Young Savvy Investors Still Need Real Estate Agent Assistance

Nearly 50 percent of first-time homebuyers were between 25 and 34-years old in 2007, according to the National Association of Realtors. On the other side, 51 is the average age of Realtors. The fact that buyers are younger while Realtors are aging presents a new real estate industry issue -- the business needs younger real estate agents to replace the retiring workforce that can adapt quicker to new technology.

How The Young Savvy Real Estate Investor Thinks

The new demographic of homebuyers introduces some interesting challenges. For starters, younger homebuyers are more independent, relying on the Internet to guide them through the process of finding a house. Oftentimes they skip the agent altogether by finalizing the search and purchase themselves.

Many real estate agents are not effectively using technology to their advantage, so it is important for younger agents to find their niche in a largely independent buyers’ world. By investing heavily into technology, such as using handheld devices to connect with potential sellers or actively updating their websites with other easy-to-use features, they ensure that young real estate investors come to them for assistance.

How Real Estate Agents Can Assist Young Investors

However, some buyers still want the “hand-holding” process a traditional real estate agent provides, especially those who are less tech-savvy. For younger people, buying a home is most likely the largest investment they have ever made, so they want to make sure that they are doing it right.

Having an agent show them around or explain how the process works is valuable, as long as the agent knows how to cater to them. Find out all the specifics the buyer wants and then look at how you can make that happen efficiently and by utilizing technological resources.

Future Issues For Real Estate Agents And Homebuyers

While homeownership is generally a good thing, because so many lenders have allowed buyers with poor credit to purchase homes, homeowners now owe more on their mortgages than their homes are worth. In addition, many borrowed against their houses’ worth, with home-equity loans increasingly used for irresponsible everyday credit.

Due to the downturn in the housing market, real estate agents have been trying desperately to land buyers. Understanding how to entice people who can afford to buy right now is crucial to increasing sales. With so many young buyers looking for homes, real estate agents need to focus on showing them the cheaper, smaller models that they can afford without worrying about sky-high mortgage payments.

Even though buyers know what they want, showing them properties within a lower price range could help sway them into a purchase. They may even be able to bargain the price down further if they have the capital. Focusing on the next generation of homebuyers will help boost any real estate agent’s sales, as long as they know how to handle it.