GenZ Introvert Economy
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GenZ Introvert Economy (by BRAD 20,000 [IN]) Feb 13, 2024 5:28 PM
       GenZ Introvert Economy (by NE [PA]) Feb 13, 2024 5:32 PM
       GenZ Introvert Economy (by NE [PA]) Feb 13, 2024 5:37 PM
       GenZ Introvert Economy (by RB [TN]) Feb 13, 2024 6:00 PM
       GenZ Introvert Economy (by Phil [OR]) Feb 13, 2024 6:36 PM
       GenZ Introvert Economy (by Ray-N-Pa [PA]) Feb 13, 2024 7:40 PM
       GenZ Introvert Economy (by DJ [VA]) Feb 13, 2024 8:35 PM
       GenZ Introvert Economy (by Richard [MI]) Feb 13, 2024 9:24 PM
       GenZ Introvert Economy (by 6x6 [TN]) Feb 13, 2024 9:31 PM
       GenZ Introvert Economy (by MikeA [TX]) Feb 13, 2024 9:51 PM
       GenZ Introvert Economy (by BRAD 20,000 [IN]) Feb 13, 2024 11:35 PM
       GenZ Introvert Economy (by zero [IN]) Feb 14, 2024 9:19 AM
       GenZ Introvert Economy (by WMH [NC]) Feb 14, 2024 9:41 AM
       GenZ Introvert Economy (by S i d [MO]) Feb 14, 2024 11:15 AM
       GenZ Introvert Economy (by BRAD 20,000 [IN]) Feb 14, 2024 11:21 AM
       GenZ Introvert Economy (by WMH [NC]) Feb 14, 2024 11:47 AM
       GenZ Introvert Economy (by Nicole [PA]) Feb 14, 2024 11:57 AM
       GenZ Introvert Economy (by Oregon Woodsmoke [ID]) Feb 14, 2024 12:04 PM
       GenZ Introvert Economy (by Kevin [FL]) Feb 14, 2024 12:23 PM
       GenZ Introvert Economy (by MikeA [TX]) Feb 15, 2024 9:51 AM
       GenZ Introvert Economy (by 6x6 [TN]) Feb 15, 2024 1:42 PM

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GenZ Introvert Economy (by BRAD 20,000 [IN]) Posted on: Feb 13, 2024 5:28 PM
Message:

Today's news...

The rental customer base has changed dramatically with GenZ. We must adapt to do business with them. Get to know them.

A new term - the Introvert Economy.

Gen Z, are ages 12-27. 20-somethings make up a large portion of renters, and first time home buyers.

The introvert concept comes from some stats:

61% report being nervous , anxious, or on edge about life, future, etc.

The most anxious and most LONELY generation

Many are a product of the pandemic during their formative years - in-home learning, masks, cancelled school events, no prom, taught to avoid contact...(they don't want to meet a middle aged LL and have to converse. We do lockbox showings, texting, photos and apps online...)

Many took Work From Home jobs with little to no personal interaction with co-workers, boss...

50% say they are online ALL DAY, keeping up with social media, etc

(That means WE need to be marketing ONLINE!)

75% of 16 year olds so not have a drivers' license (I cannot relate!)

Afraid of vehicle and insurance expenses

Afraid to buy a house because they watched their parents lose their home

Only 41% expect to own a home one day

Priority #1 Groceries (organic, smoothies, special coffee, sustainable sourced)

#2 Self care, self health, beauty (clothes, skin care, cosmetics, latest tech, Peleton...)

#3 Rent/mortgage

Digital Natives - first generation to grow up with tech/internet since kindergarten

88% spend their time on YouTube. Facebook is losing their attention.

68% on TikTok, 76% on Instagram, 67% on SnapChat

73% willing to pay more for sustainable products (we install 2 button water saver toilets)

82% trust authenticity and transparency - want images of real customers in advertising

54% hold some kind of investment

77% hold companies accountable to address social justice issues (use the Equal Housing symbol in our marketing)

Ideas on how we can adapt to this emerging customer base?

BRAD

--73.103.xxx.xxx




GenZ Introvert Economy (by NE [PA]) Posted on: Feb 13, 2024 5:32 PM
Message:

Signed lease today with a fine young man, 24. Firm handshake, mud on his work boots, diesel truck, runs heavy equipment. There’s still hope for America. Not much…. --24.152.xxx.xx




GenZ Introvert Economy (by NE [PA]) Posted on: Feb 13, 2024 5:37 PM
Message:

Brad, I consider most of what you list as red flags, not something to adapt to. --24.152.xxx.xx




GenZ Introvert Economy (by RB [TN]) Posted on: Feb 13, 2024 6:00 PM
Message:

A desperate LL / PM will take'em. (Fillers) --69.130.xxx.xxx




GenZ Introvert Economy (by Phil [OR]) Posted on: Feb 13, 2024 6:36 PM
Message:

I don't see Brad 20,000 as desperate. He has some good points.

