Statistics tell us there are four generations in today’s market place that are actively buying and selling properties. This generational dynamic requires sales professionals to become more aware of age preferences and core values as we strive to bridge communication gaps and improve our services.

Our newest challenge is to meet this variance in demands by addressing each group’s respective communication and service preferences using both traditional and electronic channels.

Using Technology

According to Harvard Business Review of May 2010, Millenials (the youngest segment of our generation) are emerging as a significant section of our work force and consumer segment.

In order to connect with this large buying segment, using electronic communication and web services will be crucial to engage today’s faceted consumer, but using the channel of their own preferences to connect.

According to studies by Futures Consulting, the four generations representing these age groups are:

Civic: 62+
Boomer: 43-61
GenXer: 31-42
GenY/Millenial: 13-30

In order to engage with each group, we must deliver their brand of better service, using the technology channels they prefer to insure connection and ultimately conversion.

Servicing These Consumers

• Starting with the oldest group, civic consumers have always demanded respect, especially from younger service providers. To create a superior real estate experience that resonates with Civic consumers, we must infuse respect; from the language we use, to our style of dress, how we communicate with them and every aspect in between. Agents who master the “respect factor” with civics stand to gain significant competitive advantage. For this group, personal communication is often preferred, and technology plays a lesser role in meeting their service requirements.

• Baby boomers value a “winnable” experience; to overcome obstacles and feel as though they conquered and won. Agents who can promise and deliver a victory, like finding the property of their dreams and the best financing demonstrate they “speak their language”. This approach helps support and develop long lasting, profitable relationships with Boomers.

• The youngest two generations of consumers (GenX/Y) dominate the first-time buyer market. There are several factors that are important for agents to demonstrate, primarily that they “speak Gen X and Gen Y.”

Studies show that with Xers, agents must demonstrate to these consumers the “Home Depot” approach, telling these consumers at every turn, “Yes, you can do this, but we can help.” They have no interest in being told what to do, but will engage when asked to participate.

Texting and social media channels have eclipsed email as their preferred communication tool, with technology being tremendously important means of communication to both groups.

If you want to play with these young consumers, agents must use high tech platforms, interactive blogs, intranet portals and tech tools to facilitate the transaction. Speaking “high “tech” is often a pass for admission to connect with this age segment.

Here are a few examples that will help communicate with these generational groups:

1) For younger generations, look for communication models that deliver information 24/7. Employ platforms like QR Codes (Quick Response), and text number riders on signs to offer immediate information and connection for this crowd. Don’t overlook the use of traditional brochure boxes as an alternate, but make the boxes work for you by including electronic options on the paperwork for additional resource information. Consider using multiple options for multiple age groups.

2) Engage and participate online using blog posts and social media channels to position yourself as a resource, especially if you specialize in a given service vertical. Specialization enhances interest, like short sales, first time buyers, retirement communities, and government financing just to name a few. You are more likely to get higher response results with specificity. Post tips that offer valuable insight into the buying and selling process without selling to gain trust and create community.

3) Video is a terrific way to demonstrate expertise. Develop a weekly videozine to answer the most often asked questions from your prospects. Video has never been easier with the latest digital video cameras and easy uploads to Facebook and YouTube. Be sure your audio quality is good, and your content relevant. (Kodak PlayTouch Video Camera has easy uploads to social media channels)

4) Respond to all inquiries, using the means that best suits their needs. Once you are using various platforms to communicate, it is important to respond to all comments in a quick time frame.

Think “strategic communications” to target and focus on the specific generational styles. Take advantage of the technological tools, programs and systems available and you will appeal to all age groups wanting to buy and sell properties….everybody wins!

See more results when you recognize and respond to these specific needs and wants of any prospective customer, to guarantee profitable results.

For a short video on generational dynamics, visit: http://www.terrimurphy.com/video-blog/

Terri Murphy is President of Terri Murphy Communications, Inc, and is a communication and e-marketing specialist and social media consultant. For more information visit: www.TerriMurphy.com or email: Terri@TerriMurphy.com

Copyright©2010 All Rights Reserved

Dr. Tony Alessandra

www.Alessandra.com

www.PlatinumRule.com

Prosperity Series Memphis Featured Sales Expert

The Prosperity Series Featured Expert – Nido Qubein on March 29, 2010

What an amazing evening!  Below are photos from the event…

Nido Qubein & Don Hutson

 Networking

 Marguirete Piazza and Nido Qubein

 Marguirete Piazza and Shirley Condon

  Networking

If you think it’s been a tough year, bad market and find yourself thinking from a scarcity point of view, you might find yourself believing that there is little you can do to get more business…Think again!

