RE/MAX Aerospace Realty

Are Home Sellers at the Whims of Millennial Buyers?

by Anne & Jay Humphreys 02/09/2020

Image by Gerd Altmann from Pixabay

The home selling trends for 2020 are predicted to skew toward the millennial generation given the most recent statistics of age demographics. While the exact definition of millennial varies, the term usually refers to anyone born between 1980 and 2000 (give or take a few years in either direction).

Given the relatively large time span of this generation, there's a fairly wide gap when it comes to how they search for homes. We'll give you more information on how home sellers can capitalize on this trend rather than fall victim to it. 

Prioritize Your Listing 

Millennials aren't usually wandering around their dream neighborhoods just hoping to catch a glimpse of an Open House sign. In fact, chances are they're doing a lot of research online before they even consider hiring a real estate agent.

When more than 80% find their home on a mobile device and nearly 100% find their home through an internet search, you need to have an online listing that really speaks to them. Your photos need to be impeccable and your descriptions need to be chockful of the most popular keywords. You may even want to take some high-quality video footage of the inside and outside of the home. 

Bigger Isn't Always Better 

Millennials do care about how big the home is, but they may be more interested in how close the home is to a good school system (especially the older millennials). They may be looking for reassurance as to the quality of the neighborhood or how long the standard rush hour will delay them.

Making Improvements 

If you're planning on doing a little renovating before you put the home up for sale, concentrate on the design flow of the home. For most sellers, it's recommended you put an emphasis on the home's patio, pantry, and garage space as a way to attract more buyers.  It's the functionality that millennials are concerned with, which would explain why things like laundry rooms are more exciting to them than a huge master bedroom.

You may also want to invest a little money in your exterior lighting, as it can be a good way to improve both the look and safety of the home. And if you want to keep your price tag down, millennials are besotted with Style on a Budget decorating, giving you a chance to flex your creativity without having to buy spend too much money. 

Home sellers can talk with a real estate agent to find out if their home is likely to be coveted by millennials or not. It just helps to know what they're looking for before you start inviting people on the property. 

About the Author
Author

Anne & Jay Humphreys

I have grown up living in Brevard County and absolutely love our area! Because I have lived here since the age of 6, I have had an opportunity to live in various locations throughout the county, growing up in Indian Harbour Beach. After purchasing a home and investment properties, I decided to pursue a real estate career and became licensed in 2005. Throughout my career I have worked not only in a good market but toughed it out in the downfall of the market as well. in addition to working traditional sales, successfully negotiated short sales with both sellers and buyers, as well as working many transactions with bank owned/REO properties. It is so wonderful to be back in a healthy market! My customers are invaluable to me and receive my utmost attention, priority, and respect. 

My husband, Jay Humphreys, acquired his Real Estate license in 2014 and has joined me in providing service to our clients. We enjoy the team aspect of Real Estate as Jay has been a licensed Insurance adjuster since 1997 and has a wealth of knowledge dealing with all aspects of insuring properties. He also has many years of construction experience and together we have purchased and remodeled 4 homes here in central Merritt Island.