By Michelle Flaherty Philbrook
A while back, I got a call on a condo listing of mine. The potential buyers were a retirement-age couple looking for a new place just large enough for their kids to stop by for a visit, but just small enough that their fledglings couldn’t fully return to the nest.
I showed the condo, and when it wasn’t a fit, I brought them on as buyer clients. After we became more comfortable with each other, this couple confided in me that they initially thought I looked “way too young to be [their] agent,” but that in the context of having met other agents both recently and over the years, they felt I was uniquely equipped help them meet their goals. I think the reasons we were so compatible can be applied rather universally, so if you don’t mind entertaining the occasional demographic stereotype, read on for how Gen Y traits can uniquely serve some common Baby Boomer needs.
Baby Boomer with a Sense of Urgency? Meet Gen Y with Fast Texting Fingers. As a general rule, most people don’t become more patient with age — a fact of life that works in favor of agents raised in the age of text messaging and real-time e-mail. When these buyers inquired via e-mail on my condo, I called them right away. And when the property didn’t work for them, I got their search set up the same day. They told me later that none of the other brokers came close to that level of responsiveness.
Baby Boomer with Intelligent Questions Based on Experience? Meet Gen Y with Fab Research Skills. The way that I was able to quickly aggregate property information from multiple (and at times obscure) sources beyond the MLS really impressed my boomer clients. The 2010 Census confirmed that the percentage of post-secondary graduates among the U.S. population is at an all-time high, so it follows that most YPNers can likely offer extensive research skills. And in an industry like ours with ever-changing guidelines, best practices, and technology, it is more valuable to be a quick study than a deep topic expert.
Baby Boomer with Very Specific Needs? Meet Gen Y Power Networking: Continue reading »
By Chris Nichols
I just got back from the 2011 NAR Issues Conference in San Juan, Puerto Rico and wanted to share with the YPN Lounge some of the highlights of this wonderful event. This is, by far, one of my most favorite meetings of the year. It was exciting to see a good number of YPN members in attendance.
The meetings kicked off with a welcome by NAR President Ron Phipps, reminding us that “Home Ownership Matters,” with information and statistics relating to his recent testimony at the capitol. Real estate represents 15 percent of the U.S. gross domestic product, and touches almost every aspect of our economy.
We then had a fascinating look at the recent election results and how the current polls are trending with Bill McInturff and Peter Hart. They pointed out that this era will be defined by a massive shift in power from the states and institutions to the people and communities. Confidence in Congress is at 9 percent, and it has been a decade since the majority of Americans have felt the country is heading in the right direction. I did find it amusing that one poll found that 29percent think the economy will get better, while 29 percent think it will get worse… anyone got a coin? Another poll found that 21 percent of Americans believe that their home value is increasing, while 18 percent believe it is decreasing.
Bethany McLean, author of “All The Devils Are Here,” spoke to us about the financial collapse and her inside look at the players involved. Her research into this subject matter was very intense and she had amazing things to share with us. I highly recommend you read her book. She did leave us with a glimmer of hope after she shared so much negative information, when she told us that bad business tends to get the spotlight and press, but that there is much more good business outweighing the bad. Continue reading »
By Brian Copeland
I’ve been a part of many referral organizations in my short real estate career. Some have been a wasteland of nothingness. One or two others have been the Promised Land of Income. In my time, however, I’ve never seen a new force of referral energy emerge on the scene until now. The YPN referral network is booming.
Daily, yes, daily, I receive word of someone closing deals together across the miles. I’m seeing praises on facebook walls about a client well-served by a network member. I’m hearing story after story of YPNers cooperating from coast to coast. Two questions: Is YPN the next big referral engine? Why is this medium for REALTOR®-to-REALTOR® referrals growing so much?
The first answer is easy. Yes, YPN is the next big, if not the current, big organic referral engine, without question. More importantly, I think we need ourselves and our surrounding organizations to understand why.
1. I’ve honestly never been a part of such a close-knit group of people. Even as a former fraternity president and director of youth leadership programs, what we have is rare. Our generation has the knowledge and power to leverage strong, deep relationships that begin either in person or online and continue to grow in media like Facebook, Twitter, YouTube and Foursquare. While other groups are scratching their heads, criticizing “all the computer play” as a fad, our YPNers are oblivious to the confusion. We’re just roller skating along enjoying the moments.
2. Our demographic is hot in real estate sales. Gen Y and Gen X buyers and sellers are the majority of the market. While many of them still work with agents out of our generations, many are now comfortable with the level of professionalism we all continue to bring to the table. No longer is the argument, “Ah, they’re new and too green to the business,” valid. We are an arsenal of smart, hard-working, ethical REALTORS®. Continue reading »