Home Buying is Changing Due to Millennials

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Home Buying is Changing Due to Millennials

Home Buying is Changing Due to Millennials

BY 

Real Estate Agent with Russ Lyon Sotheby’s International Realty
Real estate agents, take note. Selling homes to the millennial generation is a lot different than to the Gen Xers or Baby Boomers. And Millennials will soon be overtaking baby boomers for buying the largest number of homes. So, we might as well learn how this group likes to do business. At Russ Lyon Sotheby’s, I came across these tips.

Don’t call

As an agent at Russ Lyon Sotheby’s, I do a lot of business over the phone. But I’m learning, Millennials don’t like talking. They want texts or even email. This is challenging for a lot of real estate agents who are older than this group.

Millennials do their homework on the web

This age group likes searching for homes on the web or on their phone and 26 percent end up buying a home they found this way, according to NAR. This age group also likes apps and checks listings this way. 

Facebook is also popular, I’ve learned at Russ Lyon Sotheby’s, among this group and is a good avenue to post listings to reach Millennials. They also want you to engage them on social media — not just repost an article.

Be upfront

Millennials don’t like surprises. They want to know what to expect every step of the way. They like timelines, checklists, and charts. 

Along this same line, Millennials like good customer service and want quick, accurate answers to questions. 

Unlike baby boomers, the younger generation is not bothered by being asked for bank statements, employment verifications, or other personal data. They’re used to the process. 

Testimonials

When it comes to finding a Russ Lyon Sotheby’s agent, many millennial homebuyers get advice from their parents, but they also like to research agents websites, looking for testimonials. They also read online reviews.

Be ready with advice

Millennials know what they want and it’s hard for them to think outside the box. For example, stainless steel appliances are in. If young buyers look at a home that doesn’t have these type of appliances, they might walk away from the home instead of thinking about how easy it is to replace these items. That’s where as a Russ Lyon Sotheby’s agent, I have to be ready to step in to give guidance and even provide names of contractors and vendors.

So, selling to this younger generation is possible, even for agents who’ve been doing this for a while. However, like many things in life, you’ll just need to make some adjustments on how you work with this group.

If you or anyone you know is interested in Scottsdale Real Estate, please check out my website, www.Realestateforsaleinaz.com, and I’ll be happy to help.

Ghostwriter for Jennifer Wilson

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Posted on

September 26, 2018

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