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Why Working with a Local Real Estate Professional Makes All the Difference

Why Working with a Local Real Estate Professional Makes All the Difference

If you’ve entered the real estate market, as a buyer or a seller, you’ve inevitably heard the real estate mantra, “location, location, location” in reference to how identical homes can increase or decrease in value due to where they’re located. Well, a new survey shows that when it comes to choosing a real estate agent, the millennial generation’s mantra is, “local, local, local.”

CentSai, a financial wellness online community, recently surveyed over 2,000 millennials (ages 18-34) and found that 75% of respondents would use a local real estate agent over an online agent, and 71% would choose a local lender.

Survey respondents cited many reasons for their choice to go local, “including personal touch & handholding, longstanding relationships, local knowledge, and amount of hassle.”

Doria Lavagnino, Cofounder & President of CentSai had this to say:

“We were surprised to learn that online providers are not yet as big a disruptor in this sector as we first thought, despite purported cost savings. We found that millennials place a high value on the personal touch and knowledge of a local agent. Buying a home for the first time is daunting, and working with a local agent—particularly an agent referred by a parent or friend—could provide peace of mind.”

The findings of the CentSai survey are consistent with the Consumer Housing Trends Study, which found that millennials prefer a more hands-on approach to their real estate experience:

“While older generations rely on real estate agents for information and expertise, Millennials expect real estate agents to become trusted advisers and strategic partners.”

When it comes to choosing an agent, millennials and other generations share their top priority: the sense that an agent is trustworthy and responsive to their needs.

That said, technology still plays a huge role in the real estate process. According to the National Association of Realtors, 95% of home buyers look for prospective homes and neighborhoods online, and 91% also said they would use an online site or mobile app to research homes they might consider purchasing.

Bottom Line

Many wondered if this tech-savvy generation would prefer to work with an online agent or lender, but more and more studies show that when it comes to real estate, millennials want someone they can trust, someone who knows the neighborhood they want to move into, leading them through the entire experience.


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5 replies
  1. Troy Erickson
    Troy Erickson says:

    I can understand that 95% of all prospective home buyers start their search online, but there are many reasons why they end up working with a local real estate professional, as discussed in this post. Let alone, meeting the agent face-to-face, and being able to sit down with them and review paperwork, etc.

    Reply
  2. Finley Moreira
    Finley Moreira says:

    I think your point that a local agent has local knowledge of the area in which you’re buying/selling would prove to be a huge advantage. My wife and I are looking for a new place to live, so this is good to know. We’re pretty picky about the neighborhood we want to live in, and I can see how using a local agent could help ensure we move into a home with a great neighborhood.

    Reply
  3. Courtney
    Courtney says:

    Great post. I agree with all the comments already posted here. It makes sense that 95% of buyers start their search online. I search for homes online and I am not even looking to buy a house. It is just for fun! I can understand that people would want to work with an agent that they can trust. It is important to use a local agent to make sure you are getting the best information. The best thing about local agents is that they get the notifactions before a lot of things even go online. That is great for people who are looking to get a great deal if they are doing something like house flipping.

    Reply
  4. Sandra Hexner
    Sandra Hexner says:

    Thank you for all this great information about choosing a real estate agent! I really like your point about picking a local rep will be able to know the area more and also since they are local, then I’ll be keeping money within the community that I want to invest in. My husband wants to pick someone from a big corporation, but I’ll have to show him this article to show him it’s the service and end goal that provides the best service. http://joanneamoura.com/

    Reply

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