If you want to reach the largest group of prospective first-time homebuyers, your website better be mobile-friendly. Consumers born between 1980 and 1995—also known as Millennials or Generation Y—are entering the peak period when people typically buy their first home, and they’ll be looking to you for help in person and online.
The National Association of REALTORS® 2014 Home Buyer and Seller Generational Trends report sheds some light on this group’s behaviors and expectations.
They want to own property
Gen Y buyers represent the largest group of recent homebuyers (31%) and the largest group of first-time buyers (76%), according to the report. In fact, 87% of buyers younger than 33 considered their purchase a good financial investment.
They talk about you
While Millennials are likely to use the Internet to find professional recommendations, that’s not necessarily the case when purchasing a home. The report found that younger buyers were predominantly referred to their real estate agent by a friend, neighbor, or relative.
– Use the First American title Mobil Business Card App, easy for Gen Y to forward as a recommendation.
– Huge Reason to use Video Referrals at the closing table
They want real estate info on their smartphones
More than half of young buyers reported using a mobile device during their home search and looking online for properties first during the home buying process. Members of Gen Y are also most likely to search online for general information about the home buying process.
– FirstAmerican E-Property Watch – Instant Updates on the properties.