millennials real estate

Millennials use their smart phones extensively in the homebuying process and use apps for research. Photo: Garry Knight

For years, millennials have largely been thought of as renters, not buyers, but that has changed. Millennials, born from the early 1980s to the early 2000s, now represent the largest group of homebuyers in the U.S. at 32 percent, taking over from Generation X, according to the 2015 National Association of Realtors (NAR) Home Buyer and Seller Generational Trends study, which evaluated the generational differences of recent home buyers and sellers.

This matters because the way millennials buy real estate is markedly more technology-driven than older generations, and Realtors need to adapt to their style if they want to keep up, says David Maez, Broker and Co-Owner at VIVO Realty.

“There’s lots of frustration among older agents in working with the millennials, but they’re not going away and agents need to learn to adapt,” Maez said. “It’s exciting because of all of the technology that’s available to us to make it easier to buy and sell properties. How people buy properties is going to continue to evolve on the technology level.”

millennials real estate

Take, for instance, the telephone. Many Realtors are used to speaking with clients, but millennials are much more into texting.

“With millennials, you have to communicate how they want to—they are big on texting and many don’t even answer their phones,” Maez said. “Some agents have had success using Facebook messaging because [their millennial clients] are not checking their email, either.”

The smartphone is key to a lot of the differences in millennial real estate patterns. More than half of them search for homes on their mobile phones and 26 percent of those buy a house they found that way, according to research from NAR.

(more…)

Photo: Dwell Magazine

The Monogram Modern Home pre-fabricated modern home has made four stops in American cities so far. It will be in the Dallas Design District Aug. 21-22. Photo: Dwell Magazine

If modern design makes you merry, then the Monogram Modern Home Dallas event is a must-attend Aug. 21-22.

Popping up for one weekend in the Decorative Center Dallas at 1617 Hi Line Dr., the Monogram Modern Home is a pop-up, pre-fab modern home, host to a series of events, including culinary tastings, product demonstrations, and Continuing Education Credits (CEUs) for accredited industry professionals.

The event is part of a partnership between Dwell Magazine and Monogram Appliances that takes them on the road to six U.S. cities in six months: Portland, Los Angeles, Phoenix, Austin, Dallas, and Boston.

“The goal of the Monogram Modern Home is to get the Monogram brand in front of as many design-oriented consumers and professionals as we can—that’s why we decided to take it on the road,” said Michael Mahan, General Manager for Monogram. “We’ve partnered up with Dwell to offer CEU credits at each of our locations so designers can come in, get their certifications they need for the year, and enjoy a great day with the Monogram brand.”

(more…)

Millennials texting

Millennials use their smart phones extensively in the homebuying process and use apps for research. Photo: Garry Knight

For years, Millennials have largely been thought of as renters, not buyers, but that has changed. Millennials, born from the early 1980s to the early 2000s, now represent the largest group of homebuyers in the U.S. at 32 percent, taking over from Generation X, according to the 2015 National Association of Realtors (NAR) Home Buyer and Seller Generational Trends study released today, which evaluated the generational differences of recent home buyers and sellers.

This matters because the way Millennials buy real estate is markedly more technology-driven than older generations, and Realtors need to adapt to their style if they want to keep up, says David Maez, Broker and Co-Owner at VIVO Realty.

“There’s lots of frustration among older agents in working with the Millennials, but they’re not going away and agents need to learn to adapt,” Maez said. “It’s exciting because of all of the technology that’s available to us to make it easier to buy and sell properties. How people buy properties is going to continue to evolve on the technology level.”

NAR graph

Take, for instance, the telephone. Many Realtors are used to speaking with clients, but Millennials are much more into texting.

“With Millennials, you have to communicate how they want to—they are big on texting and many don’t even answer their phones,” Maez said. “Some agents have had success using Facebook messaging because [their Millennial clients] are not checking their email, either.”

The smartphone is key to a lot of the differences in Millennial real estate patterns. More than half of them search for homes on their mobile phones and 26 percent of those buy a house they found that way, according to research from NAR.

(more…)

Home For Sale yard Sign

After living at 7303 Coronado Avenue for 16 years, Karen Nealy decided to try and test the waters to see if she was ready to sell her home in Lakewood Hills. She’s been looking to move closer to the lake, perhaps Rockwall, with plenty of room to roam around.

“We almost bought a house yesterday that we really liked,” Nealy said a week or so ago. That’s what prompted her to “test the waters” and put her three-bedroom, two-bath home on the Lakewood Online Yard Sale Facebook page without the help of a Realtor. Since then she’s put it up as For Sale By Owner on Zillow, advertising the 1,504-square-foot traditional for $299,900.

“We know Realtors can get it out there to more people,” Nealy said, but she is doing a more improvisational trial and error approach to selling her home, which she calls a “fixer-upper.” She thinks it’s a fantastic property to add on to, perhaps for a family that wants to be inside the Lakewood Elementary School attendance zone.

Do-it-yourself listings on social media is a growing trend, but will it end up costing sellers in the long run?

(more…)

Wow. In seven short years we have gone from 71% of buyers seeking properties on the web to a full 99%. The sharp agents now are also posting homes on Google, FaceBook, YouTube and Twitter. And internet advertising is a fraction of what it costs to advertise in magazines and newspapers. Plus it saves trees!