I am getting a much lower % of interested people that are qualified. Love it when the ones who don't qualify try to tell you how you should be running your business.

--76.138.xxx.xxx




GenZ Introvert Economy (by Ray-N-Pa [PA]) Posted on: Feb 13, 2024 7:40 PM
Message:

I saw some of this data on the news this morning. Just about the same time I was thinking about the why, the news anchor gave out the why -

Gen Z was becoming of age, right smack in the middle of the whole C-19 knee jerk that our society took. Now I am glad we did something, but I think you would have a hard time justifying taking this same path in the future. After all why do we have inflation today? Could it be the four trillion in money we handed out?

Also the other contributing factor that they said was the availability of Lyft/Uber/door Dash and public transit systems today compared to system that existed a mere 20 years earlier. So I can see why these trends exist.

I suppose I could look at my marketing plan and see how I use the different system that I have at the ready. At any one time, I am using a few systems to rent places and using other systems to buy places. The nature place to start would be with the for lease marketing --24.101.xxx.xxx




GenZ Introvert Economy (by DJ [VA]) Posted on: Feb 13, 2024 8:35 PM
Message:

Space for home office & quick access to the internet.

I now pre-wire my house with high-speed-capable cable and an electrical receptacle to a designated, central location in the house. The plug-and-play wifi router spot.

No work whatsoever to get online quickly

--68.229.xxx.xxx




GenZ Introvert Economy (by Richard [MI]) Posted on: Feb 13, 2024 9:24 PM
Message:

Maybe we can build those little pods like they have in Tokyo. Maybe 5 x 10 feet , a bed and a desk with drawers under the bed and an internet hookup. --172.58.xxx.xx




GenZ Introvert Economy (by 6x6 [TN]) Posted on: Feb 13, 2024 9:31 PM
Message:

"Ideas on how we can adapt to this emerging customer base?"

Shoot them? Just kidding.

Thank you for the stats.

I can absolutely believe the introversion and for the reasons mentioned. I don't think there is a person on this planet that has not been affected by the last few years. The younger the person the more things like that can have an impact on your life. I would dare take a guess though that the ones that were least impacted were the manual laborers as they may have well had less social media intake verses the tech ones. That said, I would guess that all the younger generation are more likely to be partial to social media usage.

Baby Boomers got tired of the wars.

Gen X got tired of the lies.

Millennials got tired of their parents' irresponsibility and losing their houses.

And Gen Z got traumatized by social media and the greatest scam on earth.

I think your right about marketing to them on social media though.

I wonder what the future will be like?

--73.190.xxx.xxx




GenZ Introvert Economy (by MikeA [TX]) Posted on: Feb 13, 2024 9:51 PM
Message:

If paying rent is 3rd on the list (below beauty products, clothes, and the latest phones) do I really want them? Perhaps we should just wait until they grow up, if they ever do. Maybe we should recommend Mr. Musk's new AI brain chip include maturity features so this generation has some hope instead of just fear.

I got it, since they want everything online, no human interaction, and have their financial priorities screwed up, how about we just rent them a virtual apartment. After all, once they put on the virtual reality headset (that they spent the rent money on) that tent can look just like the Taj Mahal. --209.205.xxx.xx




GenZ Introvert Economy (by BRAD 20,000 [IN]) Posted on: Feb 13, 2024 11:35 PM
Message:

Like it or not this is where they are and we must learn to deal with it.

We did read the same "complaints" about Millenials, now they are in their 40's and run for president.

They have a similar list about us dumb Boomers:)

BRAD

--73.103.xxx.xxx




GenZ Introvert Economy (by zero [IN]) Posted on: Feb 14, 2024 9:19 AM
Message:

I know that since I started crawling into the tech way of doing things I am getting more young people wanting housing.

Simple things like online apps, leases and bill pay made a big difference in the happiness factor for them.

The one time I used Zillow I got a great set of tenants. She was driving when her phone beeped at her. She pulled over, looked and sent a response instantly. Had I just put signs up like before she would not have seen them as she didn't drive by the neighborhood.

Have looked at a couple tube vids that Brad has for showings. I like that idea as well. Now that I have a junky start of a website I can direct more people to what I need them to see and do.

Very interested in hearing other ideas on how to keep up with the growing online trend. --107.147.xx.xx




GenZ Introvert Economy (by WMH [NC]) Posted on: Feb 14, 2024 9:41 AM
Message:

I love technology and we use it as a core of how we do business and have for as long as we've been doing this, pretty much.

Could we do more? Yes. Videos are something we have NOT done but that's because my personal preference is NOT videos when I'm looking for something but that's me and pretty much only me as far as I can tell. So we need to start that.

I am admin of a local housing group on FB so I keep some tabs that way on what people are looking for. 99% have a pet and the other 1% want one. Mostly they don't have kids or their kids are grown - the families are just not out there looking for rental houses. Well a few are, relocating families, but not locals. And the PM companies manage those houses I've noticed.

