It’s true that generations come and go and each one is unique – reacting and changing what previous generations have done over time. With this understanding in mind, I find it valuable to not only appreciate where our own generation, and those before us, have come from, but also what to expect and how to work with the coming generations. Each generation approaches challenges differently and as a result, solutions are obtained differently. That is not to say that one solution is better than another, just to make note that if a generation younger than you for example Generation Y or Z, your future clients, have a problem (such as finding the right house), how are you going to solve it?

Each generation prefers a method of communication. For our parents it could have been hand-written letters or telephone calls. For us, it may have been pagers, cell phones or emails. For the next generation, its text messaging and social networks. Each desires a space for their own, almost unique unto themselves as a way of showing individualism. Invariably, reaching out to them may become troublesome, for example:

Now if you were the client, which agent would you choose? The last one. Why? The third agent, unlike the others, is the most responsive to what the client wants. If the client sent a message via email, you’d expect a lengthier response and that the second agent to win. Via telephone, most likely the first agent would have won. Yet, the client preferred text messages, which suggests short and concise responses with actionable points, not lengthy emails or phone calls. In a way of thinking, you’ll have to read their “digital body language” in order to get the best results.

To help illustrate the point, check out the video down below. In the meantime, I have also included some interesting snippets regarding each generation.

A List of Generations

Each generation has different values. Each generation solves problems differently and that’s something I enjoy mentioning at my presentations. One such example is how my family likes to find a movie to watch over weekends. Take my dad, born during the GI generation, he’ll grab the Calendar section out of the newspaper to hunt down our movie options. Myself, a Baby Boomer, would run to my laptop and head straight to Fandango as that would be faster than using a newspaper. Then my kids, both Gen Y, opt for their smartphones. They watch movie trailers and buy the tickets long before either my dad or I even get to the movie listings. So the principle is simple. We all had the same task, find a movie. Yet, each generation approached it differently.

Here is a breakdown of the births for the last century, its shows you the size of each generation. The baby boomers are the largest, with a total of 78 million in the yellow. Second place goes to Generation Y with roughly 73 million. After the graph we have some descriptions for each generation.

The G.I. Generation (1901-1924) – is the generation that includes the veterans who fought in World War II and who were coming of age during the Great Depression.

The Silent Generation (1925-1945) – born notably during the Great Depression (1929–1939) and World War II (1939–1945), The Silent Generation was raised to expect little and ask for little. As such, due to the nature of their upbringing, the Silent Generation was one that just waited for the hand of fate to fall on its shoulders, meanwhile working fairly hard and saying almost nothing.

Baby Boomers (1946-1964) – are associated with a rejection or redefinition of traditional values notes Wikipedia. In Europe and North America boomers are widely associated with privilege, as many grew up in a time of affluence. Collectively, Boomers were the healthiest, and wealthiest generation to that time, and amongst the first to grow up genuinely expecting the world to improve with time.

Generation X (1965-1976) – Growing up in a historical span of relative geopolitical peace for the US, this generation saw the inception of the home computer, the rise of video games, cable television and the Internet as a tool for social and commercial purposes.

Generation Y (1977-1994) – With the rise of instant communication technologies (email, texting, and IM) and social outlets (Facebook, Twitter, Youtube) Gen Y has reputation for being somewhat peer-oriented due to easier facilitation of communication through technology. Additionally, expression and acceptance has been highly important to this generation, which invariably has allowed them to find comfort in online games like World of Warcraft and Second Life.

Generation Z (1995-current) – Born after the fall of the Soviet Union and the dawn of the World Wide Web, Generation Z also described as “digital natives” is highly connected, having had lifelong use of World Wide Web, instant messaging, text messaging, MP3 players, mobile phones, etc. They are considered to be Internet ready (requiring permanent access to the Internet) and device agnostic (not limited to the home computer or any particular device). Unlike previous generations, Gen Z focuses on being entirely individualistic, partially as a result having been raised with online social networks and Internet freedom.

Rock Concert Commercial

When you take a look at the video below, think about our perceptions in the different age groups, much like we have just discussed.

Augmented Reality, as defined by Wikipedia, is a term for a live, direct or indirect view of a physical real-world environment whose elements are merged with (or augmented by) virtual computer-generated imagery creating a Mixed Reality. More commonly it is the application and complete power of the Web, including all Social Media, searching, reviews, etc., integrated into daily life beyond the laptop or office computer. It is the overlay of graphics onto a video stream or a heads-up display. It is a new way to see the real world.

As this ‘Mixed Reality’ intertwines with mobile applications that seek to improve real-time information searches, much like real-time turn-by- turn GPS directions, the social sphere will find a new home in mobility, with social reviews and ratings as more individuals seek answers on the go. This new Mixed Reality is but a step in the next wave of Internet browsing, information search and general queries. No need to find a computer for a Google search regarding the quality of nearby restaurants or details about the house down the street; consumers will begin to use camera phones to display restaurant ratings, reviews and menus from location and image based services.

