This one segment will drive $2 trillion into the real estate market over the course of the next five years, and these buyers will require knowledgeable originators, according to a recent study
Millennials are expected to spend trillions of dollars in housing in the next five years, and here is what originators need to know about this important buying segment.
Pooling together a number of industry sources, Mortgage Master assembled a handy infographic that provides an overview of millennial sentiments about everything from family and professional life to what they expect when searching for a home.
According to the study, 94% of millennials will begin their home search online. Is your online presence up to snuff?
Most importantly, perhaps, is the fact that 93% want to own their own home in the near future, making this group a massive opportunity for originators.
When it comes to home buying, 50% of Gen-Y expect their parents to help with the down payment, 45% don’t know if they would currently qualify for a mortgage, and 66% are unaware of what closing costs are.
Now, don’t you think they would greatly benefit from working with an originator?
Check out the entire infographic below.
