OMG Millennials!
You know, those 75 Million people born 1980-1995 – the largest generation in the United States – who are all the buzz in real estate?
We have so. many. questions.
Why won’t they put their phones down?
Why aren’t they in a hurry to buy a house like were?
Do they believe in the American Dream?
How do we communicate with these creatures?
(Spoiler alert: Yes, Millennials are buying houses. And yes, they are waiting longer.)
The part that seems lost in the buzz of questions is that Millennials are people. Regardless of the generation, experiences and events shape our lives and inform our points of view. New behaviors and preferences develop with each generation. People change. After awhile, these things go from new to normal.
Millennials are the leading indicator
Take social media, for example. In 2006, 41 percent of American adults under 30 used social media, but only six percent of those aged 30-49. It was a new thing and the youngsters owned it all to themselves.
Jump to 2014. Youngsters were still the most likely to use social media, but 77 percent of the 30-49 year old group had hopped on board. Social media went from new to normal.
Do you have full-grown adult clients who will only communicate via Facebook Messenger? I do.
Do you see clients and REALTORS alike rushing to social media for solutions 24/7? I do.
In other words, those youngsters were the leading indicator of where the whole world was going. In what other ways are they a leading indicator of consumer behaviors and preferences? (immediate responses, video, crowd sourcing, transparency, and ???)
It’s not just about Millennials. Millennials are people. It’s about everyone.
Take Action – Millennials and future business
- What would you do differently in your business if you got an eight year (one year, one day) head start on where your clients were/are going?
- Look for what people doing differently now that signals a need to adapt your business in order to best serve the needs of future clients, regardless of what year they were born.
- Change something today. ←