Gen Y Is Here! Are You Ready? How This Affects Homes for Sale

Reblogger Shawn Maier
Real Estate Agent with Altitude Real Estate LLC

Generational selling tactics are a critical aspect for the recipe of success in any category of the sales industry, but especially in real estate. In my opinion that is. I know I would never approach an potential client with out the traits of their generation in mind. Keep the texting among the X,and Y'ers but never forget that the "Matures" (born 1909-1945)prefer a face to face and or a good ol fashioned phone call. Hope this helps. 

Original content by Lynda White

Millenials' effect on homes for sale in Louisville KYThe Millenial Generation, or Gen Y, are collectively starting to be of the age where they are purchasing their first home. This generation is quite different from the previous generations of X and Baby Boomers. The main thing that immediately comes to mind is they are tech-savvy!

It would make sense, then, that they would want to use a Realtor® that is tech-savvy, no? You may think you are tech-savvy, but are you really?

In my mind, millenials want this from their agent:

Video - Sad to say, our team gets a 2 out of 10 for this one. 1 point for creating the channel, subscribing and interacting with other subscribers, and 1 point for attempting to create a video for display. Otherwise, our YouTube presence is pitiful. I'm thinking of using Animoto or uploading PowerPoint slides of homes until we start actually doing video - hopefully by the end of this year. This one will be super easy to get our score up to a 10 quickly.

Mobile - In this generation's mind, the agent must have a mobile phone, period. They are used to having quick access to their family and friends, and expect no less from their agent. They want someone who contacts them by various means, texting being number one. They look up properties on their mobile phones. You need a mobile friendly site. Any add-ons such as Foursquare, QR codes, etc. are a plus. I will give us a 4 out of 10 for this one. Brenda texts her clients quite a bit. While we know how to implement QR codes, we want it to be a fabulous experience for our clients so we will figure it out. I am also confident that Keller Williams will provide a mobile version of agent's sites eventually. Until then, we are working to make it a better experience and hope to be up to speed within the next year.

Interactive website - We score a 6 on this one. There are lots of lead capture forms when someone wants information. I also recently tied our blogs to the site, and installed the Facebook "Like" button and Google's +1 button. I am all ears for ways we could improve on this! http://www.TheBrendaDollTeam.com

Social media - It's not so much that the potential clients want you to be socially savvy. But now more than ever it is more than likely that is where they will find you. Watch out for Google Plus to be the next big player! Don't be afraid of trying new things on social media. It's the new things that get millenials' attention! And hey! I'll give us a score of 10 on this one. I am an admitted social media madwoman.

Blogs - Gen Y loves to not only read blogs, but comment on them. Many of them have their own blogs. They want to be heard. We should listen. We should also have at least one blog geared towards them. We score a 7 on this, because none of our blogs are self-hosted yet. If they were I'd give us a 9.

Can you name some other ways?

From Inman News: "The median age of first-time buyers is approximately 31 years of age. According to NAR, the median age of Realtors is 56." Source: http://www.inman.com/buyers-sellers/columnists/berniceross/the-next-generation-real-estate-agent-teams. There is an obvious disconnect here! This is where you have the opportunity to jump in the game and be ahead of your competitors!

Other ways besides tech that Millenials want from us: personal information (not broadcasted), and instant gratification, so answer those texts and mobile messages quickly! They may even want their parents involved to oversee a housing transaction as they are not only family-oriented, but many of them are used to having their parents do things for them.

As far as the types of homes they are going for, they like condos and smaller single-family homes. They want to live in urban neighborhoods that are trendy. They like to walk or bicycle ride to get where they're going.

Agents, I would love to hear how your marketing efforts have changed as a result of the Millenial influx. I'd love to hear any ideas from consumers as well, no matter what generation you are a part of!

 

                                             -Lynda White, Administrative Manager

The Brenda Doll Team logoThe Brenda Doll Team, Keller Williams Realty Louisville East

Your Neighborhood Real Estate Specialists!

If you are looking to buy or sell a home in east Louisville or Oldham County, Kentucky, call us to set up a free consultation.

 

http://www.TheBrendaDollTeam.com

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Rainmaker
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Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Shawn-good stuff, there really differences in styles of communicating with different generations. Thanks for the break down.

 

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Oct 12, 2011 12:01 PM #1
Rainer
59,140
Charles Walk

Great post Shawn. I recently write a piece on this very subject and you are dead on. Thanks

Oct 12, 2011 01:34 PM #2
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Rainer
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Shawn Maier

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