There is so much pop-demographic-driven hype about Gen X, Gen Y and the “Millennials” (I saw that movie…cartoon family in red suits, right?) in the RE Blogosphere that it has become a bit of a cliché.
It makes sense: The industry is dominated by Boomers, and if you are a self-proclaimed RE Guru, there is no better way to scare a Boomer into downloading your eBook than to suggest that they are no longer “hip”, that the next generation is smarter about technology than they are, and that the alignment of these two trends threatens their very way of life.
Sort of like how their parents felt about the Beatles.
Then something comes along that syncs up with the hype, and it reminds me that there really is some substance behind the idea that generational demographics are at work, and that it matters.
On the Property Detail pages of our RE Search Engine, we encourage people to ask our agent a question. We have cleverly named this feature “Ask Our Agent” (AOA). This recent question is my new favorite:
“Straight up: Does this neighborhood suck? Don’t lie, I will be there soon, and if you do, I’ll know.
You can tell me if it sucks without saying, “Hey Jay, It sucks out there.” Be smart.
P.S. Don’t lie.”
This question reveals so much in so few words:
- Homebuyers really are getting younger.
- Younger Homebuyers approach home buying on the Web in the same “straight up” fashion they approach other interactions on the Web.
- Younger Homebuyers assume RE agents will lie to them.
- Younger Homebuyers assume RE agents are idiots. This one actually instructs the agent on how not to lie and admonishes the agent to “Be Smart”.
The property in question is a $105k, 3 Bdrm row house in Bridgeport, CT , so it is within reach of a younger buyer. The listing is not our client’s, so all we have on it is what came out of IDX – the base facts and the one picture (complete with garden hose and trash cans) that shows a house that looks to be in reasonably good shape, but tells us nothing else, including the name of the neighborhood let alone whether or not it sucks.
This is where the rubber meets the road for this industry right now: The Gen X and Gen Y buyers don’t have a lot of faith in us to start with, but they will engage, anyway. In this case because the agent who posted this listing has done such a poor job (confirming their suspicions about all RE Agents), that he didn’t have much choice.
How we respond to the Jays out there, when they grudgingly reach out, will determine whether they work with us or work around us. Jay wants somebody to give him the straight up truth about this ‘hood, and he knows he isn’t going to get it on TruliaVoices. He is looking for an honest response, what the authors of The Cluetrain Manifesto called “the Human Voice”:
The real thing. We have knowledge of what we do and how we do it — our craft — and it drives our voices…
The Cluetrain also points out that we are pretty good at recognizing a true Voice, and I submit that Jay probably doesn’t care much about your Blog, because, while its your words, its not your Voice, and its not specific enough. A Bridgeport Real Estate agent could Blog all day long about what a beautiful town Bridgeport is, how it has lots of parks and a great zoo, but that’s not what Jay wants to know.
Jay wants to know two things: Is anyone selling crack next door to this place he is interested in, and can he trust you to tell him, straight up (as in email me back and let me know), without you trying to get his pre-qualification letter first?
Morgan says:
Good article. The question is can you answer it in the manner he wants without violating Fair Housing law? I think that is what makes these types of requests a minefield.
September 4, 2008 — 10:34 am
John Rowles says:
@ Morgan: Ah, yes, “Fair Housing Law”.
My sense of it (and I am not a lawyer) is that the fear of running afoul of Fair Housing Law borders on paranoia, and it is used as an excuse not to perform.
I have had agents tell me that they can’t use the phrase “walk to water” b/c it violates Fair Housing Law by discriminating against disabled people, which is simply not the case.
And its not like Jay is unaware of the minefield. He actually says “You can tell me if it sucks without saying, ‘Hey Jay, It sucks out there.’ Be smart.”
IOW, “Now you know that I know that there are some things you can’t say, but that doesn’t mean you can’t be honest”.
September 4, 2008 — 10:54 am
Rebecca Levinson says:
All good points, but I would caution that lumping all Gen X and Gen Y into the same generalizations is a pet peeve of everyone I have spoken to in this Generation- and btw I am Gen X and my four siblings are all in Gen Y so who do you think I talk to?:-) This is one generalization I can make with absolute conviction.
Everyone is different and if you are entrenched in web 2.0 you tend to think everyone is, just not the case. My boyfriend teaches a martial arts class, class ranges in age from 18-35 year olds. All have varying uses for technology, in terms of how much they text, instant message, twitter, I am lightyears ahead of all of them- I am 34.
As far as Jay’s mistrust of real estate agents, where could he possibly get that from? Hmm…well I know how my parents feel about real estate agents and it isn’t favorable. I hold a very different view, isn’t that interesting.
I imagine the growth of transparency is fueled by many different generations. People tire of false promises and b.s., whether you’re 18 or 80:-)
September 4, 2008 — 11:40 am
Sean Purcell says:
John,
Really enjoyed your post. The actual mechanics of dealing with this client aren’t as interesting to me as your analysis of the client. If everyone actively listened they way you did, there might actually be more trust in the profession. Kudos.
September 4, 2008 — 12:06 pm
Keahi Pelayo says:
Given that I am on the very tail end of the “boom”, I will heed your advice.
Aloha,
Keahi
September 4, 2008 — 12:48 pm
Bob says:
I have had lawyers tell me this. It doesn’t matter whether or not its true, if you get the wrong crusader after you. It simply isn’t worth it.
September 4, 2008 — 1:33 pm
John Rowles says:
@ Rebecca: It’s hard not to GENeralize when we are talking about GENerations. That’s what makes it such seductive fodder for hacks. But you are right and I am guilty of generalizing based on one guy’s question, which is borderline hacky but at least I had one shred of evidence to go on.
