Buyers today are changing the game, especially those of the millennial generation. Life experiences and interesting economic times have led them to be more cautious, more educated, and more prepared when buying a home. Although they rely heavily on technology, most still rely on an industry professional to guide them. In fact, they swear by it, just so long as they find one with a vast understanding of the market, loan, and buying process.
I can tell you from experience, that most of my clients come to me knowing exactly what they want in their loan: a 30 year fixed rate mortgage (yes it’s true they ask for it by name!) and importantly, they want to make sure they are avoiding an ARM (adjustable rate mortgage). My guess, or rather, my educated millennial guess, is that we saw our parents, aunt’s, uncle’s, family friends, and teachers end up in bad situations in 2009 and the following years: The first recession truly CAUSED by the fallout of the housing market. You see, recessions are a normal market occurrence, but this one was different because what had traditionally been a victim of the fallout -a less prosperous housing market- became the perpetrator in 2009.
We watched families lose jobs, homes, retirement and savings accounts. It was an awful time for many homeowners, and Americans in general, watching Big Banks get government bailouts while family homes and businesses went under. But, if there is something good that came out of it all, it is the millennial homebuyer. They know what they want, and they know who to trust to help them get there. Arguably equally important, is the millennial REALTOR® (Heeyyyy that’s ME!). With a deeper understanding of homebuyer fears, a first-hand experience of a recession, and the desire to be my client’s greatest advisor before, during, and after a sale, it means peace of mind for my clients.
Just like the millennial homebuyer is different, so is the millennial REALTOR®, and if you ask me, we’re a perfect match!
