One of our leading brokers and his view of importance of gen Y in the latest “Australian Broker”
Melbourne broker Colin Sheppard – himself a member of Gen Y – said appealing to the impulsive “dreamer” was key.
“The Dreamer wakes up one morning and needs to buy a house, because all his mates are buying. For the Dreamer it’s all about lifestyle, status and an extension on how they want the world to view them and less about necessity or looking towards the future.
“The positive is that Generation Y isn’t afraid to take risks and make a buying decision. What they lack in experience, they make up for in confidence. This will ensure that, unlike older generations, aggressive investments by Generation Y could lead to some smart investing from a young age and a healthy retirement strategy by default,” he said.
So how do brokers translate this into a written deal?
“I think you need to market with their priorities in mind; travel, food, entertainment and a rich social calendar and how property can help them leverage funds for these quicker than savings can. You need to show them how they can use this investment to become financially independent,” said Sheppard.