Millenial Buyers (Tech Savvy Generation)
1. Millennial Buyers consider the overhead costs such as transfer costs, bond repayments property rates & levies, moving costs, proximity to work, school, transit routes, leisure hangouts and maintenance costs and constantly compare fees.
2. They consider 1st home as a stepping stone for the future so they look at the possible future resale value of the property as the family grows.
3. Most are buying property on online portals example P24 and they will narrow their choices before they actually go out to view the shortlisted property.
4. Choice is hugely influenced by disruptors who offer cheaper buying options and fees. Disruptors also often have package deals that mean less commissions than the conventional agent. Example rent2buy, Attorney Realtor Hub.
How to stay Competitive
1. Create an online platform that allows for cheaper customised transactive packages.
2. Market properties with the headline of "Ideal 1st home", and then include the future resale value as the family and financial stability grows.
3. Possibly invest in 360° cameras for virtual tour (like Google maps for inside your property).
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