Comments on: GenY – Turning the Corner in Real Estate

By: Faina Sechzer

Faina Sechzer — Sat, 28 Jun 2008 23:05:22 +0000

Demographics point out another group which would become influential in terms of real estate – Millennials (born 1970-1995). Their numbers will peek by 2015 and the ability to relate to them in their “language” would be very important.

By: Jen

Jen — Thu, 03 Apr 2008 19:19:56 +0000

Does anyone know the average number of residences people have from ages 19-35, rent versus buy, roommates, etc.?

By: Jonathan Dalton

Jonathan Dalton — Mon, 04 Feb 2008 19:45:07 +0000

> My point in what you highlighted is that more and more people are catching on to this implied “new way” and yeah, it looks new. I think we all call this 2.0.

Understood. But there’s far more to 2.0 than one company surviving only on the basis of the VC that has been pumped their way. I don’t hold Redfin up as a 2.0 success story.

By: agentgenius.com- national real estate opinion column » Blog Archive » The Secret Life of a “Generation X” Consumer … My Story

Mon, 04 Feb 2008 17:16:41 +0000

[...] all the hullaballoo surrounding Generation Studies in relation to real estate in recent Gen Y articles here, on Agent [...]

By: Benn Rosales

Benn Rosales — Mon, 04 Feb 2008 16:07:50 +0000

Ines, I am so glad you picked up on that. We’re going to break it down even further than that…

By: Benn Rosales

Benn Rosales — Mon, 04 Feb 2008 16:00:38 +0000

Really? Has their market share improved? Are they doing anything more than imitating the great discounters and rebaters of the past, except with a really neat website?

its the really neat website, venacular, and social media that we’re actually talking about- how you’re marketing, and where you’re blowing your marketing cash. The idea that 77% of the consumer experience is online is just a statement, our goal is to try to break that down to how your marketing touches that 77% in a way that pulls traffic in. My point in what you highlighted is that more and more people are catching on to this implied “new way” and yeah, it looks new. I think we all call this 2.0.

the idea of the wide net approach is costly, and expensive, so the goal was to try to find out just who the 77% is. we’re not breaking ground on anything new here, we’re trying to understand what what 1000s of marketing people around the world are saying and how it will apply to our marketing strategies in real estate. there are just to many folks begging why in the hell are they bothering with social media, and it doesn’t have to be that way…

follow up posts forth coming.

By: Jonathan Dalton

Jonathan Dalton — Mon, 04 Feb 2008 15:20:13 +0000

> Entities in mainstream media such as the New York Times and others have already injected companies like Redfin into the Xer’s consciousness, and guess what, it’s resonating.

Really? Has their market share improved? Are they doing anything more than imitating the great discounters and rebaters of the past, except with a really neat website?

Some will argue that every generation looks at future generations with a “bah humbug, we were far more sophisticated, worldly, pick-a-word” kind of view. Personally, I look back and realize that when I was the same age as the folks in Gen Y are now, I didn’t know nearly as much as I thought I did. What’s the old line? The older I got, the wiser my father became? You’ll object now and in 10 years look and say, oh … wait …

Hinging internet marketing on one particular generation is short-sighted. But again, I’m only a guy who successfully markets to retirement communities online. So what would I know …

By: Ines

Ines — Mon, 04 Feb 2008 14:54:40 +0000

The part I liked most about this post is “If you truly believe that GenY has no real new expectations of you, then why do you blog? If you truly believe that GenY doesn’t get their information online from peers using social media, then why do you Twitter? If you truly believe this new generation Y doesn’t come complete with its own culture, then you are wasting your time online.”

That really says it all – by making believe that you don’t understand and you don’t believe in generational studies, you are really denying yourself of a marketing truth that is more powerful than words.

By: Benn Rosales

Benn Rosales — Mon, 04 Feb 2008 06:18:20 +0000

Scott, we’re curious too, we’re actually hoping to get that answer.

By: Scott Rogers

Scott Rogers — Mon, 04 Feb 2008 06:15:00 +0000

Glenn’s data remains a bit nebulous — I’m curious how the 90% of customers under 45 years old actually breaks down. Are most of them Gen-X consumers (age 30-45), or are there a decent number of Gen-Y consumers?

Glenn seems to be implying that Redfin indeed appeals to Gen-Y consumers (which I would imagine to be the case), but when he backs it with the under 45 data, I’m wondering whether what the numbers look like for under 30 years old.