Millennials Poised to Become Huge Factor in Housing Market Over The Next Few Years

Real estate commission advance companies should start planning now to leverage this potential market bubble fully.

Fairfax, United States – August 1, 2017 /MarketersMedia/ —

As millennials exit the college years and move into the late 20s and early 30-somethings, experts predict many of them will move from rented residences to home ownership. In fact, some reports are calling for roughly two-thirds of millennials to invest in a residential property over the next five years. With 83 million millennials in the United States, according to the U.S. Census Bureau, that’s an awful lot of potential home sales.

Every generation approaches major decisions, such as moving or making large purchases, in different ways, so brokers must understand how to market and sell to millennials if they hope to cash in on this upcoming market. First, millennials, more than any group before them, leverage technology in decision making. For brokers, that means ensuring listings can be found online and creating attractive, fully functional listings that show off the assets of the property. Brokers might consider investing in user-friendly website tools with virtual tour and 360-degree photograph technology, and any online listing must be mobile friendly. Millennials often use phones and tablets to conduct online research.

Younger generations are often visually minded, which means text-based listings aren’t going to perform as well with them as images. Brokers and real estate companies must invest in high-quality photographs of properties. A few snapshots of curb appeal and the family room won’t necessarily cut it, either. Listings should include detailed images in slide-show format to entice millennials to make an appointment to see the property for themselves.

What millennials are generally looking for in a home differs from previous generations, too. Most younger home buyers don’t have the extra cash stashed away to make immediate renovations, so they’ll want a move-in-ready residence that already has a homey, charming feel. With student loans and the rising cost of living impeding their progress, millennials see saving for a down payment as a challenge, so brokers who are able to connect buyers with multiple mortgage options might see more success than brokers who leave financing completely up to the consumer.

As younger home buyers, millennials are less likely to be looking for a life-long home. The vast majority of 20- and 30-something home buyers are looking for small upgrades from their current situation or a starter home, which they want to be able to flip in the future, recouping their investment or making a profit so they can move on the something else.

Real estate commission advance companies can get a head start on this growing slice of the market by understanding millennials and creating marketing strategies with them in mind.

Contact Info:
Name: Scot Small
Organization: Commission Express
Address: 8306 Professional Hill Drive, Fairfax, VA 22031
Phone: 888-560-5501

Source URL: http://marketersmedia.com/millennials-poised-to-become-huge-factor-in-housing-market-over-the-next-few-years/224161

For more information, please visit http://www.commissionexpress.com

Source: MarketersMedia

Release ID: 224161