I was at an event last week and one of the speakers, very profoundly, said that statistics bear out that Millennial home buyers are behaving much as their predecessors did when it comes to home purchases and other life decisions. They might be making these decisions a little bit later, due to social norms and student debt, but they are, nonetheless making predictable choices. The negative/antecdotal info about the way they behave can really be attributed to a small percentage of the group. My thought is that the same was true of every other group in history. Wasn't there a group of Baby Boomers that bucked social norms and married later and didn't follow the path of their parents?
Working with Millennials is like working with any other client.
- They save money and work hard to get to the point of buying a house.
- They call me based on a recommendation from a friend or relative.
- They provide me with listings that show properties that interest them.
- They look for advice on a lender and other contractors.
- They are thoughtful in their searches.
- They make themselves available when good properties come on the market.
- They take advice about strategies and responses.
- They do the work necessary to get to close.
- They buy houses!
These activities are nearly identical to those in ANY other demographic. The truth is that most Millennials are first or 2nd time home buyers and THAT is what makes them different as a group.
I used to think the big difference in working with Millennials was that they needed to be texted when I sent emails, but now I am finding that people from all generations are more attentive to texts than to emails. It has become a regular part of my business model to text when I need a response to something more fully explained in an email or when I send an email link for document signing. This is just the evolution of business.
Let's stop making fun of the 'Millennial Buyer,' and start recognizing them as the hardworking clients that they are!
And any of you Millennial Buyers out there---I would love to help you buy your first home!