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Millennials and the Home Buying Process

Last month I told you we would dig into Millennials and how they are affecting our Real Estate market.  I have heard many professional opinions and speculations, and my research pretty much backs it all up…Millennials make up a very large portion of the Real Estate market and they are changing the way we do things.

There are many articles explaining how this group of extraordinary people is literally cultivating a brand new path for the way Realtors conduct their businesses.  It seems unlikely that “a generation” can make such an impact, but we can actually see it happening.  They do everything different than their predecessors.  It’s intentional and their efforts to change the world are undeniable.    They are techy, they are ‘Googlers’, they are researchers and they are our future leaders.  I think it is in our best interest to try to understand them. So we can watch, learn and adapt; or get left in the Stone Ages.
Forbes writer Andrew Arnold hit the nail on the head with his article 80% Of Millennials Want To Buy A Home And Virtual Reality Is Upending The Process when he said “For the millennials that are able to get out on the market and look for a home, the process will look much different for them than it looked for their parents or grandparents. One reason for this is the relatively new introduction of virtual reality (VR) technology into the real estate market.”  Simply put, they find it all online.  Social media is our world and they navigate it better than any other age group.

I looked at some of the things Inc.com had to say and I’m sure you won’t be any more surprised than I was.  Here is what John White, Founder and CMO, Social Marketing Solutions at Inc.com had to say…”Today, younger Millennials are purchasing their first homes and older ones are already moving on to buying their second. Millennials are known as the generation that will buy a $200 pair of jeans after extensive research and trying on 67 different pairs to find the exact right ones. The way they shop for homes is no different!

This research-driven culture is supported by the internet where everything they could ever possibly want to know is right at their fingertips.The most surprising thing about the way Millennials buy their homes is that they actually want a realtor to help guide them through the process, but that’s not the only generational shift here.
Of course I’m hanging on the last sentence.  To me this is a brilliant decision…they use a professional to help them.  What I see happening is they research and figure out what they like and where they want to be, then they hand a Realtor their wish list and let us do what we are educated and licensed to do…find them an amazing new home.

There is much to learn from Millennials and since I am a huge advocate of learning and growing, I’m personally intrigued.  So come on Millennials…let’s build the economy and Real Estate market together…let’s find you a new home.

If you like my articles, ideas or want to hear more about our market, you can follow me at Brande Bree Your Realtor of The Upstate on Facebook, and of course you are welcome to contact me directly.  I’m always happy to answer your questions, tell you what your home is worth and handle all your Real Estate needs.  I look forward to hearing from you soon!

Call or Text me at 864-982-2272 and let’s get this year started off right.
Follow me on Facebook @ Brande Bree your Realtor of The Upstate
Check out my website @ bgorham.exprealty.com

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