What's a generation?

A recent free Redeye newspaper (see http://redeyechicago.com/) featured an article on differences in generations and how the generational styles vary while on the job.

Their breakdown of 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 +

The obvious differences center on tastes in TV, music and clothes.

It seems also obvious that the way they interact with one another, communication styles and work patterns play a role in how REALTORS can best connect with them. One size does not fit all. A colorful marketing brochure may meet the needs of one generation 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 (1946 to 1964) have reached their peak earning years. Their plans are now on the house of their dreams, an empty nest, or a second/vacation/retirement home. Gen X (1965 to 1977) is in the midst of their family years - therefore they are likely moving up to accommodate growing families. Gen Y (1978 to 1989) people are purchasing their first home or condo.

So, not only are their housing needs different, their approach to purchasing real estate is also different. That's a topic for another blog post.