Understanding Millennial Homebuyers

Millennials, adults ranging from 18-34 years old, have officially become the largest generation in America - and they now account for the largest sector of homebuyers. According to a recent publication by the Pew Research Center, there are approximately 74.9 million Baby Boomers and 75.4 million Millennials. After holding back for what seemed like years, Millennials are finally taking the real estate market by storm. If you are preparing to sell your home at the Lake of the Ozarks, it is important that you include these younger buyers in your target market. Keep reading to find some important information about Millennials and how they impact the current housing market.

Statistics On Millennial Homebuyers

In order to know how to market your home to this young generation, it is important that you understand how they relate to the current market and how they are changing the real estate industry. Here are a few statistics to help you get a brief snapshot of Millennial homebuyers:

The following statistics are from PointDrive.com:

• 94% of Millennial buyers start the process by searching for homes online.
• Over half of Millennial buyers start their online home search on their mobile devices. Of these individuals, 26% of them say they found the home they ultimately purchased on their mobile device.
• Millennials account for 31% of homebuyers (the largest segment in the current marketplace).
• 85% of Millennials agree that website photos are a crucial part of evaluating potential properties.

Marketing Your Home To Millennials

In order to sell your home successfully, it is imperative that you pay close attention to the habits of Millennial buyers and adopt the appropriate marketing tactics. Our Lake of the Ozarks real estate agents are here to help! Here are a few tips to target Millennial buyers:

1. Take High Quality Listing Photos
Millennial buyers want to be able to view the home in its entirety before they ever tour it in person. Most of these younger buyers will make conclusions about a property based on the information (or lack thereof) the listing photos provide. Be sure your home makes a great impression online by having great listing photos.

2. Play Up The Family Aspects Of Your Home
Many Millennial homebuyers are recently married and preparing to have children, so it's important to show off the family aspects of your home and neighborhood. Talk about your great neighborhood, the good schools, and the ways your home will lend itself to raising children.

3. Stage Your Home
Though they may be entering the housing market for the first time, most Millennial homebuyers have watched reality TV shows about real estate and are entering the market with higher expectations than their parents did. If you neglect to stage your home effectively, Millennial buyers may go looking for other alternatives.

4. Make Any Necessary Repairs Beforehand
For most Millennial buyers, buying a home is a big enough step all on its own - they may be reluctant to take on a home that will require a significant amount of work after moving in. In order to appeal to most Millennial buyers, we recommend making any necessary repairs before listing your home.

Fran Campbell Team Is Here To Help!

Don't miss out on the largest sector of our current housing market. If you are thinking about selling your home in Osage Beach MO or any of the surrounding towns, contact Fran Campbell Team. We have the experience and the resources you need to help make your real estate endeavors a resounding success. We look forward to hearing from you!

Real Estate Lake of the Ozarks : Find Your Dream Home Now! 

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Contact Fran Campbell Team at RE/MAX Lake of the Ozarks for all your real estate needs.

Fran Campbell Team
Lake of the Ozarks BEST Realtor
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