Millennials in the market

The KCM Blog - NAR: Millennials in the Market

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NAR: Millennials in the Market Posted: 29 Aug 2013 04:00 AM PDT Today, we are honored to have Justin DeCesare, CEO of Middleton & Associates Real Estate in La Jolla, as our guest blogger. Justin has written a manual for new agents that is a must read for the new technology centered Real Estate market. It is available online in both print and Kindle editions. – The KCM Crew According to the National Association of Realtors’ 2013 Home Buyer and Seller Generational Trends study, the average Millennial home buyer (32 years old or younger) purchased a home within 8 miles of their previous home, whether leased or owned. To put icing on the cake for all of the incredible lead converters out there: 69% of Millennials contacted and worked with just one agent in the home buying process. This is a higher percentage than any other age group in the survey. Furthermore, 59% used the same agent to sell a home as when they purchased. Again, the highest of any generational group. Why is this important? It proves once and for all that there isn’t some mythical land where young home buyers will come from. We are right in front of you, working in the communities we live, and where we plan on staying for a while. No media article or pundit can take away from what quantified studies prove.  Contrary to certain media opinions, Millennials are not fickle narcissists who only care about themselves: We as a generation want an agents’ experience in negotiations, not their beliefs about what THEY think we need. Millennials are an important part of the market, and like anyone else, we will use the agent that best suits our needs. Most likely, that agent will be someone who listens, understands why young home buyers are purchasing, and understands they are an advocate for their clients. You don’t need to reinvent the game.  Do what you do best. Take young home buyers seriously, and be visible…on the internet AND in your community. Now, when a young home buyer approaches you at Starbucks with Beats™ by Dre headphones and Rayban Clubmasters® on, don’t dismiss them. They may have invented a website worth billions or just be hard working professionals. But, at some point, they realize it is time to buy their first home and start a family as has every other generation throughout history.

 

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