moving, how much they have available and their likelihood of becoming a real estate client for us within the next few months.
I’ll be revealing this at the Luxury Agent Mastery Conference, TOMORROW January 24th, and I’ll show everyone how we use it for profit every month. I’ll tell you it’s not exactly cheap to use it, but if it creates an additional six figure income for you, who cares? I’ve personally utilized it over the last few months and created enough revenue to buy some high end purchases for cash.
You’ll learn all about it at the training. It’s important to know where these folks are within your area. Most importantly, you need to get all of their contact information and know how to market to them in an effective manner.
It appears that this gigantic list of prospects is currently between level 2 and level 3 for us as agents. If you have an effective approach, you’ll attract a fair number of them to you and your services. Best of all, since there’s so much money that will be moving that way over the next few years, you’ll have a pretty good stronghold on the market and can continuously grow your income from this niche.
There’s a lot of money moving around between these elder homeowners right now. Their finances are changing, their housing needs are changing and the finances of their adult children are changing too. This is a big, big opportunity for you if you know where to find them, how to qualify them to attract the best candidates and a strong offer to get them to contact YOU.
The money will constantly flow more and more towards this area over the next few years. This is where you should be spending a small percentage of your time, efforts and energy.
It’s your job as a business owner to keep your eyes and ears open for opportunities like this, where you can position your business for maximum profit. The market is always changing and there’s always money moving up and down the food chain.
Keep an eye on the stock market, interest rates, Presidential changes, age demographics and overall consumer confidence. This is all just a very small list among dozens of things we should be watching for. Each generation works differently and they communicate in drastically different ways.
There are 75.4 million millenials that are 18 to 35 years old now. Meanwhile, there are 74.9 Baby Boomers that will be going through a housing need change. You have to communicate with these two groups in very different ways, with very different offers.
Throughout 2017 you’ll see that we will be assisting you with all of this and much more to ensure you have your finger on the pulse of TODAY’S marketplace.