A recently released survey indicates that 35% of Millennial and 44% of Gen-Zer homeowners plan to sell their homes within a year.
Coldwell Banker Survey Offers Hope for Increasing Inventory Levels
A recent survey of some 2,000 homeowners released by Coldwell Banker, conducted online by The Harris Poll, indicates that many younger homeowners are intending to sell their homes within this coming year.
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Specifically, Coldwell Banker’s survey found that 35% of Millennial homeowners and 44% of Generation Z homeowners, the oldest being 25, intend to sell their homes within the next 12 months.
Coldwell Banker CEO M. Ryan Gorman said, “With more than two in five Gen Z and over a third of Millennial homeowners planning to sell their homes in the next 12 months, reaching these generations is key to unlocking inventory in 2022.”
Additional Survey Findings
Digital fluency is important to all generations of homebuyers. Take a look:
- 59% of Gen Zers expect agents to utilize social media to market their properties.
- 65% of Millennials expect agents to utilize social media for marketing
- 58% of Gen Xers expect agents to utilize social media for marketing
- 60% of Boomers expect agents to utilize social media for marketing.
No excuses, agents. It’s time to become fluent and utilize all social media channels to promote your clients’ wishes/needs to buy, sell and/or invest in real estate properties.
It’s also up to you, agents, to track down and engage with potential Millennial and Gen Z home sellers. Not only will you be track down new clients who may become your serial clients through the years, you may be tracking down much needed new listings for an inventory-starved market and a myriad of potential buyers.
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