Keeping Up with Consumer Trends: Status Seekers

Being aware of current consumer trends in the real estate industry plays a big part in creating a marketing strategy that is effective, and thus, helps grow your business. But before you can spot these trends in the housing market, you must first understand the social movements that cause them. With that said, we're highlighting a consumer trend that many of you are already familiar with – one that is starting to influence many of your clients when looking for a home - status seekers.

According to a recent Trendwatching.com report, status seekers are those who want to be recognized for their possessions and that strive to be at the top of the proverbial "social hierarchy." They have always focused on purchasing unique, expensive and trendy products to set themselves apart from the rest of society.

Although they still seek these types of products, many are now looking for guilt-free status symbols that will allow them to clear their conscience of the damage done by their consumption (toward the planet, society, or themselves) and still deliver a status boost.

Real estate professionals need to be aware of social trends like this because they usually affect every aspect of a person's life, especially their home. Whatever the most current style might be, status seekers will want their home to complement it. Millennials are the new face of the housing market and are also the most likely to conform to these ever-changing trends, so there will always be something cutting edge that they look for in a home.