Millennials part 3
At this point we know what millennials want, lots of
amenities, smaller, flexible spaces, historic structures and socially engaging neighborhoods
all in the right price range. We also
know they are in direct competition with baby boomers for these properties at
some what of a disadvantage because of there lack of savings and slower
economic growth and their lack of experience in negotiating for what they want.
Millennials are now the biggest group of home buyers in the market and they are
changing things including how agents do business.
According to NAR survey only 3 percent of agents are under
30 and 81 percent are over 45. That
means many old dogs have to learn some new tricks. To say millenials are technology
savvy would be an understatement. More
than 50 percent of millennials search for homes on their phones and among
those, 26 percent end up buying a home they found that way, according to
National Association of Realtors. Millennials rarely need agents to find homes
for them, they usually have their own list, and they’ve already researched
comparable sales and chosen a neighborhood.
“With millennials, we do not control information,” Says Player Murray, managing broker at
Berkshire Hathaway HomeServices. “what
they need is for us to interpret the information.” But that isn’t always easy for agents
either. Millennials don’t want to
talk. They would rather email or
text. Murray says “they don’t want to be bothered
with conversation of it can be texted.”
Which can be a real challenge for agents who have spent most of there
careers on the phone with their clients.
Agents also have to learn to use social media in new and creative ways
in order to keep millennials engaged. “They
need to feel like they’re a part of your business.” Murray says.
“Just re-posting an article that’s been posted 1,000 times across the
country isnt enough.”
With all that said millennials are still the most likely group
to use agents to buy a home. They are
more likely to buy a fixer and value the advice, resources and referrals an experienced
agent can provide. They are also all
very new to the home buying game and although there may be a huge disconnect
they still need the help. So agents are
changing the way they do business and trying very hard to understand the
Tweets, short cryptic emails and acronym laced texts. Agents are getting apps for their businesses and
hiring social media marketing experts.
It just goes to show you can teach an old Dog new tricks.
Cynthia Schmier, Broker/Owner
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com
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