Before you go with “scarcity thinking”, expert Harvey MacKay gives us 66 creative and meaningful ways to connect with even the most elusive prospects.

MacKay is the bestselling author of “Swim with the Sharks Without Being Eaten Alive”. He says, “Anyone can get the order if he’s willing to stretch the truth far enough. Whether you tell the truth or not, you don’t come out a winner just by getting the first big order. The mark of the pro is to get the RE-Order!”  That said, ask yourself these questions:

What am I willing to do to connect with a prospective client? (Or do I quit after a few attempts?)

Am I just trying to get another sale, or are their ways I can make an investment in a long term relationship?

In order to differentiate my service offering, by adding more value for this prospect by doing business with me?

A great lesson from MacKay’s book is found in Lesson #3 – He says, “Knowing something about your customer is just as important as knowing everything about you or your product”.

 MacKay was so passionate about wanting to know all he could about his customers; he is famous for developing his MacKay “66” question profile for each of his sales people to fill out on their customers. He is adamant that when we know more about our customer, we enjoy a huge advantage when they know we care about them, their needs and ultimately then we have earned the right to work with them.

All too often we fail the first step many high paid coaches, consultants and top performers knows and teaches:  Do a deep and thorough needs analysis of what THEY want, and not what you HAVE.  But first you have to get the appointment and be willing to accept the challenge of winning their business.

Asking questions and then clarifying the answers is one of the most powerful ways to establish confidence and begin building a bridge of trust between you and your prospect.  They want to know that you know not only what they want, but most importantly, why they want it. It is only when you act as their sales leader that you can help them determine what the appropriate solutions to their needs will actually be.  

Many times we approach our buyers and sellers with a barrage of self-serving information about our experience, tout top testimonials and are convinced that WE are the answer to their needs, when in fact, that may not be the case at all!  Regardless of your outstanding sales volume, negotiating acumen and years of experience, if they need a sales person who can speak Vietnamese, you may not be their best choice! 

The battle cry for successful sales that will never go out of style – RELATIONSHIP selling is the key to more sales. Ask well thought out questions, be a skilled active listener, and craft solutions with your prospects for best results.  You may not subscribe to doing a MacKay “66”, but knowing all the facts, motivations, limitations and best solutions for your customer will pave the way to create raving fans and endless referrals.

Bio: Terri Murphy is a speaker, communication consultant, and author of 5 books, including her latest with Donald Trump. She is the founder and Pres. of WomensWisdomNetwork.com and serves as CIO of U. S. Learning in Memphis.  email: Terri@TerriMurphy.com – for more information on the MacKay “66” visit http://www.harveymackay.com/tools/index.cfm

Lets Connect At:

www.LinkedIn.com/in/TerriMurphyCommunications
www.Facebook.com/TerriMurphy
www.Twitter.com/TerriMurphy

Viki  King’s  Christmas  MP3

How to Give Without Shopping This Christmas

Click The Link Below And Listen To Viki King:

V King MP3

-www.VikiKing.com

Terri Murphy

Terri Murphy has been honored by the National Association of REALTORS® (NAR) as one of the 12 national experts to head a new initiative to improve the functional processes of Realtors® across the country thru outside the box projects to engage and better serve consumers.  The announcement was made by Dale Stinton, NAR’s Chief Executive Officer.

 In August 2009, NAR instituted the Game Changers Challenge, whereby NAR challenged its 1,500 Local REALTOR® Boards, State Association of REALTORS ® and Institutes, Societies and Councils. REALTORS® were charged with creating benefits and programs to assist its membership during current economic conditions. REALTORS® encouraged state and local associations to take new perspectives of day-to-day work, focus on the value of finding new ideas and formulate them to answer the challenge. These game changing ideas must have an impact on the association, a new product, program, process or service that improves the REALTOR® organization.   Terri is joined by 11 other national leaders including former chief economist, John Tuccillo, John Featherstone,(RISMedia)  Steve Murray (Real Trends), Nancy Wilson Smith (Former NAR V.P) and Jeremy Conaway, (Recon Intelligence)
 
These submissions are expected to help revolutionize service and communication throughout the industry.

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