Millennials Are Transforming Home Buying

Audible phone conversations make way for texting, even in the home buying process
March 11, 2015
Millennial homebuying

When it comes to the home-purchase process, there’s some sort of “culture clash” between the Millennial home buyer and the average real estate agent.

According to AOL Real Estate, an NAR survey of the association’s members in 2012 found that only 3 percent of agents were under the age of 30, with 81 percent older than 45. The Millennial, born between 1980 and the late ‘90s, tends to do things differently than the older real estate agents.

"We're seeing a population on the consumer side that is not being served by its own age group," Player Murray, a North Carolina broker, told AOL Real Estate. "It's causing a lot of change in the way experienced agents are having to communicate."

One big difference is the Millennial’s tendency to prefer texting or email over phone calls.

Another example is the younger generation’s preference for transparency to avoid surprises. “I see them wanting to understand what’s going on at any time in the process more than any other generation,” a Redfin agent in South California says. This means charts, lists, and checklists should be involved in the home buying process with Millennials.

Read more


Related Categories