From credit issues to complicated inspection processes and highly specific consumer preferences, the journey to homeownership consists of many obstacles. Prospective homebuyers will have many questions and concerns along the way, and they expect their real estate agents to provide the answers. But what makes this new generation of real estate investor tick? And how can the successful real estate agents adapt to this ever-changing world of house-hunting expectations?

Technology and social media have forever changed the real estate purchasing experience. While many consumers might complain of limited inventory selections, they are also taking a more active role in their search for a new property. With so many ways to search for new listings online, many consumers might mistakenly assume that finding real estate opportunities with the perfect combination of amenities should be rather easy. However, with easier online access to multiple listings comes an increased likelihood of perpetual consumer indecisiveness.

Instant gratification

Technological advancements like the iPhone and social media have automatically conditioned even the most seasoned real estate investor to expect nearly instantaneous results in their quest for the perfect home. Room-by-room videos are now replacing those image-free newspaper advertisements of yesteryear, and the Internet even allows future homebuyers to travel the surrounding neighborhood virtually by way of Google maps.

Before the prospective client even entertains the notion of attending an open house or visiting a property in person, they usually perform an enormous amount of due diligence and market research well in advance. By searching the Internet, they have likely identified many of the following characteristics of the property and location, and they may be postponing a decision until all of the proverbial boxes are checked.

• Is the property in proximity to work, school, and recreational activities?
• Is the property kid-friendly or pet-friendly?
• Does the property have an outdoor space for entertaining?
• Is the property move-in ready? Or is it a fixer-upper?
• Will the property be easy to sell, providing the prospective client with a certain level of personal freedom and flexibility to relocate in the future?
• Is the property affordable, or will it maximize their current budget?
• Even issues of stainless steel appliances and hardwood floors can become a significant factor when today’s consumer has 24/7 access to thousands of online listings.

Social media savvy

Particularly for the Millennial Generation, today’s real estate investor lives and breathes by the smartphone. By constantly surfing the web in search of professional real estate agents with the best possible credentials, today’s investor demands impressive online marketing capabilities, stellar sales quotas, excellent negotiation skills, and nearly 24/7 accessibility. As a result, the most successful real estate agents are not only experts in their chosen field, they are also extremely savvy technologically.

For example, a recent CNBC report suggests that buying behaviors are being increasingly influenced by Facebook. Real estate agents can post video tours of new properties, and former clients can write instantaneous online reviews of their purchasing experiences. Meanwhile, friends of future property buyers often share information about recent investment opportunities via Facebook and other social media platforms. Consequently, the most successful real estate agents often take advantage of multiple online marketing opportunities simultaneously, including the following.

    • Facebook
    • Twitter
    • Instagram
    • YouTube videos
    • Real estate website website that is also mobile-friendly
    • Video tours
    • High-ranking advertisements with Google
    • Impressive sales and closing percentages
    • Outstanding online reviews from former clients

Indecisiveness

With so many ways to shop for real estate online these days, a real estate investor can quickly become overwhelmed with indecisiveness. As the prospective buyer begins to visit multiple properties in-person and talk to their friends about past purchasing experiences, the resulting “information overload” can become downright debilitating. Should they snap up a property right away? Should they wait to see if the price of a particular property drops a few thousand dollars next week? Or perhaps they should simply keep looking in the hopes of finally locating that perfect property in the perfect neighborhood for the perfect price? As this sense of indecisiveness increasingly takes hold, the role of real estate agents to help their clients overcome these feelings of self-doubt by showing empathy and patience. Agents can ask specific questions about the client’s evolving concerns. They can help the client sort through the current information, and they can perhaps identify missing information that the real estate investor still requires before making a confident and gratifying purchase.