Will Millennials Dominate the Real Estate Market in 2017?

Will Millennials Dominate the Real Estate Market in 2017?

We’ve heard a lot of flack for millennials lately and it’s true that many whine when they just don’t get what they want but there is also a large group of this demographic really making a name for themselves. There are slackers in every age group but millennials are starting to surprise us by buying their own homes early, even before marriage and a family, something that most baby boomers didn’t do.

Millennials are this age group born between 1979 and 1991 so many are now between 25 and 35 respectively, and they’re looking for homes. They know the market may continue to rise and they want in. This demographic represents nearly 52 million first-time home buyers; not a number we want to leave out.

This homeownership-hungry group is tech savvy, upbeat and self-expressive so treating them in a condescending manner means they will simply go elsewhere. We must embrace this group and really respect those that are thinking outside the box. We also must keep up with the rapidly changing techniques that are available today.

[Read more: 4 Super Smart Home Buying Strategies]

As a listing agent, it’s my job to create 3-D driving tours or drone tours of a particular neighborhood, provide rapid responses via text and be the first to jump on new listings by having alerts ourselves that inform when a listing they might like hits the market. Too slow and they’ll find some other hungrier agent. We have to be on top of things. Millennials don’t care about our job personally, they want the house and they want an agent that can get it for them. This might sound like the “I want what I want and I want it now” mentality but it’s all perspective. It’s the “I am confident and I want a confident agent that knows what I want and can get it for me” attitude. No one wants a lackadaisical agent that is too slow on the draw and loses out on every offer. Millennials are just more vocal about it. They don’t beat around the bush. Can you find me the house or not?

Millennials also educate themselves. We live in an era that self-diagnosis on a whim because we have 18 billion websites at our fingertips. If you’re not educated and can provide unique information to this group of buyers, you may find yourself also being educated – by your client.

It’s time we stepped up and provided this demographic with the knowledge we have and the skill-set we provide in a timely manner, otherwise, we may be left with a demographic that already owns houses and doesn’t really need our business.

More on Millennials:

Why LoudOUn County is perfect for Millennials

Independent Millennials are Changing Real Estate

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