Millennials, also known as Generation Y, were born between 1980 and the mid- to late 1990s. As the first generation raised in the Information Age, they’re far more comfortable using technology and the Internet than any prior generation.
As millennials come of age as consumers, their preferences are starting to shape how companies conduct business. In the last few years, millennials have entered the real estate market—and they’re changing it.
The Age Disconnect
The real estate market has an age gap between agents and this growing crop of buyers. Smart agents are changing the way they communicate, and even what services they provide, to meet the demands of these younger clients.
These Aren’t Your Grandma’s Phones
The most obvious shift between millennials and prior generations of homebuyers is the ways they communicate and get information. It’s tough to catch a millennial without his or her smartphone, but they’re not using them to talk. They’re surfing the Internet, checking out mobile-friendly real estate listings and emailing agents.
They Google It… ALL of It.
With sites like Google, Zillow, and Redfin at their fingertips, millennials don’t need real estate agents to find them a house. By the time a millennial contacts an agent, they’ve probably already selected an area, researched schools, found a list of homes they’d like to see and even run their own comps.
Younger homebuyers need agents for other things, such as interpreting the massive amount of information they’ve found online and explaining the home-buying process. They need help going over contracts and finding other professionals (lenders, inspectors and title insurance companies in Middle Tennessee).
What Generation Y wants is customer service. Oh, and they want it now.
Do you remember waiting for a dial-up Internet connection?
Millennials don’t. They grew up on lightning-fast Internet, and they’re used to finding what they need quickly and efficiently – and for the most part, they don’t need the same amount of help as Generation X or those who came before (wasn’t that the Stone Age?).
Millennials Are Mobile
Millennials are on the go, smartphone in hand. If there’s an app, they’ll use it. And they will expect YOU to be tech savvy as well. That’s why we have invested in the SmartAgent APP. They’ll also use their phone to search for your Web credentials, so be sure you have the information they want. That includes:
- An active Facebook page
- A mobile-friendly website that includes testimonials
- Positive reviews on Google, Yelp and other review sites
Even Though Times Change…
…some things will always be the same. The customer service aspect in the real estate industry will never change, and we’ll continue to adapt as our clients’ needs evolve.
If you need to work with a strong title and escrow company, we’re here. Call us at 615-393-6222 or contact us online. We’d love to show you how Smart Title is different, and we look forward to the opportunity of serving you.