Gen Y - My generation, My business
Generation Y is commonly defined as people born between 1977 and the mid ‘90s. Being born in 1985, I fall smack dab into that category. Well doesn't that open so many doors for me? First of all, Gen Y is the future; they are today's consumers, they are tomorrow's, they are today's first-time home buyers, they are tomorrow's, they are today and tomorrow. Secondly, they are my peers - they are my friends, my siblings (and their friends!), my cousins, my schoolmates. They trust me and relate to me; better yet, I relate to them. Lastly, I function the same very way they do. Like I just said, I relate to them. Let me tell you what, as a generation, we like it when people can relate to us.
In my mind, and I think you'll agree, I got into real estate at just the right time in many ways. Getting my license in Jan 2006, I was never involved in the boom and do not know what it's like to have clients and deals fall into my lap. All I know is working for my success and I love it that way! In Jan 2006, I had just turned 20 years old. So did all of my friends! Okay so 20 is a little young to be a homebuyer, yes, but 23 is not. At this point in time, I have 3 successful years under my belt and now most of my friends are looking to buy their first home! And look who gets their business. Yours truly.
Let's look at a break-down of my closest friends. One just got married and rents an apartment while they pay down their wedding bills and school loans. Although they are paying off other debt, they are in fact saving an impressive amount of money to put a deposit on a home in the near future. Another has been married for a handful of years now and has three children. She falls into the "exception" category as she and her husband were assisted in buying a home when aging grandparents could no longer live independently. So, skip her. Another is married and living in a too-small, but cute, condo that her father pushed her to buy a year ago. Guess what? She hates it. It's not what she wanted; it's what her dad wanted. So, look whose buying again AND SELLING! Okay, so that takes care of the three married friends, in which I should get three sales out of, say within a year.
So now the remaining six who are not married: One rents with her boyfriend and everyone else still lives at home and spend large amounts of time at their boyfriends' houses! Guess how many are looking to get out of dodge? ALL SIX of course. How many are realistic at the moment? Probably two or three. Good enough for me. That means the other three or four will come around in the next few years - job security, lol.
Are you beginning to see the first of many points that I'd like to make? I am in the best age range at the moment (and for years to come, luckily) since all of my peers are at a point in their lives where they will begin to buy real estate. Terrific. I'll be there to help them along.
I am going to continue this blogging adventure of Gen Y in the future. I think this is enough for now - simply my introduction. Upcoming entries will include what makes Gen Y, where to find them, how they function, what they want, why this is the market for them, etc.
Stay tuned...
Randall, Realtors GMAC Real Estate has been servicing Rhode Island and Connecticut home owners and home buyers since 1977. We are a full service real estate brokerage.
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