Time moves fast, and business has to move on to the next big thing.
A significant portion of the nation’s 67 million Baby Boomers will soon move into more easily managed rental units, or at least downsize – taking away the sweetest real estate plum of the last few decades.
Generation X – ages 40 to 60 – is still reeling from the fallout of the Housing Crisis fiasco.
For real estate agents, it only makes sense to move on to the next generation in line – the 80 million Millennials.
Open houses are skewing a little younger as the Housing Crisis fades further into history, and potential buyers are working through debt, down-payment and doubt.
What’s the best way to serve up their slice of American pie?
Surveys say straight and right out on the plate. They want clear, direct information, and they don’t like the hard sell.
Don’t be fooled into thinking they’re old school, though. This cohort is as different from their predecessors as can be.
They’re highly educated and remarkably optimistic about the future. But above all, they are connected.
They are not about to live without mobile devices – and can’t comprehend anyone who resists technology.
If need be, take a few courses about how to effectively use email, texting and cell phones. If not, you’re going to look unprofessional.
An outdated website is going to get passed over. These people use touch screens, texting and HTML code as second languages. They know an old website when they see one. Forget about asking them to register for your site – you’ll lose them for sure.
With positive job growth and a stable economy, Millennials have been forming households in record numbers. Even stubborn wage growth is starting to stir. That helps soften the sticker shock from rising home prices.
Some analysts feared Millennials might never get here – too traumatized by watching their older siblings and parents take a Housing Crisis beating. Then something happened – they grew up.
Senior Loan Officer