Possibilities will even extend into MLS (Multiple Listing Service) searches as consumers seek to gain information on the go. Projected by an ABI Research study, handheld platforms will transform the Augmented Reality ecosystem with associated revenue increasing from $6 million in 2008 to over $350 million in 2014.

Although Augmented Reality itself is still somewhat in its infancy akin to the Internet in 1994, the is a lot of potential. Just as Realtors® have learned to adopt various form of technology (see Realtors® are Not Stupid, just Slow), this new technology will be no different. Down below I’ve added some information I found regarding Layar and how it works as well as the video they have released regarding their Augmented Reality Browser.

How Layar Works

Layar is derived from location-based services, and works on mobile phones that include a camera, GPS and a compass. It works as follows: Starting up the Layar application automatically activates the camera. The embedded GPS automatically knows the location of the phone and the compass determines in which direction the phone is facing. Each partner provides a set of location coordinates with relevant information which forms a digital layer. By tapping the side of the screen the user easily switches between layers. This makes Layar a new type of browser which combines digital and reality, which offers an augmented view of the world.

NEW VIDEO: Augmented Reality in Everyday Life

Layar has just updated its “Original Layar Augmented Reality Browser” Video with a new one that explains the concept a lot better. I’ve added the new one down below.

It’s not everyday that you come across some wonderfully written and absolutely brilliant skits, so the day I saw this one, I could not help but laugh. Written around the daily troubles of using technology, the irony in product naming, and the oddity of the terminology and how we use these products. The skit is playful and reminds us of how bizarre things often are. This is by far one of the most requested videos I have been asked to share. So if you haven’t seen it yet, I recommend taking a dive into watching the British Skit “My Blackberry Isn’t Working.”

Skit References

Blackberry – is a line of mobile e-mail and smartphone devices developed and designed by Canadian company Research In Motion (RIM) since 1999. By end of 2010, Blackberry maintained 14.8% share of worldwide smartphone sales, making it the fifth most popular device manufacturer after Nokia, Samsung, LG, and Apple.

Orange – is the brand used by France Télécom for its mobile network operator and Internet service provider subsidiaries much like AT&T or Verizon in the United States. It is the eighth largest telecom operator in the world, with over 189 million customers as of 2009.

Apple – is an American multinational corporation that designs and markets consumer electronics, computer software, and personal computers. The company’s best-known hardware products include the Macintosh line of computers, the iPod, the iPhone and the iPad.

Dongle – is a piece of hardware that attaches to a computer in order to make a piece of secured software run. A dongle in this sense is used as a high-end form of security to prevent the unauthorized copying of software, since making a copy of the hardware itself is much more difficult than simply copying the software.

Eggsbox, £3.60 – A play on the name of Microsoft’s XBox 360 Gaming Console. The Xbox 360 competes with Sony’s PlayStation 3 and Nintendo’s Wii as part of the seventh generation of video game consoles. As of January 2011, there are over 50 million Xbox 360 consoles worldwide.

VIDEO: My Blackberry Isn’t Working

Where do you think technology is headed? Can you imagine planning your day with a few touches to your bathroom mirror? What about using your kitchen counter for more than just cooking? Using interactive video on your kitchen counter may seen a bit far-fetched or science-fiction-esque, but that won’t change the fact that some organizations are beginning to think of it as the future.

Today’s consumers expect their Internet experience, whether at a desk or on the road, to meet the needs of the moment in real-time, in any location. Managing partner of M/C Venture Partners, James Wade, says that consumers are sharing and demanding more rich media than ever before and they are demanding it in new ways. And the video, A Day Made of Glass, takes that concept to a whole new level. Below is a excerpt from a News Release by Corning regarding the glass and the video itself. While you’re watching it, think of the application not only in terms of consumers using it in their homes, but what this can also mean for staging in the future (having every glass surface interactive) and even redefining concept of working at home and office virtualization.

Describing A Day Made of Glass

Glass is the essential enabling material of this new world. “This is a visual world – so transparency is a must,” explains Corning Chairman and CEO Wendell. But that’s just the beginning. Ubiquitous displays require materials that are flexible, durable, stable under the toughest of environmental conditions, and have a cool, touch-friendly aesthetic. And not just any glass will do. This world requires materials that are strong, yet thin and lightweight; that can enable complex electronic circuits and nano functionality; that can scale for very large applications, and that are also environmentally friendly. This world calls for the kind of specialty glass.

VIDEO: A Day Made of Glass

• Time Magazine: “Home ownership has let us down” … “The dark side of homeownership is now all too apparent: foreclosures and walkaways, neighborhoods plagued by abandoned properties and plummeting home values” … “For the better part of a century, politics, industry and culture aligned to create a fetish of the idea of buying a house.

