Who is the Millennium and what do they need in a family?
If you work with first-time vendors, you will most likely work with Millennials. Who is the Millennium? They represent the largest generation in history and the largest group of homebuyers in the United States. As a real estate agent, you must understand the Millennium. This article from our group, Millennials of changing nations: are you ready, are we investigating questions like the Millennium? What affects their health? What are their needs and weaknesses at home?
Who is the Millennium?
The U.S. recorded. Census Bureau the birth of the Millennium between 1982 and 2000. Here are six things you need to know about the Millennium generation.
Many thousands of years
The U.S. Department of Publications reported that of the 83.1 million millennial estimates currently available, they represent more than a quarter of the nation’s population. The number of Millennials is higher than the number of baby boomers in 2010.
The Millennium is different
The most recent analysis of variances was completed in July 2014. The U.S. The Census Bureau reported that 44.2% of millennials identify themselves as minors: 19% Hispanic, 14% African American, 5% Asian, and 3% mixed or otherwise.
Millennials have an unfortunate debt to financial rewards
While this generation was still young, many started working during the economic downturn. The average salary of Millennials in the United States for full-time employment is $ 33,883. The average Millennium owes $ 45,000. The average student owes about $ 12,700 in credit card debt and other types of debt. It makes it difficult to buy goods for a thousand years.
The millennial person has an education
One in every 3 adults over the age of 30 has at least a four-year university degree, making it the most educated youth in U.S. history (Pew Research Center).
It is too late for people to get married and have children
Only 26% of millennials in the United States are married, compared to 36% of generation X, 48% of baby boomers, and 65% of the quiet generation of the same age. According to the Pew Research Center, 33% either divorced or had a child because of the economic downturn.
The millennium is highly dependent on technology
More than 85% of Millennials in the United States own a smartphone, and 65% of Millennials said losing a phone or computer would affect their normal habits more than losing their phones. 57% of Millennials also said it would replace financial advisors for state-owned businesses.
The practice of our sister Millennium website is transforming the real estate market: it has thoroughly studied the impact of science on the Millennium.
Millennial real estate and customs
The mechanisms for this public criticism are clear. Although millennials have a lot of debt, their ambitions are high. Millennial real estate agents need a better environment, both in terms of availability and energy. They don’t like large ornate buildings, but they prefer smaller, more flexible, special ones and close to restaurants, shops, and entertainment venues. For real estate, they are looking for quality and original quality services. They also expect to communicate with you via text, email, and social media.
Who is the Millennium? As a group, they are completely different from previous generations. The Millennium is different, more educated, more complex, more single, and less likely to have children – but it seems more indebted. Expect high customer service every time you shop. Understanding the characteristics, needs, and weaknesses of this generation is the first step to success in the millennial real estate business.