Real estate easily changes and adopts to trends that buyers are searching for, it's why the industry is so fast paced. While it may sound overwhelming, it is the beauty of this business. As millenials are beginning to buy homes and saturate the market; what they want is important. So, as real estate agents, it's important to know the latest millennial home-buying real estate trends.
Real Estate Trends: What's With Millennials?
New Homes, New Technology
A large part of millennials aged 27-36 are fond of smart home concepts. Many buyers want to own a house that can give them "extra" security, control, and monitoring. Here are some examples of the new real estate trends:
- Specialized closets
- Water detection
- Electrical monitoring
That is to say, buyers want a house that can help them minimize the maintenance and upkeep. Through the help of technology, they can have it. Millennial buyers are also comfortable with technology as a whole. So, they look for a home that will keep up with the newest technology and innovations!
Gone are the days when smart door locks and Amazon Alexa are the only trends.
For Millenials, Real Estate Is Digital
Anything should be online - at least for millennials. Even the house tours done online are more popular as they can fit into anyone's schedule. As a result, digital home buying is one of the new real estate trends.
So, as a realtor, be ready to meet that expectation. It only means growing the realtor's online presence. No matter what age group an agent belongs to, they should have at least these three:
Thus, always try to be updated with the latest social media trends. That way, agents can win the hearts of their millennial clients.
Real Estate Trends: Millennial Wants
Buying a home is not only about the appeal it gives the buyer. Clients, especially millennials, choose a home that can give them their lifestyles. To better understand, keep scrolling!
Millennials Want A Sustainable Community
It's no surprise that more and more clients are going green. For example, a common feature that a buyer looks for is solar panels. Hence, it motivates the clients to buy the house because it gives a double-sided advantage.
- First, solar panels can cut their electricity bills up to 50%.
- Second, it sustains the energy needs of a community.
Experts also say that solar panels and other similar projects are the future of real estate.
Healthy Living Is The New Norm For Millennials
This group has set the record straight. They put their health at the top of their priorities. But, what do millennial home buyers want? Millennials want to live in a house that has easy access to healthy activities.
To clarify, here are some activities that every agent should highlight in a property:
- Nature Trails
- Fitness Studios and Gyms
- Bikeable and walkable places
When working with millennial clients, it's important to know that they want to work with an agent to help them achieve a better life.
Pro tip: Try to search Elite Informer's "The Market Series." It will help realtors from different places know the best feature of their location.
Millennial Home-Buying Trends
Here some of the real estate trends that realtors must consider for millennials:
Great location - Millennials are likely to buy based on location. They often want to live close to their work and hobbies.
Big kitchen - This generation gives value to the community. So, they want a place where they can entertain people. For example, the floor areas of the kitchen, dining, and living areas are all connected - for bigger space.
Modern amenities - NAR said that most millennials want to stay in a house with access to personal amenities. That is to say, homes with laundry rooms, space to exercise, garages, and even dishwashers.
Big open spaces - Remember that these clients and homeowners love to entertain guests. Sometimes, the first thing they look for is a big place where they can invite guests and throw parties.
Millennial Home-Buying Trends: The Last Thing To Know
Now, it's time to take note of these marketing tips:
- Make sure to have a social media account. Millennials stay longer on social media sites like Facebook, Instagram, and Twitter.
- Millennials appreciate agents who can text and communicate quickly!
- Always ask for their thoughts and opinions. They want to be included - show they matter. Respect their new and even out-of-this-world ideas. Do not forget that this industry will continue to grow and change. What matters most is how agents accept the changes and turn them into strengths.
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