• The Government: “There is this notion that being housed well is synonymous with being a homeowner. That narrative has got to change.”

• The NAR: “For the real estate industry, any changes in incentives around home ownership, which have been around for generations, would raise considerable concern because of the core role of home- ownership in fostering communities and social stability, and in building household wealth.”

The government has been operating on the economy in general and the real estate market in particular, much like an inexperienced mechanic under the hood of your car. He keeps trying one thing after another in hopes that something will work. Sometimes it does but more often than not it doesn’t. Growing lack of confidence in the government’s ability to fix the real estate market has resulted in frustration and an uncertain market.

This growing uncertainty was highlighted in a survey conducted for the NAR in 2010 that revealed more than half of the respondents believe the market has slowed, down from 67% in 2007. It also revealed that only 77% thought that buying a home was a good financial decision; down from 87%. There is no doubt that everyone, both home owners and renters agree that homeownership is integral to our nation’s economy and that it benefits individuals, and families and undoubtedly strengthens our communities. But for those who are renting now, are their reactions towards homeownership?

“American Attitudes About Home Ownership” Survey

In survey of 3,793 adults conducted by Harris Interactive, many renters indicated that they aspire to homeownership. More than 6 in 10 renters are at least somewhat likely to purchase a home in the future, and 24 percent have indicated that they are extremely likely to purchase a home. Below is a list of some additional findings:

• The vast majority of both home owners and renters say that owning a home is a smart decision over the long term. Even in today’s challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home.

• Home owners are much more likely to be satisfied with the quality of their family and community life than renters. While more than half of owners (56%) are “very” or “extremely” satisfied with the overall quality of their family life, only about one-third (36%) of renters report the same levels of satisfaction. Also, 43% of home owners are “very” or “extremely” satisfied with their community life, compared with 30% of renters.

• An overwhelming majority of home owners are happy with their decision to own a home. A full 93% of owners surveyed would buy again.

• Most renters aspire to home ownership. The majority of renters (63%) say they are at least somewhat likely to purchase a home at some point in the future. Among them, young adults (18- to 24-years-old) have the strongest aspirations for homeownership.

Additional Thoughts

Home ownership has been one of the bulwarks of the U.S. since its founding and continues to be the “American Dream” for the majority of Americans. Unfortunately, over the past decade that goal has turned into a nightmare for many home owners. What is now needed is for homeownership to lead both the real estate industry and the economy out of the recession.

According to Forbes, Groupon has over 13 million subscribers and was on track to pass $500 million in revenue for 2010. The success of their Group Social Shopping approach, with claims that 98% of offers met the minimum number of signups, has brought in over 35,000 companies fighting to offer products and services. Hundreds of copycat shopping sites have already sprung up including LivingSocial, RedBeacon, and HelpHive to name a few.

The amazing thing however, is in the various “Daily Deal” going on. Service providers like Groupon are different than traditional websites and estores because they don’t deliver “eyeballs” or “clicks,” but rather actual customers that are ready and willing to purchase goods and services in bulk quantities. So at this point, you may begin to ask yourself, how can we apply this to Real Estate? Well, Dream Town Realty appears to have asked the same question and came up with the following offer. Now before you toss the concept aside, its worth noting that not only has the deal tipped, meaning there are enough interested customers, it has garnered over three times the requested amount. How does that sound for lead generation. Simply amazing!

Dream Town Realty’s Groupon Offer

$25 for $1,000 Cash at Closing When Buying or Selling with Dream Town Realty

People buy houses when they’re ready to settle down and tired of impermanent living arrangements, such as living with parents in log cabins made of butter. Acquire a more permanent abode with today’s Groupon: for $25, you get a $1,000 cash gift at the time of closing on a house with Dream Town Realty, located on North Sedgwick, Lincoln Park, West Loop, and Lincoln Square. This Groupon requires a minimum transaction of $150,000.

A rapidly growing business with the highest percentage of Chicago Association of Realtors Top Producers in the city, Dream Town Realty matches home sellers with homebuyers during mutually beneficial exchanges of houses, condos, and residential tree houses in Chicago and the surrounding areas. Prospective buyers can browse an online database of more than 200,000 properties to quickly zero in on dwellings that are in their price range and have built-in cheetah cages. The negotiation know-how and trend-spotting savvy of Dream Town’s 165 knowledgeable agents guide both buyers and sellers through turbulent, sea-monster-infested real-estate waters. Throughout the process, agents can be reached by phone or email 24/7 in case clients have urgent questions about Babe Ruth’s batting average or the pronunciation of the word “pusillanimous.”

Sellers must list with Dream Town by April 9, 2012, and buyers must both close the sale and redeem their Groupon by the same date to get $1,000 in cash from Dream Town’s coffers. This cash gift can be used to feed wallets, but be advised—it might ruin their appetites for smaller bills.

VIDEO: Learn How Groupon Works