RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Generation Y – An Opportunity and a Challenge

Home Best Practices
May 19, 2013
Reading Time: 2 mins read

RISMEDIA, June 15, 2009-Over the next several years all real estate markets will begin to feel the effects of the Millennium Generation’s presence; many major urban markets already have. Born in 1978-1987 (now 22-31 years old), Millennials number 72 million strong in the U.S. and 2 billion globally – an increasingly powerful economic force. For many real estate professionals, a substantial part of future success will depend on successfully adapting sales and marketing strategies to fit the needs and desires of this new wave of first-time buyers. Although stereotypes seldom fit any individual perfectly, clear trends exist which have direct bearing for real estate professionals.

Fast Paced and Tech Savvy

This group has no recollection of the “BC era” – before computers. They grew up with video games, the Web and have enjoyed access to information on a scale which was unimaginable to prior generations. The result? They move fast and expect the same of others. Texting and emails by cell phone is second nature to them. If you intend to serve this group, you need to be highly accessible and quick to respond. If you have a minimal web presence you may not be noticed – the group thrives on social networking, online classifieds, blogs, etc. Virtual tours are a must for listings – YouTube is a hobby for this group.

Confident and prepared

They know how to locate information and are used to doing research – the web is their playground. They will likely know information on comparables, school districts, etc. so don’t assume that providing such baseline information will be perceived as highly valuable. Although you will always need to be prepared to cover the basics, it may be more important to be prepared to discuss issues like proximity to public transportation, shopping/entertainment centers, heath clubs, etc.

Tastes and priorities differ

Unlike prior generations, a home in the suburbs on a half-acre lot is not currently, and may not be in the future, a dream destination for the Millennium Generation. Instead, condos and townhomes which are close to work, shopping and entertainment currently dominate their preferences. “Wired,” close to public transportation, flexible living space, green and low maintenance are also strong themes among the group. Success with this new group of buyers will require many agents to adapt their thinking and approach. One-third of the Millennium Generation are minorities. So adapting to diverse styles, backgrounds, tastes and needs will be a key for future success.

The good news is that a large and powerful group of first-time buyers will soon rapidly emerge. The challenge will be that, like each successive generation, they will represent a somewhat different set of values, needs and desires than prior generations. And those differences represent both an opportunity and challenge for real estate professionals.

ShareTweetShare

Related Posts

How Roof Color Could Spur Faster Sales and Higher Offers
Agents

How Roof Color Could Spur Faster Sales and Higher Offers

September 30, 2025
teams
Agents

Top Agent Teams: What They Really Need From Their Brokers

September 29, 2025
REsides
Agents

Harnessing the Power of Data to Fuel Success in a Competitive Market

September 29, 2025
RISMedia’s Contract & Commission Study Examines ‘Workarounds,’ Post-Settlement Shifts
Agents

RISMedia’s Contract & Commission Study Examines ‘Workarounds,’ Post-Settlement Shifts

September 26, 2025
MLSs That Don’t Lead Are Hurting Your Growth
Best Practices

MLSs That Don’t Lead Are Hurting Your Growth

September 26, 2025
Building Relationships, One Conversation at a Time
Best Practices

Building Relationships, One Conversation at a Time

September 26, 2025
Tip of the Day

Connect With More Leads Using REW Dialer’s Caller ID

REW Dialer’s Caller ID lets agents display their own number, helping increase answer rates. It’s the only dialer that combines automation and call tracking while allowing agents to use their personal number. Learn more.

Business Tip of the Day provided by

Recent Posts

  • FTC Sues Zillow, Redfin Over Alleged Anti-Competitive Agreement on Rental Listings
  • How Roof Color Could Spur Faster Sales and Higher Offers
  • Minnesota’s Top eXp Team Going Independent

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X