Letters to the Editor: July 2008

 Print Article

The Real Gen Y. Open Houses Are Worth It.

“What Exactly Is Generation Y Looking for in a Home?”
rismedia.com,
May 30, 2008

Stop Stereotyping!

I was startled and offended by your recent article on the “Gen Y Generation;” it is this type of stereotyping that makes younger clients dislike Realtors.

As a Realtor in her early 30s, let me address one of the sweeping statements in your article on young home buyers: “They don’t believe in paying their dues at work. They want respect at the office now and if they don’t get it, they’ll move on. Similarly, they don’t wait to buy homes.”

Wow. In one sentence, you’ve dismissed an entire population of people as lazy and unworthy. Let me offer another theory: “They” don’t have the job security, guaranteed retirement accounts, pension plans and employer loyalty that previous generations enjoyed. A great number of people in this age group are scared to death that their company will go under, their jobs will be outsourced, ruthless executives will squander their 401(k) holdings, and their stocks and savings will be lost.

Also, consider the downturn of employer loyalty. Gone are the days of job security. Gone are the days of “rising through the ranks.” (How many times has your bank been bought out and the teller staff dismissed?) Generation Y didn’t create the current business model; they simply respond to it. Gen Y isn’t “demanding” respect; they are creating value for themselves so they won’t be replaced by the first person willing to do their job for less.

Get past the clichés! Stop and really look at people in this age group: traveling for work; some pulling 60- and 70-hour weeks; trying to spend quality time with their children as they begin their families; engaging themselves in civic and charitable causes. Maybe I know a lot of overachievers, but I don’t see a lot of laziness here. They have to work hard-gas prices are up, daycare costs are up, grocery costs are up, college costs are up-and we’re simultaneously repaying our own college loans and saving for our children’s educations! Retirement? Ever? Don’t bet on it.

The article states: “They don’t wait to buy homes.” If a 30-year-old pharmacist makes six figures and has a good-sized down payment, exactly how long do we want him to wait to buy a home? I love those clients. I’m glad they are not waiting to buy homes.

Stereotypes are dangerous. Condescension is exactly why some younger home buyers do not trust Realtors. Gen Y reads, too. They know how they are portrayed by the media. Articles like this dismiss them as unworthy of our effort. Remember, there is also a stereotype of real estate agents: money-hungry, unethical and self-centered.

Take a fresh look at younger clients. If you don’t respect them, fine, but remember that they will be providing Realtors with jobs and commissions for 40 or 50 years to come. I want as many of them in my sphere as I can get.

Vaiden Taylor, ABR
Coldwell Banker Wallace & Wallace, REALTORS®
Knoxville, Tennessee

“How to Never Do an Open House Again”
rismedia.com,
June 11, 2008

Still Worth It!

So what if only 1% of listed homes are sold directly from an open house? The agent has hardly wasted his (or her) time there. He (or she) has:
• demonstrated activity to the neighbors
• had an opportunity to meet future clients, particularly future sellers
• found a way to spend what would have been generally idle hours on a Sunday afternoon

These are hardly worthless accomplishments. The open house is not a marketing plan; it is only a small part of one. And if the author thinks that is not true, ask him to examine the sales stats of agents who hold weekly open houses. I think he will find a strong correlation between the two.

David Legan, GRI
Prudential Preferred Properties
Shreveport, Louisiana

Not a real estate professional? » From buying & selling to home improvement, click here for all things real estate.

Sunday, March 21, 2010