The Millennial generation is no longer comprised of college students. The generation that was born between 1981 and 1996 is now in their 20s to their late 30s, and this demographic is either already part of the homebuying market or on the cusp of entering it.
Millennials are expected to soon outnumber Baby Boomers, and many people in this group are very motivated buyers. They’re also discerning and often have priorities that are different from their predecessors.
From having the right real estate technology to connect with Millennial buyers, to their likes and dislikes in a home, what should agents know in 2020?
Millennials May Take a More Active Role
The way Millennials work with their real estate agent has changed. Millennials are more likely to be active participants in the entire home-buying or selling process, and while they do still prefer working with an agent, many younger buyers take it upon themselves to learn about the market.
Millennials are very tech-savvy, and they want things done quickly as a result of their connection with technology, so as an agent you are likely to be expected to ensure things move along quickly and seamlessly while also keeping your client in the loop throughout the process.
This age group may also be pickier as far as choosing an agent. There was research conducted by Zillow Group which revealed that Baby Boomers who wanted to buy a home interviewed an average of 1.6 agents before selecting one to work with while Millennials interviewed an average of 2.7 agents.
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