By Jessica Botkin
From the inside out, millennials are changing the way real estate professionals do business. With thousands of property search apps available to them, millennials literally have an incredible wealth of real estate information at their fingertips. In fact, mobile searches are now the No. 1 way consumers look for a home.
This popular trend further stresses the personal touch and expertise a real estate agent can provide; no longer can agents simply pass property information to prospective clients or unlock doors, (there are apps for that). Instead, they must stress their value to the consumer as a real, live source of information that is tailored specifically to the needs of the consumer.
Still, consumers armed with information is not a bad thing. It’s refreshing to walk into a meeting with a potential client who already knows something about the market. It helps us, as agents, to delve deeper into the home that will fit the client knowing he or she is well aware of some options that exist.
Even the struggles and triumphs of millennials seemingly dictate the real estate market. Emerging into adulthood in the midst of a widespread economic crisis, most millennials are not financially stable, are struggling to find a job, and probably either renting somewhere cheap or living with their parents to save money. Those who do have a stable job are well aware of their advantageous — and potentially fleeting — position, and homeownership is far from their minds. Yet, the tides are changing as the economy stabilizes and, slowly but surely, millennials are entering the housing market. (And it’s a good thing, too. With a population of more than 68 million, millennials comprise the largest demographic with the most buying power.)
Additionally, millennial preferences are different from those of generations past. At the heart of their home expectation beats a vibrant social life, and so this age group cares more about walkability to restaurants and shops, the entertainment spaces within a home, the size of the kitchen and the layout of outdoor dining areas.
As both a real estate agent and millennial, I’m excited about the changes the world of real estate is experiencing and cannot wait to see what happens next!
JESSICA BOTKIN is an agent with Berkshire Hathaway HomeServices Professional Realty in Dayton, OH.
To contact Jessica, send her an email, Jessica.Botkin5@gmail.com, or find her on Twitter, @Jessa8576.
Respond to Millennials: Changing the Face of Real Estate