Millennials: The Driving Force for Virtual Home Tours Buying

Millennials: The Driving Force for Virtual Home Tours Buying

By: Anzhela Nadeau

 

THEY ARE EVERYWHERE we turn. In the age of technology, millennial have bowed their

heads, eyes glued to the their smart phones all while sharing stories on social media,

taking selfies or playing PokemonGo.  It’s not a secret that our smart phones have changed

the way we live, our communication preferences, shopping habits and the way we seek

answers to any question we may have.  According to Business Wire, research shows that

due to m-commerce, millennial will surpass the largest consumer base of all generations,

including the baby boomers. 

            With technology booming and the increasing demand of instant information

gratification at the millennial’s fingertips, it’s crucial that every real estate agent present

their property information in the simplest, most interactive and attention grabbing fashion

as possible. Realtors are now using multiple interactive online platforms to display their

properties such as immersive 3D Virtual Tours, 2D Real Estate professional photography,

Real Estate videography and virtual reality walk throughs inside each listing. More than

89% of buyers rely on web and mobile tools to narrow their list of properties to consider,

while 40% admitted that virtual tours and interactive maps are extremely useful in

narrowing their search decisions.

      Currently, millennial comprise 35% of all new homebuyers on the market. According to

Trulia, that number is estimated to jump as high as 80% within the next two years.  While

the ‘perfect home’ search increases among new buyers, a realtor’s online presence will be

their number one source of client interest-capture and direct interaction. It’s imperative

for real estate agents to create online mobile presence that will allow their listing

information to reach their younger buyers and expanded their target audience. As

technology evolves so will the world of real estate.  As commission express states “For a

real estate agent, reaching millennials online is not simply a luxury – it’s a necessity.”  


Sources:
Commission Express Pages
https://www.commissionexpress.com/page/blog/3-ways-to-reach-millennials-in-real-estate
Millennials Are About to Outspend the Baby Boomer, Catching the Retail Industry Off Guard
http://www.businesswire.com/news/home/20131024006116/en/Millennials-Outspend-Bab
y-Boomer-Catching-Retail-Industry#.VADDeWNgNnV
Wired.com
http://www.wired.com/insights/2014/09/millennials-design-technologies/

 

Info Graphic of real estate millenials
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