Selling to Gen X or Y

Home buying and selling to Gen X or Y

According to the National Association of Realtor's 2009 Profile of Home Buyers and Sellers, nearly 50% of home buyers are between the ages of 25 and 49. Typically, this age bracket falls into two generational categories with the older group referred to as Generation X and the younger as Generation Y.

I started selling real estate when we carried around a big thick 5 # book that was 2 weeks old.  We weren't "allowed" to loan out our mls book.  Lol...  Boy has it changed...  Some old dogs or as I refer to them as "Gate Keepers" don't like all this technology but it has freed me up so much, how can you not love it?

We were "required" to wear full suits and drive big fancy cars.  Remember the gold jackets?  One broker/owner told us when our 2 year old Mercedes in her parking lot needed replaced.  (True story.)

Times have really changed in real estate.  It is ok to drop the expert approach. These generations are under the impression that they can do the majority of it themselves.  They usually have done their research before they have their first contact with me. In fact, they may even know more about me than I want to believe. On average, most Generation X and Y homebuyers search online for up to 18 months before they even consider contacting a real estate agent. I support them by providing helpful links online, industry stats and other information.  I ask them to try me out as their "guide" while doing their own research.

I have found Generation X doesn't approach the home buying process.  They attack it by surrounding themselves with as much information as possible. Since they've grown up in a technological world, they are used to adapting to changes in technology and will use these resources to learn as much as they can about the home buying process. They come to the first meeting armed with questions they want my opinion on, answers they have already found on the web and a list of properties they already want me to show them. My job with this Generation is to simply guide them to the correct information.  They want to maintain anonymity as long as possible.  I hope they will find ME online while they are researching. I try to advertise myself and my listings online locally.  (If you see somewhere I am not shoot me an email.) My goal is for them to continually see me while doing their research.  I hope that they will feel more comfortable in contacting me when they are ready to drop their anonymity and continue with their next step.

Generation Y make their decisions socially. They will consult their friends and family on every decision and usually ask these opinions via mobile phone and by sharing on social media sites. They seek out as many opinions as possible in order to make the right one. I encourage them to seek other opinions. In reality, I am just another one of those opinions. My opinion is backed up by many years of industry and community experience.  However, it's important for members of Generation Y to hear that same opinion shared by many others.  I try to give advice, but not too much advice.  While members of Generation Y seek information and advice from their peers, they do not like to be constantly pestered by someone online. Too much information, especially from someone that they barely know, will result in a negative reaction.

I'm sure you get the idea by now, but Generation X and Y actually shop for homes online in the same way they shop for a new shirt, book or cell phone. I include as many pertinent photos as I can of the homes I am selling.  I feel the more information I can provide up front, the better prepared the home and my company will look in the eyes of the viewer.

These generations will also educate themselves on current industry topics.  If you have state of the art products or "green initiatives," the listing needs those items reflected.

Additionally, you may also see more non-traditional family types interested in purchasing homes. It's not too uncommon in Generation Y for groups of friends or multiple families to be interested in purchasing a home together.

I may be an expert in real estate but truthfully these generations are not looking for an expert. I feel it is more important to listen and understand these generations so that I can guide them successfully through the home buying and selling process.

If you or someone you know is researching, or ready to make a decision, contact me.  I would love to hear from you.  I want the opportunity to earn the business of all our ever changing generations.