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Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth

First Time Homebuyer Credit Means Dealing With More Millennials

Gen YThere's a new cat on the block. Another generation is forging its way into the home buying market. They are the Gen Y crowd, the Millennials, the Echo Boomers. With the first time homebuyer credit extended, more of this generation may land on a Realtor's doorstep for assistance.

Do you know who they are? Are they your kids? nieces and nephews? Friends? YOU?

It is important in understanding generational traits so here's a quick recap:

  • Born in the era of 1982-1995, so how old is that? 15 to 28!!
  • There are 60 million of them, three times the size of the preceding Gen Xers and almost as large as the 78 million Baby Boomers
  • Have been very much around instant communication technologies, email, texting, YouTube, Facebook, MySpace, Twitter
  • Real need to express oneself, to be accepted, not as fearful of online presence
  • Build Internet communities, can like online gaming, blog posts
  • Can delay rites of passage like early marriage, live with parents longer
  • Were brought up as trophy kids, where many at sporting events had everyone a winner
  • Much more tolerant of differences between people
  • Many don't understand the corporate culture about making money. Want to shape job to fit their lives
  • Big into multitasking and get their news online rather than print media

So it seems to best communicate and REACH this next generation being well versed in all communication and entertainment technology is good, having an online presence, and realizing for some of them, their parents may also have an influence on a purchase.

I have great faith that these younger people will do fine despite some comparing them to previous "Lost Generations." They tend to be more civic minded than Gen X and Baby Boomers, and this is a good thing for all of us.

It is not just about buying a house, but rather building a "community."

When you text them, they will know you got it with them.

When Letting It All Hang Out May Not Be A Good Thing

TransparencyToday I wanted to write about and solicit your opinions particularly in the online world of social media about "transparency." That is revealing more the personal side of ourselves on blogs or social media like Active Rain or Facebook or with our tweets on Twitter. Sometimes this may not be a good thing. As one might say about your portrayal, "Too Much Information."

Particularly as a business person your image stays out there on the Internet. But especially Gen Y and the Millennials generation, some of them just don't seem to care about any perceived "reputation" they are tarnishing.

A recent blog I read on Active Rain talked about other Realtors "partying" it up and showed pictures on Facebook with everyone cavorting in not so flattering situations. It caused quite a stir.

The public does read this stuff, believe it or not. I guess we have the extremes of the ultra private business only people and the ones that don't care what they put out on the Internet. Maybe somewhere in the middle with some decorum and common sense is the proper place to be. It does seem like that buzz phrase from Vegas that what happens in Vegas stays in Vegas should be what to follow but somehow these days it ends up on the Internet.

Are you shocked with what you read about others and FROM others with regard to transparency some days?

Virtual or Real, It's All Good

Online 1I've seen banter back and forth between those that thrive in the online world of Twitter, Facebook, email, blogging, and browsing the web saying they enjoy that communication and it is better or preferred over face to face. Who can deal with some of those annoying local people anyway?

Then there is the other camp that wouldn't want to Twitter if you put a gun to their head and prefer meeting people at the local diner. The Moose Lodge. Going bowling. A civic function, soccer game, or on the adjacent treadmill at the YMCA.

OK, if I may settle the score.

Virtual or Real, It's All Good.

Why must one be better than the other? Isn't life more complex than to be one dimensional?

There is a great advantage of the online connection and that is geographically separate people can make connections very efficiently. Couple that with short emails, texts or microblogs, you can get the information fast and in your fingertips rather easily and reply back

Online 2

However, never discount the power of face to face communication either. The fact of the matter is online complements offline.

Online can "lead to" offline. I think where we are in today's communication is we are sifting. Sifting these online "engagements" over and over again and seeing which ones are worthy of going to the next two steps. A phone call and then face to face. Obviously with the geographic distant relationships, the phone call is not that big a step, and the face to face might have to be put off till another time, travel wise.

But this sifting goes on and on, based on what you are seeing and replying to with the online version of the communication.

It goes for both personal and business relationships obviously. Do I want to "connect" with this person? Will they "connect" with me first? How? Text? Email? Microblog? Facebook? Other web site in common?

THEN, will I call them up? Use the U.S. mail? THEN, meet them. Online communities are truly a gift given to us in the broader world. They are diverse and large. We are not stuck in some valley in the hills of West Virginia where we don't know who lies over the next hill. Now we may find a soulmate in Israel or a fun loving chess partner in the UK. A south Florida Realtor may know the perfect inspector in Seattle.

Above all we must remember it is all about people. They choose you. You choose them. And you go from there. And one thing for the obsessive types, whatever you do, remember the online and the offline are complementary. You never want your whole life to be online.

Online 3

What Are Your Forgive Them They Know Not What They Are Doing Stories?

PicardI was a big fan of the second in the series of Star Treks, The Next Generation. I can relate to Captain Picard of the Enterprise in wondering about the actions of his crew or the people he encountered often. He seemed more mired in the emotions of the "real world" than his predecessor James T. Kirk and I saw his frustration rise often.

I am the captain of my own S.S. Real Estate Enterprise and it is amazing what I see from other real estate agents and industry "professionals" at times. I think often it is lack of education, some oversight but more often

I Must Forgive Them For They Know Not What They Are Doing.

Here are some recently:

  • Compressed File Ignorance. I am sent these 6 to 10 MB single emails with photos of furniture for sale or every page of a contract at 1 MB per page. I know they must think I have that new 4G cellular service with my high tech self or are perpetually connected to a high speed LAN but I want to clue them in, I AM NOT!! Compress your photos people with Office Picture Manager. THINK before hitting SEND!
  • No pictures on the MLS sheet. I love this guessing game of what the property MIGHT look like. Is this a ploy to not photograph in high resolution a DUMP? Me as a buyer rep and the buyers as well often just skip looking at this one.
  • No access information to get into a house. How do I do this? Showing service, combo lock, Supra lock? Why do I have to track YOU the agent down to solve this mystery?
  • Appointment only listings. This in many cases is a death knell for selling many properties as once again agents won't bother to show these sometimes. Use this one VERY carefully.
  • Location of lock boxes. Where are the darn things? Certainly not on the door. How about in the bushes, in the back yard, around the side yard fastened to a chain? How about TELLING ME? I love this other hat I have to wear as a detective.
  • The famous missing key in the lock box. Where did it go? Are you polishing it up on Saturday afternoon at the locksmith? This one not only makes me laugh but I think there are key thieves out there. Usually referred to as the last Realtor who absent mindedly ran off with the key. Slow down people.
  • No DATE on the final offer contract. Contracts 101 people. NOT a valid contract without a DATE!!
  • My voice mailbox is full. We have all been there on this one. A major Picard headache!!
  • No lead paint disclosure form. Back to our REALTOR training. Required on houses built 1978 and older. I have started to see this form on "newer" houses than that. Now these Realtors are really confusing me.
  • Zero feedback from showings. This is so easy to do with email nowadays, even from our Smartphones. I have determined this is laziness and disorganization on some agent's parts.
  • And finally my favorite...drum roll please... NO RETURNED PHONE CALLS FROM AGENTS. None, not ever. Not even with multiple calls and emails to them. Are they still in the business? It is their listing or their buyer at least one time sent in an offer or expressed interest in doing something. Option there is to call their broker. Don't waste any more time with the agent.

So as being Captain Picard, we all have to live with this, take a deep breath, and practice a little forgiveness some days to keep our sanity.

Do you have any of your own forgive them for they know not what they are doing encounters of the "strange" kind?

You'll get through this. MAKE IT SO!!!