Buyers aged 37-51, generation X, make up 28 percent of recent home buyers. Here are six tips to help you serve Millennial and generation X clients. Generation X has seen it all. Millennials are all about technology. A recent study by Wakefield Research group has demonstrated that 86 percent of millennials are willing to pay more to secure a home with smart technology built into it and that they would pay up to 20 percent more each month just to have it. When serving millennial clients, be sure to communicate via text and email. In fact, most of my millennial clients communicate almost entirely over text. Millennial clients are focused on values and making a difference in the world. My generation X clients are very family-oriented. For example, when generation X clients are looking for a home, they are typically interested in larger homes with room for family, security systems to protect their family and safe, family-friendly environments.
According to the National Association of Realtors, the last four years of reports have shown that buyers 36 years old and younger (millennials/gen Yers), are the largest share of home buyers at 34 percent. Buyers aged 37-51, generation X, make up 28 percent of recent home buyers. With millennials quickly becoming the largest segment of consumers in general, and gen X having more spending power than any other generation, representing 31 percent of total U.S. income, according to Ad Age, it is important to understand their differences and motivations so you can properly serve them.
Each generation requires its own unique focus. Here are six tips to help you serve Millennial and generation X clients.
Millennials appreciate succinct communications.
According to a recent study by Microsoft, millennials lose focus after about 8 seconds. They are a highly digitized generation, and accustomed to instant gratification. When serving Millennial clients, keep your message short, sweet and to the point. The last thing you want to do is bore your millennial client.
Generation X values authenticity and tonality.
Generation X has seen it all. They have grown up with the digital age, and now they run the C-suite. When serving generation X clients, keep in mind that you’ll have to overcome their inherent skepticism. Honesty is always the best policy, and be prepared with facts to back up your statements. Generation X clients are highly educated and will expect you to be an expert in your field. When serving Generation X clients, always keep it real, honor all of your commitments and demonstrate integrity in all that you say and do.
Millennials are all about technology.
Millennials are more engaged with their devices than any demographic. Technology reigns supreme. They want it in their palms, and they want it in…