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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  June 18, 2008  |   How to Reach Gen Y Buyers
Some real estate professionals are finding success selling homes to an often overlooked customer base: Generation Y, whose members are no older than 28.

"This is an emerging trend," says Leslie Tyler, vice president of marketing at ZipRealty. "In the market today, first-time home buyers don't have as much money to spend (on luxury homes), but they don't have a home to sell. If they're ready to buy and have good credit and a down payment, they're valuable to have. They're more of a sure thing.”

Many members of the Gen Y generation have an advanced education, high earning potential, and are likely to buy even if unmarried. But selling to Gen Y does come with some challenges. Many are burdened with credit card debt and school loans. Plus, they are still close enough to their baby boomer parents to want them involved in the decision, so the housing choice has to please everybody.

Practitioners are connecting with this market by advertising online and participating in social networking Web sites like Facebook, and MySpace. They are also hiring younger associates who better understand Gen Y and the technology these twentysomethings rely on.

Source: USA Today, Stephanie Armour (06/17/2008)

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