The Millennials are Savvy Buyers
The generation of potential buyers born between 1980 and 2000 are referred to as the Millennials as they were born within the span of Millennial change. Another term for them would be Generation X. I believe both to be wrong as they are best known as the Tech Generation.
I have had 4 of such clients within the past 6 months and each have been uniquely different, yet common for their use of technology to work their way through the process and as a primary method of communication.
This range of buyers use the Internet for all their needs, and their Smart Phones are the conduit preferred. In dealing with them, it is inevitable that text is the preferred method of communication, and although they are using a phone, there is a hesitancy to actually talk. I am not sure if it's the fact that they get to see their communication before they send which makes them hold back, or just a reluctance for their voices to be heard, literally.
As we all know, with a real estate transaction, there are always issues that need complete and detailed communication to resolve and not always is this done best with a few key strokes, as questions generate additional questions and a tone of voice would demonstrate a need for more clarification.
My Millennial experiences were with educated people that had done a lot of homework online and also used search sites as a way of eliminating potential properties. They were prepared to consult with a mortgage professional and also had done some of this homework in advance. A couple of them were even familiar with the Buyer Representative agreement as they had done their reading as well.
The Millennials are motivated once they make the decision to purchase and aside from the idiosyncrasy of texting are most responsive when called upon to act. For me they are a challenge as I tend to be very descriptive when discussing real estate and find it difficult to do on a qwerty board.
I have enjoyed my experiences with this most challenging Generation of savvy buyers, yet look forward to my next transaction with them.
The Millennials are a Savvy Generation of Buyers