The home buying process has changed dramatically over the past decade, but this change isn’t limited to the digital space. Will real estate agents become extinct, then? Well, it also affects generations. Millennials, Gen Z, and Millenials are all using social media, making a more significant impact than their parents and grandparents. The study found that people who used social media during home-buying were more likely to purchase a home in the next two years. They also bought a larger house and put more money down.
Millennials
The Millennial generation is the generation of young people who are in the market for a home. This group grew up in the 1980s and 1990s and represented a significant percentage of the home-buying population. These individuals are information-hungry, tech-savvy, and visual learners. As a result, millennials have different priorities than previous generations and present unique challenges for the real estate market.
Social media is essential for homebuyers and sellers to reach this new demographic. Millennials have been quick to embrace technology and may opt to use a “For Sale By Owner” or buying platform instead of an agent. However, having an agent available to guide them throughout the process can be advantageous. In addition, agents can help homebuyers make decisions, particularly during bidding wars.
Gen Z
Generation Z is a growing generation, and the number of young adults buying a house is expected to continue increasing. However, there are some challenges facing Gen Z buyers. The most common problems they face are affordability and lack of savings for the down payment. Also, many of them are worried about their credit score.
Most Gen Z buyers are first-time home buyers and may require more help than a more experienced buyer. They are also likely to have spent a lot of time online, so they may be more likely to need assistance during the process. Real estate professionals like realtors near me should understand their needs to serve their clients better. Many Gen Zers have not experienced the world without the internet, so it is essential to know how to appeal to.
Gen Xers
Recent research has found that millennials and Gen Xers are more likely to use social media than previous generations in home buying. According to Pew Research, millennials are more likely than previous generations to use social media for home buying information. However, the study also revealed that Gen Xers and baby boomers are less likely to use social media for home buying information.
The most negligible generation – those born between 1965 and 1980 – is now moving out of their parent’s homes, and they’re juggling careers and child care. They’re also more pessimistic about their retirement and want their own space.
Creating Panic Buying Behavior Through Social Media
This study examines the impact of social media on panic buying behavior. The findings highlight that social media increasingly influence consumers and that personal and social factors influence their consumption. While the study provides a framework for examining panic buying behavior, it does not account for the many other variables that influence consumer behavior. These factors include global logic, social influence, and authority communication.
The use of social media in the home buying process can influence consumer behavior by shaping collective and individual panic buying. This type of social constructionism is a way to understand the social effects of a specific situation without looking for universal laws that govern human behavior. It also promotes social exchange and proactive action.
Using Branded Hashtags to Build your Following
If you’re a real estate agent, using branded hashtags to build your following can help you stand out from competitors. Use them to promote your team or highlight your listings. Be sure to include the home’s features, which can influence a buyer’s decision.
For example, you can use #sanantoniorealestate to target people in that area. Using branded hashtags will help your posts appear in search results and attract local buyers.
