There’s an App for That – Getting Plugged in in the Housing Industry
Millennials, they are the hot target audience for so many industries. The companies and brands that can best understand them, market to them and predict them are having great success. So what does it look like to be a millennial home buyer? Millennials are changing the way we do business and the way that the home building industry both builds and markets homes.
“Millennials, the cohort of Americans born between 1980 and the mid-2000s, are the largest generation in the U.S., representing one-third of the total U.S. population in 2013. With the first cohort of Millennials only in their early thirties, most members of this generation are at the beginning of their careers and so will be an important engine of the economy in the decades to come” (White House). This large sector of the population makes a big impact on the housing industry, and it is our job to understand and appeal to this powerful generation.
Millennials are efficient and they are always plugged in. If they need answer about the price of a home, they will google it. If they do not know what homes are available in their price range, I’m sure there is an app for that. Appealing to millennials involves transparency and accessibility of information (Entrepreneur). Home builders are now providing social media follow ups on the progress of homes, mobile websites for on the go access and fast brand interaction with customers via social media sites such as Facebook, Twitter and Instagram. When millennials connect, so do home building companies such as Sable Homes.
The home purchasing process for millennials is much different than home buyers in the past. According to Forbes, when it comes to home buying, “millennials expect a friction-less journey.” With apps and websites such as Zillow home buying and searching is at the tip of our fingertips.
“The Internet has brought the expectation that things happen instantly. They expect the same to be true when looking at different housing options. While online platforms like Zillow are creating an extremely competitive landscape, the most successful realtors and independent home sellers are leveraging the information millennials are finding online to develop more connected, transparent in-person relationships” (Forbes).
Millennials not only demand fluidity of the home buying process, but they are very much influenced by reviews, opinions and peers. Millennials constantly seek out answers or verification. At the touch of a button millennials can see what the schools are like in a particular neighborhood, how much the homes around their choice are estimated at or share the home information with a friend for review. With the constantly evolving technological landscape, especially within the housing industry, Sable Homes continues to evolve to meet the demands of all generations of home buyers. It is increasingly essential for realtors and home builders to both understand millennials and provide the resources for them to find a home virtually.