Top Things Millennials Want in a REALTOR – Real Estate Tools
The projected “millennial home buyers” for 2015 are those in their mid 20’s. They are just starting to get their footing with this “adult” thing, starting to have stable jobs and marriages, thinking about having kids – and they are ready for something a little more permanent to live in. They have grown up on technology and know how to Google like a pro. They are able to get most of what they want in life pretty quickly and are used to getting their way – the “customer is always right” mentality fits them to a “T”.
For more info on the millennial generation, you can check out the US Chamber of Commerce’s Millennial Generation Research Review.
So where does that leave you as a Realtor? Your greatest real estate tools this year will be how well you can relate, communicate, and use technology with your millennial clients.
What are some of the top things millennial home buyers appreciate?
Meet Josh and Audrie,
This cute couple just bought a home a few months ago. They are considered millennials – mid 20’s, recently married, and just starting out in their careers. Josh and Audrie went to college together and got married shortly after. After renting an apartment for awhile, they were ready to start looking for a place that was a little more permanent and private. Thinkers and planners, the future has always been on their mind and they and wanted a place close to work in the city that would be big enough for kids one day.
In an interview with Josh and Audrie, we were able to glean how they went about buying their home.
- One of the reasons they chose their REALTOR was communication.
“He showed us one of the first houses we looked at, and did a good job of staying in touch. He also sent us updated listings directly from the MLS so we could be sure we were getting the most accurate info. Because he was so easy to communicate with, we chose him to be our Realtor.”
- They go on to say that there wasn’t a part in the home buying process that didn’t involve technology.
Their search started online with Zillow, Realtor.com and recommendations from their Realtor. They stayed in contact with their Realtor often via call, email and text. When they signed paperwork they used DocuSign.
“In the whole process (about 9 months) we went to one open house. We made offers on 5 or 6 houses before the one we ended up getting, and for each of those offers we saw the house with our Realtor.”
- For each of those houses, they looked at pictures online.
When asked what made homes attractive to them:
“Most of the homes we looked at were vacant; an investment company had flipped them. The homes that were the most attractive had new appliances and open floor plans. For the homes that were still occupied, it was great to walk into a clean house with furniture arranged in a way that opened up the rooms.”
- Something they appreciated was feeling heard by their Realtor.
They called their Realtor “helpful” because he communicated issues they had with the seller and felt like he got them the absolute best deal. When they expressed how much they were willing to pay and what they wanted in a house, their Realtor took it to heart. He earned their trust by not pushing them beyond their comfort level and doing his best to get them what they wanted.
- If you are looking for advice to give to your millennial clients, Josh and Audrie said:
“One piece of advice we would give to first-time home buyers is find a solid lender. Your Realtor will help you find the house, but the lender will work to arrange the best deal possible for you. Also, be patient. You probably won’t get the first house to put an offer on. You need to learn the market. Know what you want, where you’re willing to compromise, where you’re not, and go for those properties. Put in a strong offer at the very beginning if you can.”
Patience can be hard, especially in this fast paced world we live in. Its important to help any first time home buyer know a timeline for home buying. Its rarely clean cut, without obstacles, or drama free from sellers. Millennials especially are looking to you as the Realtor for reassurance, confirmation, and stability during the ups and downs of home buying.
- One of the biggest assets you bring as a Realtor is your experience.
As a millennial myself, I definitely want guidance and insider tips on how to do the whole process well. Lay out the steps and guide them along the way while still including them in the process and you’ll have very happy clients.
Common denominators to take away:
1. Use technology.
2. Communicate well and often.
3. Be online in as many places possible.
4. Go the extra mile.
5. Listen and respond.
6. Share your experience.