Did you know that the freshman class of 2017 that is just about to enter college is our future home buyers? You may have guessed that, but are you ready for them, their mindset, and will you be able to communicate with them?
Here are a few interesting tidbits about the class of 2017 from Beloit College’s annual mindset list. Did you know that today’s freshman has been brought up with technology their entire lives? Having instant access to information at their fingertips has been the norm since they were able to push buttons. Today’s 18-year-olds have never used a phone with a cord; they’re in the post email era and instead prefer to transmit their life over text and social networking. If it can’t be said in 140 characters or less, it’s not worth saying. This generation thinks that Korean cars have always been on the road and that Fergie is a pop singer, not the Duchess of York. Five hundred channels on TV have always been available, music has never existed on an album, 45, eight-track, or cassette and they are not sure what a record player is. The first computers they used were Apple II’s or Mac II’s and they are now in a museum. They don’t wear wrist watches because they always have the time on their phones. They’ll use their phones to make calls but that will be fifth on the list of things they’ll do on the device. Texting, social networking, email, and watching TV will all come before making a telephone call. If their needs aren’t being met, they don’t fret about it; instead, they create an application to meet the need.
This is a rapidly changing world and technology is fueling the pace. As Realtors, home buyers, and sellers, we need to understand the language and how the next generation operates. How will they shop for homes? One way is geo tracking from their phone. They’ll probably never sign a paper contract. This generation of home buyers may go through the entire home buying process and never step foot in the property until the day they move in. Think I am exaggerating? Just 15 years ago, people couldn’t figure out how you did banking without going to the bank.
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