Millennials

Millennials


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MillennialsMillennials love Omaha, the Omaha World-Herald reports. Among the 50 largest U.S. metros, the largest population growth among millennials in the past decade was in Charlotte, Houston, Austin, Seattle, Virginia Beach and Omaha at number 6.

In all, the report examined 345 geographic areas for the 18-to-34 age group. The Omaha-Council Bluffs area showed a millennial increase of 14.3 percent. Thus millennials love Omaha

Because of a welcoming attitude and lower cost of living, Omaha also attracts those who first came for corporate internships as well as “boomerangs” who grew up here, moved away and returned.

Omaha is a good place for apartment living, but also for young professionals who want to buy their first home. They’re often able to do that a couple of years out of college.”

Did you know the millennial generation rents the most and makes up 27.3 percent of all renter households? The second fastest-growing group of renters, people ages 35 to 44 make up 21.5 percent of all renters. Omaha could experience another housing boom if these groups decide to buy houses instead of renting.

The LA Times recently wrote, “Call them the prodigal millennials. Various reports suggest that young couples and singles in their late 20s and early 30s are beginning to enter the home-buying market. They have been attracted by mortgage rates in the 3% to 4% range.  Government efforts to ease credit requirements have helped as well as deep frustrations over rising rents without creating equity.

Millennials are a sizable group; almost 74 million people. The Pew research center defines millennials as between ages 18 to 34 in 2015. The oldest “Millennial” was born in 1981.  The group is projected to number 75.3 million. That’s bigger than the 74.9 million Boomers or the Gen X population. Immigration is expected to add to the total. The Millennial population is projected to peak in 2036 at 81.1 million.

How will the technology invented by the millennials be used to sell homes.

Working with them will be tough. If you want to specialize in this demography, you must do certain things:

  1. Develop your niche, and stick to it. If you want listings by millennials, niche the neighborhood, not the city. Go deep, not broad.
  2. Be completely transparent, all the time. This generation has a knack for sifting fakeness like sifting flour of its impurities. Honest, transparent people are qualities of successful agents.
  3. Hustle, and then hustle some more. You will need to sharpen your skills as a buyer’s agent. Sharpening your skills means putting in the smart work for custom, automated property searches. It means doing some creative sleuthing to find “coming soon” listings before they hit the market — or even before they become “coming soon.”
  4. Be available by text, email, etc. They generally won’t phone you, they are beyond that.

Styl Properties, Inc. is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year.  We may not be the “traditional” route, but we help and we do it quickly.

Give us a call today at 402.999.0577 to let us know what YOU need help with!

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