Today’s generation of homebuyers is not like any that preceded it. Mantras like “location, location, location!” guided generations of people looking to purchase a home. While a home’s location still has significance, there’s a lot more dictating how millennials today buy and sell homes today!
Millennials are the first generation to have been brought up with digital technology, and unsurprisingly, tech plays a huge role in their lives. This is a generation that knows how to leverage digital technology to get better deals in e-commerce, and relies on tech even when making the largest purchase of their life.
Read on to learn more about what millennials look for in a real estate transaction.
Real estate is not exactly famous for its transparency and openness. Historically, real estate agents have one set of data points, and buyers have another.
Even today, in Ontario, the government writes laws about things pertaining to bidding wars, such as who does and doesn’t get to see the offers. That’s part of why the digital innovator Regan McGee made Nobul – so millennials could enjoy a real estate tech platform that lets them connect with transparent data and agents.
With verified user reviews on a platform that doesn’t accept money from agents to get listed or ranked, users know they can trust the data on the app.
Millennials are accustomed to digital shopping experiences that seem to anticipate their needs and wants automatically. Digital personalization allows users to get what they want from the app with less strain and better results.
Real estate professionals need to look at how e-commerce embraces personalization, so transactions reflect the buyer’s needs and wants. In the past, brick-and-mortar retailers needed to rely on speculation or focus groups to determine what shoppers wanted.
The digital world uses AI to better understand each consumer before delivering what will make them more likely to complete the transaction. Buyers get everything they want with less time and effort. Such scenarios are truly win-win!
Nobody wants to make a mistake when they buy a home because the mistake may be particularly costly in time and money.
Nobul helps homebuyers fill in their blind spots before the deal is made, as agents are always reachable. They’ll help throughout your real estate journey as you navigate your way through its stages.
Nobul CEO Regan McGee noted in an interview with Toronto Life that, “focusing on millennial first-time home buyers, a generation accustomed to using technology to personalize their experiences while simplifying their lives, Nobul has come up with a streamlined process that educates users as they go.”
Nobul makes learning easy and fills in buyers’ blind spots before they sign for any mortgages. The key thing is to learn everything you need to know before you commit to decades of financing. Otherwise, the lessons learned will be costly, and you’ll suffer the consequences for an awfully long time.
Millennials understand the value of time and money. When a property comes up on the market, there is no time to waste. The number of bidding wars may have slowed down somewhat, but nobody wants to see their dream home pass by because of a needless delay.
Nobul’s algorithm, for one, has analyzed over a million real estate transactions, so it puts the perfect home listings into the user’s inbox as soon as they’re on the market. Most people know it’s important to respond quickly to the real estate market, but millennials using Nobul are adept at streamlining this process to be easier and quicker.
Young people today are making purchases with just a tap of their cards or even their smartphones. Naturally, purchasing property is a more involved process with more legal hurdles to clear because the stakes are a lot higher. Take the time needed for the process, but there’s no reason to waste any. Digital technology helps by letting buyers harness AI that puts attractive properties into their inboxes, so they don’t need to trawl the listings manually. Indeed, Nobul’s AI is so advanced the property listings you’ll get will seem personally curated for your taste and budget.
Millennials from different regions may be facing a rough entry in the overpriced housing market, but at least there’s digital technology available to make their purchase transparent, personalized, and more affordable. When making the most expensive and probably most important purchase of your life, what more could a person look for in a real estate experience than that?