Presentation on leading in the Real Estate industry today and beyond... This session covers generational differences and how to communicate to bring them all together.
4. Seniors | GI Generation Gen X
1900-1925 1965 - 1980
Seniors | Silent Generation Gen Y
1900-1925 1980 - 2000
Baby Boomers Next Gen
1945 - 1965 2000 - Present
5. Generational Workplace Maintenance
Traditionalist Boomer Gen X Gen Yers
Too much and Iâll Required to keep Continuous and
Training The hard way
leave me expected
Collaborative &
Learning style Classroom Facilitated Independent
networked
Communications style Top down Guarded Hub & Spoke Collaborative
Problem-solving Hierarchical Horizontal Independent Collaborative
Decision-making Seeks approval Team informed Team included Team decided
Leadership style Command & control Get out of the way Coach Partner
No news is good
Feedback Once per year Weekly/Daily On demand
news
Unable to work Unfathomable if not
Technology use Uncomfortable Unsure
without it provided
Part of my daily
Job changing Sets me back Sets me back Necessary
routine
Source: Lynne C. Lancaster and David Stillman. When Generations Collide:
Who They Are. Why They Clash. How To Solve the Generational Puzzle at Work (HarperBusiness, 2002)
6. 5
GI - Silent Generation Considerations
⢠Address by Mr./Mrs. Unless authorized
⢠Respects process, procedure, laws, specialists,
designations; experience, stability
⢠Verify preferred method of communication
⢠Appreciates personal touches
⢠Very loyal
⢠Use larger type fonts
⢠May have more time
⢠Requires patience
7. 3
Boomer Generation Considerations
⢠Custom marketing uniquely prepared for them
⢠May not appreciate your value
⢠Include Resumes, Designations & Experience
⢠Communications must be in color with larger type
⢠High Maintenance â Constant Attention
⢠Probably uses email
⢠Time is precious
⢠Limited Loyalty
⢠Income Rich, cash poor
8. Gen X Generation Considerations
⢠Expect technology savvy professionals, online
presence with rich content and easy to use
⢠Expect a packaged solution with high-caliber
skills and advocacy
⢠Will be your business partner
⢠Email and texting preferred
⢠Use smart phones w/ mobile apps, QR codes
⢠Will be loyal if they choose you
⢠High Expectations
⢠E-Transaction
16
9. 4
Gen Y Generation Considerations
⢠GenY and NextGen+ are very comfortable in a
virtual environment and global community
⢠Buy-in will not be restricted by domestic boundaries;
crossing a threshold may not be necessary to make
a decision; property portals will include all decision
points
⢠Will be an involved partner
⢠E-Transaction (search to close)
will be the new normal
⢠What else?!!!
18
10. Rewards
Traditionalists (GI / Silent Generation)
âSupport me in shifting the balance.â
Baby Boomers
âHelp me balance everyone else and find
meaning myself.â
Gen Xers
âGive me balance now, not when Iâm sixty-
five.â
Gen Yers
âWork isnât everything, I need flexibility so
I can balance all my activities.â
Source: When Generations Collide - Lancaster & Stillman
11. 3 Benefits of Multi-Generational Teams
Active engagement
 â
 reduces
 the
 risk
 of
 group
 think
 by
Â
encouraging
 dynamic
 thinking
 whereby
 everyone
 openly
Â
ques:ons
 and
 validates
 the
 teamâs
 thought
 process.
Increased innovation and creativity
 â
 a
 diverse
 mix
Â
of
 perspec:ves
 will
 foster
 new
 ways
 of
 looking
 at
 solu:ons
Â
and
 opportuni:es
 giving
 your
 organiza:on
 a
 compe::ve
Â
advantage.
Built-in mentoring â
 prac:cal
 way
 to
 ďŹll
 skill
 gaps;
Â
inexperienced
 members
 learn
 how
 to
 avoid
 âold
 mistakesâ
Â
and
 make
 new
 ones,
 experienced
 members
 learn
 how
 to
Â
envision
 solu:ons
 outside
 their
 comfort
 zone
12. RealtorsÂŽ By Years of Experience
<1 Year - 6%
2 Years - 4%
4% 4% 4% 3 Years - 4%
4%
6%
4 years - 4%
3%
5 Years - 5%
6-10 Years - 27%
11-15 Years - 14%
17%
26% 16-25 Years - 19%
26-39 Years - 17%
40+ - 3%
19%
14%
Source: 2012 NAR Member ProďŹle
16. Use of Social Media
Yes - 54%
No - 27%
In Future - 9%
10%
30%
60%
Source: 2012 NAR Member ProďŹle
17. Demographics
60% of Limits
Realtors are Role
Females 72% Married
Only 5% have Real 93% Vote
Estate as first career
50%
are 2 person
Average households
combined household
income is $93,000
Source: 2012 NAR Member ProďŹle
52. Video Once - Teach Once
Guest Speakers | Recruitment Shorts | Teasers | Promos
53. Blogging: Recruitment and Retentions
Multi-Author Approach
Writing for Agents and Consumers
Pace RSS is your Friend
Forum based tool for agents
Budgets 53
75. Create A Marketing Plan
â˘Invest A Percentage of your Income
â˘Identify Effective Manual & Online Tools
â˘Analyze The Expected ROI
â˘Invest Monthly For Continuity
â˘Track Your Results
80. Measured Engagement
⢠1 to 15 Rule
⢠Keep it Positive!
⢠Spend about 20
minutes a day
engaging others
⢠Spend about 20
minutes a day
creating
⢠Donât chase every
tool
80