What’s behind the rise in homeownership? Growing interest from millennials. Here are the 2019 millennial real estate trends you need to know about this year.
Empowered with Knowledge
First-time, homebuying millennials are much more informed when it comes to renovations, repairs and real estate process than other generations. Growing up during the development of the internet has made them very tech and research savvy and able to find ways to access important information such as listings, neighborhood reports, HGTV home renovation videos and other types of industry information on their own. In 2019, they will rely on real estate agents to share information that they can’t find online such as neighborhood developments, local market forecasts, local housing regulations and more.
Buying homes – despite rising rates
Millennials continue to make up the largest segment of buyers, accounting for 45 percent of mortgages, compared to 17 percent of baby boomers and 37 percent of Generation Xers. While first-time buyers will struggle, older millennial move-up buyers will have more options in the mid-to upper-tier price point and will make up most of the millennials who close in 2019. As their housing needs adjust over time, millennials are on track to make up the largest share of homebuyers for the next decade.
Many millennials grew up watching renovations and makeovers on HGTV, which means many of them are ready to invest sweat equity in their new home. Millennial homebuyers, overall, are more aware of the costs, work and implications of renovations than the previous generations. This is good news as interest rates rise and buyers should be prepared to settle for homes in need of TLC.
New Buying Strategies
Social media continues to impact millennial homebuying habits. They rely on online reviews to make purchasing decisions, and a strong online reputation for real estate professionals is a must in catering to this market. In fact, a recent study showed that millennials would prefer to buy a house from a real estate agent influencer over a traditional real estate agent. Showcasing a home on social media, especially on visual-heavy platforms like Instagram, is essential for appealing to millennial buyers.
Research your way to the right real estate agent who can make all the difference. RE/MAX agents are more recommended because they recommend what’s right for you and your future. Contact Jennifer today!
When you combine an iconic brand, a global mindset, a winning culture and the world’s most productive agents, you create something special. And others are drawn to it.
After five years of constant growth, agent count at RE/MAX topped the 120,000 milestone during the first quarter of 2018.
With growth comes more yard signs, more advertising, more listings, more referrals and – most importantly – more satisfied homebuyers and sellers around the world.
It’s all a reminder that RE/MAX is the right choice for productive, experienced professionals – and for clients looking for an agent with those qualities.
The numbers prove it: RE/MAX agents continue to have leading productivity. Here are five facts to know from the 2018 REAL Trends 500 Report:
• RE/MAX agents averaged 17.0 transaction sides, more than double the average of 7.5 for all other agents in the survey.
• RE/MAX was one of only four national franchises with an average exceeding the overall survey average of 8.3 transaction sides per agent.
• Of the 1,752 qualifying brokerages, one-third (565) were affiliated with RE/MAX. The nearest competitor placed 392.
• RE/MAX agents averaged $4.6 million in sales volume, 78% higher than the $2.6 million average of all other agents in the REAL Trends 500 survey.
• With 89, RE/MAX brokerages hold even more of the top 100 spots when all participating brokerages are ranked by average sides per agent.
The global powerhouse moves forward with productive agents and a passion for helping buyers and sellers around the globe.
The skills of more than 115,000 Sales Associates in over 100 countries and territories have made RE/MAX the global leader in residential real estate sales (transaction sides). That’s what happens when you combine the industry’s most productive agents, a universally known brand name, an array of competitive advantages, and a culture that attracts professionals who value customer service and big results!
RE/MAX continues to shine in the annual Entrepreneur Franchise 500 ranking of top franchises.
In addition to being the No. 1 ranked real estate franchise for the 15th time, RE/MAX climbed into the survey’s Top 5 for the very first time. It joined McDonald’s, 7-11, Dunkin’ Donuts and The UPS store in the elite five of household brand names.
More than 115,000 agents enjoy the competitive advantages of being with the industry’s top franchise brand. And who benefits from the skills of those agents? Homebuyers and sellers in countries around the globe.
Nobody in the world sells more real estate than RE/MAX, as measured by residential transactions. There’s a reason for that. And it starts with productive, hustling, all-in agents who strive to be the best at what they do.
The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.
While NAR remains concerned that the overall structure of the final bill diminishes the tax benefits of homeownership and will cause adverse impacts in some markets, the advocacy of NAR members, as well as consumers, helped NAR to gain some important improvements throughout the legislative process. The final legislation will benefit many homeowners, homebuyers, real estate investors, and NAR members as a result.
Read the National Association of Realtors article…
You know the old saying: “Time is money.” That’s especially true when it comes to determining how to value your time as a real estate professional on a per-hour basis. At a “normal” job, you trade your time for a paycheck based on a set hourly rate. Though you’re now paid on commission, it is possible to determine your hourly rate by dividing your total income by the number of hours worked.
It’s no secret that you’ll make more money selling more expensive homes, but even some daily business tasks are worth more per hour than others. Getting a sense for which tasks can be tied directly to additional sales allows you to allocate your time better and focus on money-generating activities such as prospecting, following up, and meeting with clients. By knowing you’re worth on an hourly basis now, you can make goals for what you’d like your time to be worth in the future. Then you can make your current income (or more) while working less. Here are some worthwhile lessons to take to heart as you assess your per-hour value.
Read the full article on Realtor Mag…