17 August 2018
You’ve heard of Boomers, Gen-X, and Millennials, right? You probably also know that people who fit into these generational groups vary in how they make major purchases, such as buying a home.
But what the heck is a Xennial?
This is a unique generation of real estate home buyers and sellers born between 1977 and 1983. While Boomers grew up with network TV and comic books, and Millenials spent their formative years on the internet and social media, Xennials lived in both worlds. They had the childhood of a Boomer and the late-teens/young adult experiences of a Millennial.
Xennials have lived through a wider panorama of technological change than any other generation. Just when they finally figured out the library’s duodecimal system, the internet hit them like a freight train!
Today, this group is in their early 40s; an age where many are buying their first or second homes.
So, as an agent who wants more real estate leads and real estate listings, how do you speak to this unique group?
One of the more interesting characteristics of Xennials, according to an article in Target Marketing Magazine, is they tend to be nostalgic. For example, they may like Facebook, yet fondly remember long phone conversations as a teenager with their best friend. And they may buy online without hesitation, yet also appreciate the personal touch of a helpful salesperson.
When speaking to a Xennial prospect, by all means do explain how you use technology (for example, virtual home tours) to help sell their properties, but also highlight off-line strategies such as networking, Open Houses, phone calls, and print advertising. Remember, they’re internet-savvy, yet reminisce about the off-line era.
This is a generation that, like other generations, still appreciate and read real estate direct mail, especially when it’s personalized.
Xennials also tend to be financially confident — much more so than Millennials — and believe the best time to make major purchases is right now. They are a “do it now” generation. So, during a listing presentation with such a prospect, don’t say, “I’m sure you’d like to think this over. How about I follow-up with you next week?” That’s a turn-off to this group. Instead, emphasize how you can help them get started right away in selling their home quickly and finding their next dream home.
Finally, Xennials place a high value on customer reviews when making buying decisions. They will often notice and read testimonials in your listing presentation kit and on your website. So when selling to this group, point out what your clients have to say about you and your services. You might also want to circle testimonials in your leave-behind materials to make it easier for them to review later.
There are 25 million Xennials in the U.S. and Canada. This is a large group! Appreciate their uniqueness and you’ll be able to attract more of these buyers and sellers.