There is a major gap between real estate agents and their clients.
The average age of a realtor is in the mid 50's - a figure that has grown older and older over the last decade or so - while at the same time the average homebuyer has become younger and younger.
This is due to a number of different factors.
For one, the real estate industry is notoriously difficult to cut your chops in as a newbie. Experience is a valuable commodity in the eyes of home shoppers, and this can be a discouraging prospect in a tough economy, to say the least.
Secondly, the nation's demographics is undergoing a natural change. A big ol' 80-million-person-sized wave of Gen Yers (also known as "Millennials") have exited university, are starting families, establishing careers and are looking to purchase properties, thus pushing down the average age of homeownership.
However, there is another element in play.
That is, technology.
This curveball drives a wedge between those who stand on either side of the transaction. And like almost every other business model in this country, it's the consumer who's in charge.
So, if the average real estate agent is going to survive, thrive and surf this Milennial wave into the land of righteously closed transactions, then they will need to adapt.
It's a familiar narrative, I know, but one that's true nonetheless.
The team over at Porch designed this great infographic on Millennial preferences, pulling stats from several sources to provide a clear overall view of what these strange young people are like.
Some information is useful to be aware of (such as the fact that Gen Y comprises about 25% of the US population), while other statistics can be applied to immediate use.
For example, 56% believe that a house's tech capabilities is more important than it's curb appeal.
So, maybe focus on the speakers more than the garden for your next open house?
Take a look and see what other gems you can glean:
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