IARP weighs in on the Urban Land Institute’s report that millennials will be the new generation of home buyers.
According to the Millennial Home Buying Trends Report, millennials made up 43 percent of all mortgages at the end of 2018. With their incomes increasing and their families beginning to grow, it’s really no surprise that millennials are making up the key share of buyers. And, International Association of Real Estate Professionals (IARP), foresees that because of the needs and wants of this new generation of buyers, 2019 will begin to see a shift into suburban areas with their eyes set on single-family homes.
With that being said, it will become increasingly more important to understand this new age of buyers. IARP conveys that there are a few ways for real estate professionals to understand and connect with this new market. First, making a genuine connection and establishing trust from the jump will be the most important part of securing clients. Be honest and sincere, authentic, original and empathetic. Show a human side to you that showcases that you’re more than just a real estate agent.
Another hook to catch these buyers will be web and social media based. Millennials spend a lot of time on their phones and gadgets. They’ll be searching for agents and brokers online with a social media presence or a large “following”. Popularity establishes credibility in the eyes of this generation. They will also look online to see if you have good reviews and/or testimonials. IARP suggest that you create a website or real estate page where you can display positive testimonials from previous clients.
It’s also safe to say that many of these new buyers are going to be purchasing their first home, so expect many questions. They are looking to you to be their expert so make sure you stay up to date on the latest housing trends and market projections. Back up your answers with online information links that they can access for themselves if they want to know more.
International Association of Real Estate Professionals (IARP) explains that understanding the way millennials maneuver through the housing market is going to be essential if an agent wants to remain relevant and prosperous in the coming years. To learn more visit www.iarp.com