Stats show that millennials are the largest group of homebuyers, and have kept that title for about three years now. Due to the fact that most millennials haven’t entered the market quite yet they aren’t planning on giving up the title any time soon. So what does that mean for you as a real estate agent? Luckily, you might not have anything to worry about. It turns out 92 percent of millennials used the help of an agent to purchase their home! In order to take full advantage of this impressing number, you have to know who they are and how they work.
Around 30-years-old is the median for millennial home buyers; working with a median income of around $82,000. One of the main reasons why millennials are wanting to buy is to acquire another title: Home Owner. When looking for potential homes one of the biggest factors millennials take into consideration is the neighborhood their future home will reside in. 99 percent of the time they will look to the internet to search for homes. Millennials tend to choose to work with an agent because of the knowledge an agent possesses to find them the right home.
In order to attract millennials, you need to ensure your website is mobile friendly and easy to use. It’s imperative that you stay on top of social media and local review sites to monitor your online reputation. Millennials like simplicity, so simplify the home buying process such as providing helpful checklists.
Take advantage of the amount of millennials that dominate the real estate industry. Understand how they work and the rest will fall into your hands.