Society is very diverse in many aspects. Diversity doesn't only encompass different cultures; the term also refers to different generations. People are living longer and, as a result, society is now composed of more generations that tend to have different traits and communicate differently.
REALTORS® need to have a keen understanding of each generation in order to relate to clients and other agents. The method of communicating or marketing to each generation can affect a transaction, according to Tracey McNeely, a REALTOR® WITH Keller Williams Realty. McNeely shared information about generational marketing with members of the Silicon Valley Association of REALTORS® at a district tour meeting last week.
McNeely identified the following four generations in today's society and shared their general characteristics and communication style.
1. Veterans, born 1922-45
Born during the Great Depressions and having experienced war, this generation respects authority and is frugal. They are conformers, disciplined and never buck the system. During their time, the traditional nuclear family was still intact. They are savers and like to put away cash. They work hard and adhere to "duty before fun." This generation likes to communicate one-to-one, and prefer to formally communicate via official memo or mailed letter.
2. Boomers, born 1946-64
The baby boomers are an optimistic lot, said McNeely. They are involved, but casual ("Call me anytime."). It is during their time that the nuclear family began to disintegrate. This is a generation of workaholics, but boomers also crusade for causes and like to question authority. Their lives are broadened beyond the scope of the family. They have the "buy now, pay later" mentality. They grew up with the rotary and touch phone, and prefer to communicate in person.
3. Generation X, born 1965-1980
McNeely described Generation X as "skeptics," who like to have a lot of fun and informality. She said many grew up as latchkey kids, with both parents working, or they are a product of a single-parent home, where the sole parent had to work. They grew up with the touch tone phone, and are more comfortable with answering machines and voicemail. It's perfectly fine with them to leave messages on their answering machine. They screen calls and for them, it's "Don't call me after work." They like to eliminate tasks. They are self-reliant, and like prompt action. They have no patience, and prefer to communicate immediately.
4. Generation Y Millennials, born 1981-Present
Millenials are filled with realism and confidence. Their nature is illustrated by their love for extreme sports. McNeely said this generation is the product of merged families, similar to the popular television show "Modern Family." They are entrepreneurial and multi-taskers. They are tenacious, oriented and tolerant. They are very adept with cell phones, communicate via voicemail, email, Facebook, Skype and text messaging. They also like to chat online.
"Remember, when you have another agent on the other end, try to look at their generation and adjust your way of communicating," McNeely told REALTORS® . The same is true when communicating with buyers and sellers, she added.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
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