When working real estate leads its important to understand the behavior of different demographics and generation, younger people want to communicate differently than people of older generations. If you can’t catch them on the phone, it might not be you, it’s them. Here is some great information on the youngest demographic of buyers according to Realtor.org
This generation, also referred to as Millennials, now numbers around 80 million U.S. residents. And many of them are just a few years away purchasing their first home. How can you position yourself as the real estate professional they want to work with?
They Want It All — Now
Austin, Texas-based Laura Duggan — an early adopter of texting — learned the value of communication while selling Jason Dorsey, 32, and his wife a home two years ago. Phone messages Duggan initially left for Dorsey were not immediately returned, losing valuable time in a market where hot deals on smaller-size homes are scooped up within days. Dashing off a text message, however, yielded a lightning-quick reply from Dorsey.
“They want to communicate differently than a lot of my other clients. Gen Y wants texts, not even e-mail,” says Duggan, broker-owner of West Austin Properties, who has 30 years of experience selling homes.
“Gen Y is about instant gratification: If we can’t see it on our phone, it doesn’t really exist,” explains Dorsey, who is a frequent keynote speaker on Generation Y. He’s consulted for companies like Kraft, GE, Frito-Lay, and McDonald’s. While Dorsey and his peers can easily navigate the Internet in search of data, they often don’t know how to make sense of it. Still, “it’s critical that REALTORS® position themselves to educate us and not treat us like children,” says Dorsey. “If we don’t feel like we can ask questions and be a part of the process, we’re not going to be interested.”
The Right Information
Real estate pros can help put information about a listing into context, such as how property taxes differ from a nearby city or interpreting neighborhood crime statistics, he says.
“This is a generation that takes advantage of information. They come in [to a home showing] knowing everything about the property,” says Nashville-based consultant Amy Lynch, who works with companies that want to motivate Generation Y.