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The Millenial is Smart, Just Inexperienced.

By
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

The Millenial is Smart, Just Inexperienced.

These home buyer/owners will realize their mistake when they attempt to sell and find that the resale on their home is not nearly what they expected when they purchased.

While agents can't predict future value, with experience, a sentient agent can often identify features in a home for sale that could easily affect resale.  We also have extensive databases for historical values that would mitigate against future increases in value.

We know that the Millennial is the smartest of all prospective home buyers.  They make that perfectly clear in our first meeting when they tell us how much they know about real estate rather than asking sensible questions.

Not a problem.  Most experienced agents have learned the value of listening before speaking.

And of course, we can just smile and start our home tour. 

They'll learn.  The Millenial is smart, just inexperienced.  They know that they are ready for
home ownership when they have or are planning a family. 

(Inspired by Joe Petrowsky)

                                               

 

 

Courtesy, Lenn Harley, Homefinders.com, 800-711-7988.  Serving home buyers in MD and VA.

E-mail Lenn 

 


 

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Comments(17)

Jenna Dixon
Momentum Real Estate Group LLC - Marietta, GA
55 & Over | New Constructions | Horse Farms

Inexperienced is right!  It's easy to look at homes online.  Understanding value, mortgages, inspections, timelines, contingencies...perhaps a little more complicated than ZTR lets on.

Jan 14, 2015 11:52 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Jenna.  Indeed it is and smart buyers realize that once they have taken a tour with a sentient agent.

Jan 14, 2015 11:58 PM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

I'm sadly a part of this group of know it alls...they say much of wisdom lies in knowing what you don't know - I'm sure eventually they'll (it irks me to say "we'll") figure it out.

Jan 15, 2015 01:25 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Part of the training for Master Certified Negotiation Expert® (MCNE®) covers the Millenials.  Of course all the generations are covered.  In general, the Millenial is not tied to home ownership like a boomer is. ...Of course there are the exceptions.

Jan 15, 2015 02:32 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

John.  Knowing what you don't know is ideal.  Not knowing what you don't know is typical.

Sheri.  There are exceptions to every rule of real estate practice.

Jan 15, 2015 02:44 AM
Michael O'Donnell
Berkshire Hathaway Home Services Arizona Properties - Scottsdale, AZ
GRI, ePRO, Accessible Homes

Lenn, you have absolutely nailed this one.

I'm reminded by younger clients that we live in an Information Age. Google and YouTube are all that are needed to live and prosper in this Age.

What millenials (and others) too often forget is that much, or most, of that information comes without context or perspective.

And so you and I re-educate, and have careers doing what prognosticators predicted would die in the Information Age.

 

Jan 15, 2015 02:49 AM
Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

Hasn't this always been the case with the first time buyer... however 35 years ago when I began they didn't have such a fancy name... Millenials

Jan 15, 2015 03:11 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Michael.  We do indeed live in an information age and agents HAVE that information.

What buyers get on the Internet is often raw data; listings, loan examples, etc.

Only and agent can translate that data into information that fits THAT buyer's needs.

 

Jan 15, 2015 03:39 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lenn I face the same thing on the mortgage side.  They start off trying to show me how much they know and just smile, because I know as we go through the process they will start to see they do not know as much as they think they do.  But that is something you can't tell them, they need to learn it for themselves along the way.

Jan 15, 2015 04:02 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

George.  Sometimes, the Devil makes me do things.

If a prospective buyer is at all "all knowing", I just may ask them an "innocent" question about real estate in the area so far over their head it leaves them speechless. 

Sometimes, a "slap down" works.

Jan 15, 2015 05:08 AM
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

I had a millennial the other day accompanying my client and he told me he saw a home inspection once and so he knew all about it.

Alrighty then.

Jan 15, 2015 06:25 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Lenn- it is a wise person who knows that what they don't know can come back to bite them in the behind. 

Jan 15, 2015 11:42 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Jay.  Note to file:  Note to file:

Home inspection recommended by agent on January XX, 20XX.

Inspection declined.

 

Agent_______________________ Date _________________________

Jan 15, 2015 08:21 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Kathy.  The new wisdon appears to be "caution to the wind".

 

Jan 15, 2015 08:33 PM
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Like it!

Jan 15, 2015 08:46 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Lenn,

This post is right on..love Jay Markanich's comment and your retort..LOL!

It all comes down to "Most experienced agents have learned the value of listening before speaking." You Nailed It!! 

Jan 15, 2015 08:51 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Dorie.  This is the age old wisdom of learning more by listening that talking.

 

Jan 15, 2015 09:06 PM