You are dead on about people being tired of B.S. regardless of age. That’s what makes our choices on how we use the Web so interesting.
If you haven’t read it, The Cluetrain Manifesto (which Greg links to at the bottom right of the page) is an interesting read, even if the authors did veer off into Dennis Miller-esque rant land occasionally. It was written in 1998, so it sort of fell out of favor as it espoused big ideas that didn’t pan out instantly in the Dot-Com bubble.
Let’s just say that a lot of boxes that were carried out of busted dot-coms in 2000 had a copy of the Mainifesto in them, including mine, but a lot of what they were talking about still holds true. Looking at it again now it is amazing how ahead of its time it was.
One of the central themes of the book (which pre-dates Blogging) is that the Internet is an inherently active medium, unlike the passivity that is inherent in TV or other “old media”. The book starts with a Wittenberg-door 95 Thesis and #3 is:
“Conversations among humans sound human. They are conducted in a human voice.”
That, I think, is what Jay was looking for more than anything. Traditional Real Estate in general is as guilty as any “old economy” institution of trying to bring the happy-talk language of the brochure to the Web( “Tips for First Time Homebuyers!!” Oh, Goody!), and if there is any generalization about the younger generations that holds up its that they are very adept at telling the difference between that “human voice” and the B.S. content that is passed off as being “helpful” on the Web.
September 4, 2008 — 1:36 pm
John Rowles says:
@Bob: “…It doesn’t matter whether or not its true, if you get the wrong crusader after you. It simply isn’t worth it.”
When it comes to substituting “near water” for “walk to water” to avoid giving a wing-nut with an axe to grind an excuse to hassle you, I can see the logic in that.
What I have a problem with is using fear of the PC police as an excuse to skimp on content, or as an excuse to delete a question like Jay’s instead of answering it.
September 4, 2008 — 1:53 pm
leanne finlay says:
Hey Jay, it probably DOES suck. Let’s schedule a meeting, go see it in person and talk about whether you want to work with me as your agent or not.
And don’t lie to me. Be honest, you really do qualify for a loan, right?
P.S. Don’t be surprised when you meet me. You’re gonna like how I do business.
September 4, 2008 — 2:29 pm
Bob says:
I have a young client who is is very smart, and he fits this to a tee. The thing to realize is that smart young buyers seek knowledge. Ask questions, fill in the gaps in their knowledge base (including why you cant answer some questions due to Fair Housing laws, not to mention that “does this suck” is a subjective), and you will have a client who will be a raving fan.
My biggest tip for these clients – Be prepared to info dump.
September 4, 2008 — 2:55 pm
myrtle beach rentals says:
Ive had clients ask tough questions like that before for rental properties we have. It is difficult to answer. I sometimes try to avoid the question, but I have told people before that I have driven through the neighborhood and I do know what all the price includes, but I have not spent enough time their to know any of the residents. But if they are concerned about crime etc, the best thing to do would be to call the local police departments and ask if there have been any recent break ins or arrests.
September 4, 2008 — 6:25 pm
John Rowles says:
@Leanne: That’s just about a pitch-perfect response IMO.
@Bob: One of the talking points about these Generations is that they are the original latch-key kids. They are used to figuring things out on their own, and that includes assimilating a lot of info. The last thing you want to do is condescend — just give it to them. Good on ya!
September 4, 2008 — 6:26 pm
Don Reedy says:
Bob hits it out, vis a vis Fair Housing, with his comment. Give em the facts, just the facts, mam, but give it to them like you’re supposed to.
“Can’t tell you if this neighborhood sucks (Fair Housing laws and all….which I pay attention to because they are important to me…and to you), and hey, don’t really know if this home would fit your “suck” definition. Let’s go see it, okay? You’re the best, and only, judge of what your next home and neighborhood should look like. I never lie, and that said, I’d really like to see if I can help you.”
September 5, 2008 — 8:33 am
Suzanne Stephens says:
I love Leanne’s response! It is so important to be able to speak the same language as your audience. Now, if John could only train those folks in Washington DC to listen and respond so well.
September 5, 2008 — 9:26 am
Carolyn Gjerde-Tu says:
I wonder if the “kids” really are different or if they just express themselves with more frankness. My clients who tend to skew younger rather than older but maybe I’ve been lucky but as a rule they seem to trust me pretty early on in the process.
September 6, 2008 — 11:51 am
jesse says:
“Can’t tell you if this neighborhood sucks …, and hey, don’t really know if this home would fit your “suck” definition”
That’s a bit of cop out. The correct response would be for them to define “suck” in measurable terms. Suck is such a qualitative measure; I would have expected much more quantitative questions from a W2.0 geek.
Likely “suck” is actually a subtle test to see if you can figure out what “suck” is to them. Think carefully before answering because your answer will be marked. Some of the nasty questions we used to get in university often required asking the prof for clarification. The bastards seemed to take pleasure in seeing students squirm in ambiguity.
September 7, 2008 — 8:16 am
jaybird says:
Love these gen x buyers. Once they see you’re totally real/brutally honest+an absolute authority on all things RE/local they will be your greatest fans and future referral base.
j
September 10, 2008 — 1:54 pm
Jennifer in Kentucky says:
Excellent insight on what the up-and-comers as I like to call them, are wanting. Primarily it seems to come down to 2 things: candid/frank/honest answers to their questions, and actually demonstrating that you do have value to represent them in a transaction.
December 16, 2008 — 12:52 pm