Working with the different Generations

My wife was called upon to prepare a presentation for a state convention and she asked me to help.  The topic they wanted was "Working with the Different Generations".  This involves technology, marketing, understanding where the money is coming from and proper manners when dealing with the different groups.  First is to understand the groups and who they are;

Silent Generations

Born between 1925 and 1945 The older generation is the "Silent Generation".  This group is comprised of people born before and during World War II. Characteristics, These are the Grandparents, they are probably downsizing in their life.  Moving closer to children, relocating to a different climate, fulfilling lifelong dreams of a lifestyle and location.  They have plenty of money!

Baby Boomer's

Most of the "Baby Boomer's" are in the age range of 46 to 55.  Characteristics, These people are in the prime income producing time of their life.  They are moving up in homes and buying second homes in desirable areas.  This group makes up a large percentage of investment property buyers as they start thinking about income needs during retirement. They have money!

The "X" Generation

Most "X" Generation members were born between 1962 and 1986.  These are first time home buyers.  In some cases these are investment buyers, looking for a better way to support themselves.  They stand to inherit from their Parents (Boomer's) and Grandparents (Silent) so they will have money and their highest income years are still ahead of them.

Generation "Y"

Born between 1981 and 2000 Generation "Y" has always had computers and can learn rapidly.  They are a do it yourself generation, they don't read newspapers and can find anything they want to know on the Internet.  Characteristics, Buyers and Sellers from all generations can fit into this category depending on their outlook on life.  Reaching this group is done most by a strong web presence.

"Net" Generation

This is more of a subcategory then a generation.  This group started in 1977 and continues today.  These are the folks that are driving how we do business today.  Instant results, open MLS's, pushing the REALTOR to build better more reactive websites and Smartphones. Email is expected to be more like instant messaging.  This group wants to work with agents who have all the abilities to respond to them in a way they prefer.

We have written just short of a book about this, but understanding who you are working with helps you treat them the way they want treated.  So we don't turn this into a 4,000 word blog boring most of you let me tell you one short example on how to work with these groups.

Examples of working with the different Generations

You are with a client and the phone rings;

With the Silent Generation you don't dare answer! With Baby Boomers you ask permission if you can answer!

With Generation "X" they ask you "why don't you answer?"

With Generation "Y" they will have an interactive communication device and expect you to read and respond to the email or instant message while speaking to your incoming call.

Check out our website www.DickBetts.com for more information on this course and many others.