Today’s savvy real estate investors bring new challenges to Realtors. The average age of a Realtor is 51. The average age of today’s first time buyers is 21-30. Today’s buyers do 91% of their research online, seldom look at print advertising and know their FICO score. Realtors may have had two black and white channels on television, where today’s buyers have spent countles hours playing video games with MTV video, movies, sitcoms and reality tv. They demand instant information. They text, phone, IM and email. Realtors with technological skill are able to answer the demands.
In this market, 86% of the decision-making is done before a buyer meets with a Realtor. Realtors are chosen through referral, online search and listed properties. Buyers want Realtors to manage the process after the offer is made, but do not require a lot of input before an offer is made. The bond of trust is established through information sharing utilizing state-of-the-art tools.
Real estate relationships between buyers and agents has taken on a new social networking trend. The trust is based on a different style of information than 10 years ago. Spanning the gap, informed Realtors meet the need to learn new methods and create strategies that succeed. They must make sense and bring understanding to the virtual generation. Although the new generation of buyers see the world through a more visual state of mind, Realtors and buyers have learned to communicate over the chasm of years from word-of-mouth to virtual and visual.
The result, in spite of lender difficulties, buyers are achieving the American Dream and buying homes in a market that media constantly blasts. Opportunities are found in all markets. Every turn, up or down, bring different opportunities. The quest for information is the key to making good buying decisions. Research brings peaceful escrow and optimum results.