Elite AgentFEATURE INTERVIEWS

How generations negotiate: Boomers to Gen Z in the property market

From Baby Boomers planning their retirement to Gen Z first-time buyers, generational differences shape the way people negotiate and engage with the property market.

Simon Pintado, Buxton’s Bentleigh’s Director and Auctioneer, has spent over 16 years immersed in the intricacies of real estate, and says each demographic needs to be met on their level.

โ€œReal estate is all about matching the energy of the person in front of you,โ€ Simon explained.

โ€œYounger clients expect fast, digital communication – think Uber speed. Older generations, on the other hand, value trust, patience, and a thorough, line-by-line explanation of the process.โ€

Simon Pintado Buxton’s Bentleigh’s Director and Auctioneer. Image: Supplied

Navigating the nuances of generations

Simon is keenly aware of the distinct ways different age groups approach buying and selling. For younger clients, speed and digital accessibility are non-negotiables.

โ€œYounger buyers want everything at their fingertips … fast response times, digital contracts, and seamless communication,โ€ Simon said.

โ€œThey often look for agents who can provide that instant connection.โ€

In contrast, older clients gravitate toward a more personal and trust-driven approach.

โ€œWhen dealing with someone older, the conversation is slower and more deliberate.

They want to ensure every detail is accounted for. Trust is paramount,โ€ Simon said.

โ€œTheyโ€™re not just selling a home; theyโ€™re securing their future, so itโ€™s a much more sensitive transaction.โ€

Simon also highlighted how older generations value relationships and familiarity.

โ€œTheyโ€™ll often choose someone theyโ€™ve been dealing with for years, even if that agent might not be the best in the area.

For them, trust outweighs everything,โ€ he explained.

Building trust and long-term relationships

Simonโ€™s approach to building trust goes beyond single transactions. His focus on creating lasting relationships has been the foundation of his success.

โ€œIโ€™ve always told my clients that I want to be their agent for life,โ€ he said.

โ€œSixteen years in, Iโ€™ve sold homes for some clients multiple times and have extended those relationships to their family and friends. Itโ€™s a long-term view that pays dividends.โ€

In his experience, older clients, in particular, appreciate this consistency.

โ€œThey often rely on word-of-mouth and family referrals. Their trust is built over years, not through online ratings or social media profiles,โ€ Simon said. โ€œItโ€™s about being present, checking in regularly, and understanding their needs.โ€

Younger clients, particularly first-time buyers, often bring a different energy to the table, one characterised by independence and self-reliance.

โ€œFirst-time buyers, for instance, tend to keep their cards close to their chest,โ€ he explained.

โ€œTheyโ€™re cautious and often rely on the advice of parents or friends … whereas somebody that’s in the older demographic, if they walk through a home and they love it and they want to buy it, they’ll let you know. They don’t want to miss out.”

This dynamic adds a layer of complexity, as younger buyers frequently juggle a multitude of options and opinions while navigating their decisions.

Simon emphasised the importance of understanding their perspective and tailoring communication accordingly, ensuring they feel supported and informed throughout the process.

โ€œItโ€™s a different dynamic, but one that requires just as much attention.”

Expats: a unique clientele

Expats bring their own challenges, blending traits from both younger and older demographics.

Simon shared how expats often rely on digital tools and virtual interactions to make property decisions, particularly when buying from overseas.

โ€œIโ€™ve sold homes entirely through video tours, especially during COVID,โ€ he said.

โ€œSome expats hire buyer advocates, while others fly in for brief visits to view properties.โ€

Despite their reliance on technology, expats also appreciate old-school relationship-building.

โ€œThey trust referrals and repeat business, just like the older demographic,โ€ Simon explained.

โ€œBut theyโ€™re also heavily influenced by online information, making them a unique blend.โ€

The impact of technology and AI

Simon acknowledged the transformative role of technology in modern real estate – which has made a big impact in how agents deal with demographics across the board.

โ€œCOVID changed everything,โ€ he said. โ€œBefore, weโ€™d be working late into the night to meet clients. Now, with video tours and online tools, most of our work happens during the day. Itโ€™s streamlined the process but also raised the bar for the quality of digital content.โ€

AI, in particular, has become a critical tool for agents. โ€œIf youโ€™re not using AI, youโ€™re falling behind,โ€ he said.

โ€œFrom automating processes to providing insights, itโ€™s a huge benefit. But it also highlights the importance of the human element. AI might replace some roles, but it canโ€™t replace trust and relationship-building.โ€

Looking to the future, Simon envisions a more interactive and globally connected real estate market, with technology playing an even larger role.

โ€œAI will make it possible for buyers to walk through homes virtually, no matter where they are in the world,โ€ he said.

While he finds this prospect exciting, Simon acknowledges the limitations of digital innovation.

โ€œItโ€™s not the same as physically walking through a property and feeling the space.”

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Catherine Nikas-Boulos

Catherine Nikas-Boulos is the Digital Editor at Elite Agent and has spent the last 20 years covering (and coveting) real estate around the country.