With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Even Web-Savvy Millennials Prefer A Face To Face On Their Home Buys
Here’s something that’s pretty counter-intuitive… the abundance of online information has actually driven up demand for the face to face real estate agent – from 83% in 2010 to 88% in 2015. Part of the reason is that there’s just so much information out there that it’s hard to tell truth from fiction and marketing hype, so buyers, including younger, web savvy millennials are using their online research to select experienced agents that can hold their hands through likely their biggest expenses ever – a home purchase.
There’s also the issue of changing real estate and mortgage laws which buyers have a hard time keeping up with, and naturally see value in using an agent that’s up-to-date on all the regulations and is on-hand to help with negotiations and answer questions face to face.
And with rising unemployment, demand for housing continues to be strong, especially in more desirable areas. So higher prices are pushing buyers out to cheaper areas away from city centers and commuting distances appear to be rising. Tight inventory is also capping people that want to sell and trade out or trade up, so it’s a bit of a Catch 22, which is why new home construction could be the answer to alleviating the crunch in housing.