Key Highlights
- Consumers have and expect 24-hour access to data digitization in all aspects of their lives
- Digitization of local, market specific real estate data is only part of what agents need to offer their clients
- Agents must recognize and appreciate their client’s anxieties when involved with the home buying/selling process
Research done by Harvard University in its Joint Center on Housing Studies indicated that consumers who have access to a human being in an online setting are more likely to be satisfied with their experience even if those consumers NEVER contacted that human being. Just knowing that the human being is “there with them” makes all the difference.
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Millennials are accustomed to expect optimized data use. A recent study by SalesForce confirmed this…67% of Millennials and Gen-Zers expect information and offers to be personalized while only 35% of Boomers share those expectations. And, 75% of Millennials and Gen Zers want to work with businesses that have instant on-demand engagement.
Makes sense particularly when experiences and information/knowledge center around home buying and/or selling. When we feel anxiety (and home buying/selling is considered to be one of the most anxiety producing experiences we may choose to do), we want to talk with someone (at least a human sounding someone) to access more information. Harvard’s recent study found that when human beings (real estate agents/brokers) are paired with personalized information, “trust is more easily built.”
In this current shift from passive consumerism to empowered consumerism in our on-demand economy, real estate agents and brokers need to prioritize instant access to personalized data and humanized support.
Many sales professionals are finding that virtual assistants in various on-demand service businesses are well worth the investment in terms of providing consumers with quick responses to their questions. Google mobile searches, for example, for “near-me-today-and-tonight” services has grown +900% over the last two years.
Agents and brokers, it is worth knowing that 75% of Millennials and Gen Zers want to work with businesses that have instant on-demand engagement.
Thanks to Harvard University’s Joint Center on Housing Studies and HousingWire’s Kristin Messerli for source data.
Also read: FHA Loans Most Popular Gateway to Homeownership, Best Cities for Gen Zers, What Tech Will Dominate Real Estate Industry in Coming Decade?
