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.
