[MARKET/TREND]: 5 Things About Gen Z that Every Realtor Must Know

As an agent, a broker, if you’re still set on the previous “Millennial” generation that’s unfortunate but you’re about to miss the bullet-train that is Gen Z. As a professional, I assume that you’re bombarded today with news, infographics, and not to mention surveys with details on Millennials and how to market, sorry talk to them.

But we’re collectively forgetting something? Gen Z has popped up suddenly as the oldest Gen Zers turns 24. We saw purchasing markets rush to collect data on this new and exciting group, therefore, we didn’t want to see you lagging behind.

Home Ownership: 82% of Generation Z believe that it is the most important factor of the American dream. 97% of them said that they will own a home in the future and they would rather start making the sacrifices today.

Platform: 95% of Gen Z said that they will take their first home buying steps online. Gen Z is the first truly digital generation, they grew up with an iPhone but they’re more optimistic than the “innocence lost” mentality of Millennials.

28: It’s the age at which a staggering number of Gen Z intend to but their first home. Gen Z makes up 26% of the population born from ~1996 to 2012 but information sometimes varies.

$275,000 that’s on average how much Gen Z is ready to put to buy a home

29% of Gen Z want to video chat with a real estate agent, not email or call but just video chat. Gen Z uses more video-focused social media such as Snapchat and Instagram.

You know how much Gen Z value social media. Gen Z is more connected than millennials therefore if you’re not focused on enhancing your social media presence it’s a huge mistake.

Think about it it takes just five minutes to set an Instagram account and If you don’t have any professional Instagram account, I urge you to consider it. You can show off your listings and create content to engage future homebuyers.

Realtors and lenders everywhere, it’s never too early to prepare yourselves as it relates to accommodating the largest generation with the most purchasing power yet. The majority of Gen Zers are still too young to affect the housing market today, but with 82% believing in the American Dream, they’ll start purchasing homes before you even realize it.

Frontdoor is a technology-driven company tackling hard problems by developing relentlessly helpful and habit-forming products that realtors use to understand and be responsive to customers in seconds.