Bridging the Gap
I read an article in Inman News (@InmanNews) today that said this (emphasis added):
First-time homebuyers accounted for half of all home sales from July 2009 through June 2010, according to a National Association of Realtors survey of buyers and sellers. That’s the highest share of first-time-buyer purchases in the history of the survey, which dates back to 1981.
A 22 Year Gap
I also read that the median age of first-time home buyers is 30.
And I just Googled the average age of Realtors and discovered it is 52.
So, there exists on average a 22-year gap between half of the people buying homes right now and the population of Realtors selling them those homes.
I find that very interesting….
Challenges & Questions
Given all the technological and cultural changes that have taken place in that 22 year gap between these populations – the true ubiquity of the web, the rise of Social Media, radical changes in preferred methods of communication – phone vs email vs texting vs Social Media, etc – a few questions come to mind:
- What are challenges that might exist for a 52-year-old Realtor population attempting to service a 30-year-old clientele?
- What is that 52-year-old Realtor population doing to educate itself on better connecting and serving that 30-year-old clientele?
- Where does that 30-year-old clientele get its real estate information?
- Where does that 52-year-old Realtor population market its real estate information?
- What opportunities exist for smart Realtors to leverage this “22-year gap” reality?
What do YOU think?
Photo courtesy of aiinsite.edu
Comments feed
one word answer to all of the above: relevance. are you relevant to the audience? social media never has, nor will it ever be, the “be all and end all” in your business. however, most of the people in my generation (i’m 32) will not be looking for their next agent at chamber of commerce events. if my generation is not your target audience, then online marketing is not as important. if you do not care to capture this audience, don’t half-ass attempt an online marketing scheme.
however, you will not be relevant to this audience, in general, without an online plan. like everything else, people can tell if you are working at it or not, so just be real. real relevant.
interesting post Michael, i hope it reaches the right ears!
homeloan_ninja´s last [type] ..nwbuzz 11–5-2010 STHS winner tim bledsoe daylight savings time
Jason,
Well articulate. I completely agree with all you’ve said.
The sad part: the very people who MOST need to think about my questions – and your comments – are the people LEAST likely to find this post.
Ahh, the conundrum…
Thanks for your comment, brother…
Best,
Michael
I’ve been saying that a lot lately. Even the folks that show up at events like Agent Reboot don’t hear it, or at least well enough. We have a saying in my mortgage company though:
“Attrition is a beautiful thing”
Always a pleasure to read from you and Todd.
Take care
homeloan_ninja´s last [type] ..mortgagefaq what does the lender need from me
Michael,
1. The challenge is to understand and provide the level of service and the method of communication to the Client you are serving. The old days of trust me I am the expert cannot be relied upon, you need to provide 3rd party evidence of your claims. The best question you can ask before you start the relationship is how they want to communicate with you and what there expectations are?
2. Far too many REALTORS® continue to be resistant to change and want to rely on habits of days past. For instance rather than embrace updated MLS systems, RPR, and other tools, it is easier to ignore their importance.
3. Google, Zillow, Trulia, REALTOR.com, friends and family, and peer groups.
4. Far to many are using outdated, inefficient, and expensive methods.
5. It is getting easier for the agent willing to change with the time to stand out from the wallpaper. Prospects have the ability to watch us way before engaging us to determine we are what they are looking for in a REALTOR®.
Jeffrey,
As always seems to be the case, we agree.
At some point, we’re going to have to end up on the same team! LOL
Thanks for the comment, my friend.
Keep on #CRUSHING!
Best,
Michael