Generational differences

Because it was so cold (0°) in Chicago today I did not ride my bike to work but instead took the subway. I grab the free Redeye newspaper that is published by the Chicago Tribune. The paper is a quick read and great for my 15 minute ride.

Today edition featured an article on differences in generations and how the generational styles vary while on the job. The generations and approximate ages were:
– Baby boomer – born 1946 -1964
– Gen X – born 1965 to 1977
– Gen Y – born 1978 to 1989
– Millennial – born 1990 +

These groups have more then different taste in TV, music and clothes. The way they interact with one another, communicate and work styles play a role in how you the REALTOR can best connect with them. One size does not fit all. A colorful marketing brochure may fit one groups’ need while another may want to gather opinions on a possible new neighborhood from others already living there by visiting a blog. And each is likely looking in a different sector of the market.

Many baby boomers have reached their peak earning years. They are now thinking of the house of their dreams, an empty next or a second/vacation/retirement home. Gen X is in the midst of family years – so many are moving up to accommodate their growing families while many Gen Y’ers are purchasing their first home or condo.

So, not only are their housing needs different, their approach to purchasing real estate is also different. More later on methods to different generational groups.

  1. Hmmm. I’m a Gen X’er. I never thought of myself that way. But the descriptions all fit in discussing the ways I communicate.

    Light phone, heavy internet/email, next to no text messaging.

    However, we’ll all need to adapt to suceed.

  2. I’m a boomer. Forget about the house of my dreams. I’ve figured out what I need to live, done my discounted cash flows, and am counting the years until I can retire into a genteel retirement someplace warm with 4 seasons every year.