Category: Orlando Realtors

It’s been said by many that the millennial generation, people born between the early 1980s to the early 2000s, will represent over $1.4 trillion in buying power as they come into the real estate market. This group of young adults is soon expected to account for the majority of home sales in Orlando.

Millennials represent the very first generation to be raised from birth in the “Age of Information” making them more technologically advanced than any generation before them. Their vast knowledge of technology changes the way they search for Orlando real estate and how they communicate with real estate agents.

With their mobile devices in hand, millennials are always on the go. That’s why it’s crucial that Orlando real estate agents be mobile-friendly in the tools they use to communicate and deliver information to them.

Texting is a good example of this, over 90% of this age group prefer texting over speaking on the phone. In a real estate market where timing is everything, it’s important to know what the fastest way to reach someone is and for generation Y, texting is it.

Successful real estate agents in Orlando are quick to determine what their client’s preferred method of communication is from the very start of the relationship.

Apps Vs. Websites

A recent study done by Annalect revealed that 57% of the millennial generation would prefer to have an app experience overusing a website. Almost 70% of these young homebuyers used either a tablet or mobile app when they searched for homes to buy.

Mobile responsive sites and home search apps make it quick and easy for people to find exactly what they’re looking for with a minimal amount of clicks. The convenience of it all makes it very appealing to Generation Y.

Millennials also use social media as a preferred method of communication and finding information. An independent study conducted among 2,000 millennials between the ages of 18 and 35 check their smartphones 44 times per day on average.

Orlando Real Estate Through Social Media

The major players in their world are Facebook, Instagram, Twitter, and Pinterest.  As social media surpasses search engines and online news feeds, smart real estate agents in Orlando are going with the flow by providing valuable content through social media sites making it easily searchable by Millennials.

Millennials are impacting the way any business is done, including real estate. To reach this powerful age bracket of future buyers, Orlando real estate agents need to use the same tools as they do. Those who don’t will be left behind.

In an independent study done in 2014, over fifty-seven million Americans lived in multi-generation households 2013. That’s twice as much as in 1980! This rising trend can be attributed in part to families wanting to save money by sharing expenses.

The term “sandwich generation” comes from parents being sandwiched by their kids as well as their own parents. Although it’s not something I would ever do personally, many people not only enjoy saving money, but they actually enjoy being surrounded by their parents as well as their kids every single day…[I know, I don’t get it either]

From my own experience as an Orlando realtor, I’ve witnessed this trend firsthand. Now more than ever I’m seeing multi-generation families buying homes together. It can be a bit challenging when there are more than one or two adults involved, especially when they all have different opinions and tastes.

Finding The Perfect Orlando Home For A Multi-Generation Household

Starting with a family meeting is always a good idea. By speaking with all the adults at the same time we can determine what the specific needs are for each person and consider what options would work for everyone involved without having to make assumptions.

As the buyer’s agent, I must consider things like the floor plan and find out if they prefer an open floor plan or would a home with more distinctive living quarters for more privacy. With the older generation, second-story bedrooms can also be an issue if they have trouble climbing steps. Wheelchair accessibility may also be a concern for some families.

The location of the home must also be carefully considered. If grandpa needs to see his health care physician 3 times per week, they may want to be close to a hospital or public transportation. The same goes for the little ones, where will they be attending school? Does anyone play sports? How far are the parks?

Finding the perfect home for a multi-generational family can be challenging and usually takes much longer than finding a home for a single-family. However, if I wanted to be in a profession that was easy, I wouldn’t have chosen to become an Orlando real estate agent.