MILLENNIALS CHANGING HOME BUYING PROCESS
I just read a very interesting article about these “mystery? Millennials and Real Estate. I am definitely out of the 18-34 age group and so are most of my colleagues. Yes it is a whole new world! Remember when seminar would encourage you to spend hours “cold calling” for business. Not that I could ever do that as the idea made me nauseous! My partner is great at door knocking but even that has died off a bit since the Big Wide Internet World has taken over. Though many of the “Millennials” I believe still live at home with their parents.
This generation will eventually be a huge target audience. In our business we are on the phone constantly. Solving problem after problem! From Reading a report from Zillow – this demographic does NOT want to talk on the phone. TEXT me with information. They date on text, they read on text, they talk on text, they break up relationships on text. Boy does that “cut out” some slick agents that I know that try to talk clients into what THEY want them to do! Nope- I’m not one of those. Someone wants IMMEDIATE information they get it! It maybe be “stay tuned- finding out”- but they GET that text back It is predicted on this report that Millennials will overtake baby boomers as the generation purchasing the largest number of houses this year.
The Millennial buyer relies on “technology”! More than 50% (again per Zillow) of Millennials search for homes on their phones and among those 26% end up buying a home they found that way. I have clients that are “on alerts” call me daily with houses they have found WAY before I do. As an agent I cannot have three buyer alerts on my phone without jumping off the nearest Bridge. However the good news is that they STILL need me. The listing agent is NOT on the Internet unless they are a PAYING member of that site. So best to hgave an advocate that you trust and know is going to give you the right information. Only 3% of realtors are under 30. Even if you ARE 30 – do you want an agent that got his license two months ago? The beauty of this business is not only knowledge but WORLD experience in the field. Solving the 10000 problems that come up daily in our transactions or listings. Isn’t the “magic bullet” is having a seasoned agent with Tech knowledge and also experience in the field? They don’t need another drinking buddy. They need a professional.
Yes, its the Google generation. But we can all fit into that “box”. I believe that if you give 10000% great service, instant question answering, amazing problem solving and communications that we can bridge that age gap and provide these new buyers with knowledge and great service!! Plus obviously I know how to blog!