Houses like ours: small cottages, townhomes, manufactured homes: they do attract the people we want. That's pure luck of the draw: it's what we could afford and so now it's what they can afford too. --173.28.xx.xxx




GenZ Introvert Economy (by S i d [MO]) Posted on: Feb 14, 2024 11:15 AM
Message:

"Only 41% expect to own a home one day"

That's a high percentage compared to some polls I've seen, most of which are in the 20-30% range. Anyway....

How do we reach them? Online. Digital. Texting. Fast responses.

You're correct that they are an anti-social generation in spite of being inundated with "social" media. What I find amusing as a software engineer is that even though most of them are savvy at USING tech for things like making their lives look cool online, most of them don't understand how the backbone of the world's technology actually works or how to make content that appeals to a broad base of people, unless they're doing something like OnlyFans. So while they're immersed in tech, they don't really understand how it works or how to make it work for them, except by becoming an online "influencer".... a dubious goal at best, and only a few make any significant money.

How to catch their ear in your ads? Own property with a nearby cell phone town and fiber internet access. That's what they want: constant online access and fast speeds.

--184.4.xx.xxx




GenZ Introvert Economy (by BRAD 20,000 [IN]) Posted on: Feb 14, 2024 11:21 AM
Message:

A detail - GenZ prefers YouTube over Facebook "because it has action".

Marketing gurus say we must have videos to grab and give them our message, better than words to read.

Our YouTube video walkthrus get hundreds of views when a home is listed. Another reason we don't need to jump and drop everything when someone wants to see a home - they can see 12 photos, staged, and watch the video. They should have a pretty good feel for the home by then.

They can also show it to their Mom in another state.

BRAD --73.103.xxx.xxx




GenZ Introvert Economy (by WMH [NC]) Posted on: Feb 14, 2024 11:47 AM
Message:

Facebook has long been an older person's venue, for years now. My youngest DGD (19) doesn't even have an account, she just looks at her sister's (26) if there are pictures or something she needs to see. She does have an Instagram, but unlike her sister's which is full of selfies and friends, hers are photos of a random design on the sidewalk or a flower or an animal :) My youngest son (35) and his wife do not use FB except for Messenger sometimes. They are all about Youtube for "How To's" and music.

But they (younger people) do go to FB to look for rentals or things to buy (Marketplace.) --173.28.xx.xxx




GenZ Introvert Economy (by Nicole [PA]) Posted on: Feb 14, 2024 11:57 AM
Message:

Those who have read my posts for a while know I don't like "all this new fangled" stuff. And I don't need to deal with it. Perhaps if you are huge with hundreds of units or perhaps your progressive area... but not here. I simply do it the way I want ... and I am full all the time. I do not want to rent to someone who cannot look me in the eye and speak to me about something, anything. When I go in a restaurant, I refuse to hold hold my phone up to some little icon Q thingy on the table and try to read the menu on my little phone screen. That said, my tenant pool is not college graduates.

I did snicker last week. One of my friends told me her son is raising his 18 month old to "have a healthy relationship with food". I just shovel food at my grandchildren and they eat it or they don't. --98.237.xxx.xx




GenZ Introvert Economy (by Oregon Woodsmoke [ID]) Posted on: Feb 14, 2024 12:04 PM
Message:

I don't have to deal with them because they can't afford my rentals. I won't see them until after they have figured out how to hold a good paying job.

Right now 100% of my tenants have been home owners and will probably own a home again in the future. I've got professionals and business owners. The type that someone (Brad?) said that wear a tie to work. Or they would except no one in Idaho ever wears a tie --76.178.xxx.xxx




GenZ Introvert Economy (by Kevin [FL]) Posted on: Feb 14, 2024 12:23 PM
Message:

I bought the wife a new Subaru this week, talking to the salesman who was about my age and he said they are so short on sales people but when they interview the gen x age they lack any social skills to talk to customers. --94.140.xx.xx




GenZ Introvert Economy (by MikeA [TX]) Posted on: Feb 15, 2024 9:51 AM
Message:

Kevin, I started to mention that in my first post. We have struggled to get kids to go into the trades for a while. Now you are seeing it migrate to customer facing roles. It seems like the youngest generation covets office/work from home jobs because they lack, and don't value, social skills. I can see this shifting the job market, specifically pay. You've already seen trades jobs paying significantly higher compared to other positions because there is such a shortage. This may be expanded into customer facing roles. If these trends continue then there will be an excess of home office workers and reduced pay will follow.

Oh, and back to the original trait list. Why does a shut-in need cosmetics and clothing other than pajamas? --209.205.xxx.xx




GenZ Introvert Economy (by 6x6 [TN]) Posted on: Feb 15, 2024 1:42 PM
Message:

MikeA, they probably use the mirror or selfies. --73.190.xxx.xxx



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