Posts Tagged as Generation Z

The 2018 Real Estate Market Heats Us

Will Gen Z Knock the Competition Out of the Starter Home Market?

Though most of Generation Z are still a long way from being able to afford a home, real estate news points to this age group of home buyers as soon to be driving the market. Surpassing Millennials, Generation Z, born in the late 1990s and early 2000s, is entering the home-buying arena with rose-colored glasses and may soon be outpacing their Gen Y cohorts in home sales.

How Hot are Gen Z Buyers to Purchase Homes?
According to a recent report by the National Association of Realtors…

57% of Generation Z renters are confident that they will own their own home, compared to 55% of Millennials.
97% of Gen Z believe they will own a home in the future.
82% tout home ownership as the most important factor in achieving the American Dream.

Break Out the Boxing Gloves
Gen Z buyers, however, will face one of the most competitive housing markets in history, challenging not only Millennials, but Gen X-ers emerging from the rental market after losing a home to the property market crash of 2008. With nearly three-quarters of homeowners over 55 hunkering down in their empty nests, and a 17% year-over-year decline in the supply of starter homes, emerging victorious may prove to be a struggle.

Who’s Got the Edge?
Despite the competition, Gen Z’s fast-moving tendencies may push them to the head of the pack. In the rental market, this age group tops the charts in speed of searching – and applying for housing, submitting 3.1 applications on average to the 2.6 applications of Millennials, 2.4 for X-ers, and 2.2 for Boomers. This tendency, likely supported by Generation Z’s romance with technology, may offer them a competitive advantage as they enter the market in coming years.

Are you in the know on the latest real estate trends you need to knock out sales? Train with the latest tools and technology on Properties Online today.

How to Market Real Estate to Generation Z Buyers

How to Market Real Estate to Generation Z Buyers

With more mobile phone connections existing than people on the planet, real estate news points to changing teams – particularly when it comes to marketing to Generation Z buyers. As smartphones continue their climb to the top as the go-to marketing channel, how will you reach Gen Z buyers?

Small Screen, Big Impact
Over 50% of kids under 18 were raised in homes without a landline. And forget Tracphones – 85% of their phones are smart. This is having huge repercussions on marketing tactics for Gen Z buyers.

What’s the Best Way to Market to Gen Z?

– Not ‘Mobile-First’… ‘Mobile-Only…’
Because of Gen Z’s ‘mobile-only’ focus, mobile advertising will comprise one-third of advertising dollars in the next few years. How portable is your current realty campaign?

– Push-‘Em, Don’t Pull-‘Em
Push notifications, those app-base pop-ups that litter your smartphone, are three-times more likely to be opened than emails by Gen Z buyers, showing an opt-in rate of 36% in iOS real estate apps.

– App-Happy
90% of mobile device time is spent in apps, versus Internet browsers. A quick-and-dirty app won’t work though – Gen Z leaves frustrating apps roadside. Instead of buggy apps, look to marketing tools flexible enough to incorporate with today’s latest social networks.

– Short-Sighted
Multi-screen users, Gen Z browsers bounce from device-to-device, with an attention span of mere seconds. Tweet. Insta. Snap. If you can’t engage them fast – they’re gone. For this genre, YouTube video marketing is the medium of choice.

– Socially Commitment-Phobic
It’s hardly real estate news that Gen Z-ers spend a lot of time in social apps. But what may be news to older generations: They’re a fickle lot, with favored social platforms rapidly morphing. Without a flexible marketing platform that can rapidly shift, you’ll be left in the rearview.

Marketing to these ‘creatures of the moment’ taking you a blue moon? There’s a better way. Learn more about the latest integrative technology from PropertiesOnline today.

What Real Estate Agents Need to Know About Generation Z

What Real Estate Agents Need to Know About Generation Z

In buyer-centric real estate news, Gen Z is arriving on-scene, surprising the realty-selling masses with the fact that they’re already old enough to buy homes. New to the housing market, they are the largest generational group in the U.S., now comprising more than 21% of the American population.

How Does Gen Z Differ from Previous Generations?
Born from 1995-2010, the oldest, now 23-years-old, are entering the housing market as renters. Sharing the same opinion as previous generations, they continue to view home ownership as the American dream. According to BHG Real Estate, 97% believe they will own a home, with 57% considering buying while looking for their last rental.

Gen Z Shopping Tendencies:

– Limited Attention Spans
Generation Z is fast to fill out a rental app, but not much for the home search, spending less than a month seeking new housing.

– Strong Family Influence
Despite their social tendencies, Gen Z looks at online reviews as the opinions of strangers. Friend/family endorsements are trusted, with parents heavily influencing purchases.

– DO Want an Agent
Despite this perpetually Tweeting, Snapchatting culture, real estate news points to Gen Z as true tire-kickers, preferring to shop in-person and surprisingly, not online. 81% expect to enlist the help of an agent in the home buying process.

– Need Space
Gen Z craves square footage, with a bedroom for each kid, guest room, and even movie/game rooms – perhaps a reflection of their squeezed, multi-generational upbringing.

– Still Want to Stay Connected
Despite a desire for space, they crave communal amenities geared at bringing people together, and prefer living with others to living alone.

– Aren’t Impressed by New, Builder Grade Homes/Materials
Having grown-up glued to HGTV, Gen Z buyers are well-versed on homebuilding materials, and desire hardwood floors, granite counters, and high-end appliances.

How will the aspirations and preferences of Gen Z buyers continue to morph the national housing market? Stay-tuned for the latest real estate news from Properties Online.

Should You Take the Repair or Money?

New Year, New Issues: The Most Influential Factors of 2018

Constantly ebbing and flowing with the day’s global events, real estate news seems to be always changing, making the task of keeping up with shifting trends a continuous challenge for agents. What trends are essential to your future success, and which are better left in the rearview mirror for the upcoming 2018 real estate selling season?

Real Estate Trends to Take Notice of in 2018
Of all the trends in real estate news to heed, these will be most influential to your sales success in the coming new year:

Online Marketing
Across the board, buyers and sellers are looking online first. Online sales and marketing are no passing trend, with those agencies with online branding dominating the realty arena, and those offering previously coveted inside information to everyday consumers leading the pack.

Social Networking
As with an online presence, marketing through today’s top social networks enables realtors to reach a far larger audience faster and with less hands-on effort. Providing information via casual online posts, photos, videos and links is now one of the ideal paths for marketing homes for all parties, from time-crunched agents to buyers and sellers.

Specialty Sales
Agents with a specialty genre will be center stage in the coming year, from those specializing in video listings to those showcasing luxury, ‘green’ and automated homes, and even agencies catering to Bitcoin purchases.

Home Automation
2018 will put home automation in the spotlight as technology becomes more affordable for the middle class – and more user friendly. Agents will need to stay ahead of the curve on this in order to put this technology to use to gain an edge over the competition.

Generation Z
Generation Z is entering the market, soon to snag the purchasing power of Gen-Y with yet to-be-determined habits.

What real estate news is on the radar for 2018? From trends and legislation to industry-leading tools and tech, stay at the forefront with PropertiesOnline.