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Adapting to Market Changes

October 27, 2017

How Landmark Has Adapted to Market Changes

 

As one of the north central West Virginia’s most experienced and respected real estate agencies, Landmark Realty Services has witnessed a myriad of market changes over the years. One of the most important changes we’ve experienced is the dramatic impact millennials have had on the real estate market.

 

Who Are the Millennials?

Although the definition of “millennial” varies according to the source, millennials are those who have reached adult age at or near the turn of the century. 

 

Typically, a person is considered to be a millennial if he or she was born between 1976 and 2004.  One of the identifying characteristics of millennials is that they grew up with widespread technology and feel very comfortable with it--from computers to smartphones and the internet. In comparison, Generation X (the generation that preceded millennials) was introduced to most of this newer technology as adults and generally do not feel quite as comfortable with every day technology.

 

Also called Generation Y, or the Next Generation, millennials use the internet to thoroughly research anything they buy--from a new pair of shoes to a computer, and even a new car or home. Generally speaking, millennials are very knowledgeable consumers!

 

How Are Millennials Different From Previous Generations?

Unlike previous generations, most millennials have not known a world without the internet. They are accustomed to searching for and receiving information almost instantaneously--on any subject. In fact, according to numerous sources, 99% of millennials have searched online while looking for a home!

 

For Landmark to ignore millennials would mean overlooking a very large segment of the buying public. About two-thirds of all first-time home buyers today are millennials and millennials are about one-third of all home buyers.

 

Interestingly, even though millennials are accustomed to doing their own research, they are also much more likely today to utilize the help of a real estate professional than previous generations. Perhaps this is because so many millennials are first-time home buyers. Clearly, millennials are a driving force in today’s real estate market!

 

How Does Landmark Serve Millennials?

We recognize the needs of millennials. Our Office Manager, Sarah Elliott, who oversees the day-to-day operations of Landmark, is a member of the millennial generation. Landmark understands the needs of this generation and strives every day to meet the needs of this younger generation--and all generations of home buyers and sellers.

 

Landmark has a robust Facebook page that is updated every day, and the company’s website is also updated regularly. Our website includes thousands of pictures of homes available for sale in the area, as well as other helpful information for home buyers and sellers, including educational publications. Landmark also regularly uses Snapchat and Instagram to connect with potential buyers.

 

Understanding younger buyers so well, Landmark Realty Services is able to help previous generations market their homes effectively to millennials. According to recent research, nearly two-thirds of millennials want help understanding the home purchasing process, which is why so many millennials are turning to Landmark for our exemplary service!  

 

As an agency, we regularly train our Realtors to understand the needs not just of millennials--but all generations of home buyers and sellers. Each generation is slightly different, so we want to ensure we meet the needs of our valued clients--all ages and generations!

 

Call Landmark Realty Services

Landmark Realty Services is a third generation, family-owned real estate brokerage you can trust. We utilize various technology platforms to connect with younger buyers and sellers, while providing quality, personalized service that all generations expect and appreciate! 

 

Call Landmark Realty Services today at 304-842-5298 to schedule an appointment with one of our real estate professionals.

 

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