How Do Buy Real Estate Different Millennials From Their Parents?
of Home Buyers are Millennials
The real estate industry is always changing and adapting to present day buyers. With 31% of home buyers being Millennials and being 12% of sellers of homes It is safe to say that the industry is changing because of them. Millennials are beginning to buy homes much differently than their parents, whether it’s a result of the use of technology or because of higher house prices. Below are just a few of the most common ways that Millennials are beginning to buy homes differently.
How to Find Houses
One of the main ways that real estate marketing is changing to accommodate the needs of newer generations is how houses are found in the first place. 90% of Millennials used the internet, instead of going into a real estate office and talking to an agent, more prospective buyers are prone to use the internet to find desirable properties. There are hundreds of websites that show homes in their immediate area that they can tour virtually.
Talking to Real Estate Agents
Another common change that Millennial real estate marketing is experiencing is how buyers communicate with their real estate agents. This generation is much more likely to email or text in comparison to picking up the phone and calling their agent. This not only helps to speed up communication but it is also more convenient for all parties involved.
Preparing the Research
In the past if you were buying a home you would rely on your real estate agent to give you a list of potential properties in your budget. With the use of the internet and mobile applications, home buyers are able to generate their own lists of potential properties to bring to their real estate agents. By doing their homework they’re able to find comparable sales in potential neighborhoods.
Fast Buying Processes
In today’s society we are used to getting information and results incredibly fast, much faster than in the past. This has directly influenced the way that Millennials are purchasing homes because they expect results as quickly as possible. Real estate agents are required to work within these specifications otherwise their clients may not be impressed with their sales skills. Essentially, home buyers now expect to put in an offer and receive an answer as to whether it is accepted the same night or the morning after.
Real estate marketing is one of the best ways to make sure that individuals are able to find the homes of their dreams. Millennials are quickly changing the way that we know how to buy and sell properties.