If you’ve entered the real estate market, as a buyer or a seller, you’ve inevitably heard the real estate mantra, “location, location, location” in reference to how identical homes can increase or decrease in value due to where they’re located. Well, a new survey shows that when it comes to choosing a real estate agent, the millennial generation’s mantra is, “local, local, local.”
CentSai, a financial wellness online community, recently surveyed over 2,000 millennials (ages 18-34) and found that 75% of respondents would use a local real estate agent over an online agent, and 71% would choose a local lender.
Doria Lavagnino, Cofounder & President of CentSai had this to say:
“We were surprised to learn that online providers are not yet as big a disruptor in this sector as we first thought, despite purported cost savings. We found that millennials place a high value on the personal touch and knowledge of a local agent. Buying a home for the first time is daunting, and working with a local agent—particularly an agent referred by a parent or friend—could provide peace of mind.”
The findings of the CentSai survey are consistent with the Consumer Housing Trends Study, which found that millennials prefer a more hands-on approach to their real estate experience: Buyer Agent
“While older generations rely on real estate agents for information and expertise, Millennials expect real estate agents to become trusted advisers and strategic partners.”
When it comes to choosing an agent, millennials and other generations share their top priority: the sense that an agent is trustworthy and responsive to their needs. Buyer Agent
That said, technology still plays a huge role in the real estate process. According to the National Association of Realtors, 95% of home buyers look for prospective homes and neighborhoods online, and 91% also said they would use an online site or mobile app to research homes they might consider purchasing. Buyer Agent
Many wondered if this tech-savvy generation would prefer to work with an online agent or lender, but more and more studies show that when it comes to real estate, millennials want someone they can trust, someone who knows the neighborhood they want to move into, leading them through the entire experience.
Why You Should Consider A Real Estate Agent
Purchasing a home is for most people, the single largest investment they will make in their lives. How will you approach the most important financial decision that you might ever have to make? Buyer Agent
A labyrinth of obscure rules, regulations, and unscrupulous sellers looking to make a quick buck await you entering today’s property market. Every year, the lure of a fast, profitable deal without professional assistance leaves many prospective home owners disappointed, paying out of pocket and having wasted countless hours.
The services of an experienced real estate professional can help you navigate your way through every problem listed above. Buyer Agent
You need an expert guide when traveling a dangerous path. Why do mountaineers aspiring to climb Mount Everest rely on the services of Sherpa guides? The former are experienced climbers themselves, and spend at least months training before attempting that iconic climb. Yet they defer to the skill and local knowledge of this particular group of people. Buyer Agent