If surfing the web was anything like actual surfing on a wave, then millennials would be Johnny Tsunami
Why do so many people have these misconceptions about Generation Y (a.k.a millennials) born during the late 80s, 90s, and 2000s? With todays rapid information-driven society, why would you not want to be well versed in social media and the internet to gain publicity and grow your targeted audience?
Millennials posses skills which have been perfected over the course of their entire lives that allows them to easily and quickly reach a large audience as well as comprehend new platforms and updates to further their reach. The new generation has stellar engagement strategies and produce valuable feedback, site traffic, promotions at a low cost with incredible return.
In a Pew Research Center article written by author Richard Fry (Link) it is expected that 2019 is the year when Millennials take over as the largest generation in America, over the Baby Boomers with approximately 73 million people between the ages of 20-35 years old.
Today's job hunting market has changed. Traditional avenues to look for work were done via family and friends, newspaper ads, and applying for businesses with a Now Hiring sign up on the door or window. 73% of today's millennials use avenues such as LinkedIn, Indeed.com, monster.com, etc. to find employment. With this change in employment strategies, companies are able to hire employees with strong online and computer skills and that are capable of growing their business. As an Advertising Manager Millennials can earn an average salary north of $100K annually.
Now how does this information tie into the real estate conversation?
According to the National Association of Realtors, millennials make up the largest share of home buyers at 36% and the large majority (65%) of them are first-time home buyers. Meaning that millennials have gained access to the market and are getting approved to buy property. Not only that. They are
also finally realizing that it is far more expensive to rent than it is to buy a home and pay a mortgage. Millennials are changing neighborhoods, they are getting smarter and understanding the market, and are taking control of their lives and the future outlook of major cities in America.
Generation Y is associated with so many misconceptions of being shallow or mentally weak and incapable of understanding the importance of major life-changing decisions. But that cannot be further from the truth. Sometimes change scares people and millennials bring about a lot of change. They have a new way of doing things. They bring about a new era of information and set a new standard for making traditionally complicated matters much simpler, faster, and efficient using various apps, online forms, etc. to get things done.
Real Estate Associate
Luxe Properties, LLC
Coral Gables, Florida
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