BrokerageIndustry News

Big referral fees lure agents into second-home market

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Would you like to receive $5,000 or more for a single telephone call? If so, there's a great way to make more money if you're willing to step out of your normal real estate market area. The market may be in the doldrums, but there's one part of the market that seems to be going strong -- that's the second/retirement home for the baby boom generation. If you're willing to make a referral outside your area, you can make a substantial amount of money for doing nothing more than making a phone call. Baby boomers are flush with cash. In 2006, boomers between the ages of 50 and 60 reportedly spent $1 trillion. We also know from the demographics that people are most likely to purchase a second home between the ages of 50 and 60. If you examine the birth statistics, the peak of the baby boom occurred in 1960. Peak spending occurs at age 46. Consequently, the demographics suggest that the market for second or retirement homes should be hitting its peak over the next 10 to 15 years. Because of ...