Millennials Recognize Value of Working with a REALTOR®
Millennials now represent the largest share of home buyers and are more likely than other generations to recognize the value of a REALTOR® in navigating the process.
According to the 2015 National Association of REALTORS® Home Buyer and Seller Generational Trends study, close to one-third of home buyers in the last year were those 34 and younger. Home buyers ages 35-49 were the second largest group in the study. A desire to own a home, job-related relocations, and changes in family situations continue to be leading reasons for purchasing a home.
The survey found that an overwhelming majority of buyers search for homes online and then purchase their home through a Real Estate agent. Ninety percent of Millennials used an agent to purchase their home, recognizing the benefit of using a REALTOR® to guide them through the entire buying process-from constructing a good offer to helping them stay focused on what all has to be done between acceptance of the offer and the closing.
A combined 60 percent of responding sellers found a Real Estate agent through a referral by a friend, relative, or neighbor, or used their agent from a previous transaction. Eighty-three percent are likely to use the agent again or recommend their agent to others.
The 2015 NAR Home Buyer and Seller Generational Trends study is posted at: http://www.Realtor.org/reports/home-buyer-and-seller-generational-trends.
Source: National Association of REALTORS®