Millennial Buyers Case Study
Dallas millennial first-time homebuyers are typically busy professionals without kids, they travel a lot and prefer low-maintenance homes that are move-in ready. Modern, trendy condos and townhomes that are close to their favorite restaurants, nightlife and friends rank at the top of their wish lists.
One of the biggest challenges millennials face as first-time homebuyers is finding a home that addresses all of the “wants” on their wish list at a price they can afford. On average, millennials earn 20 percent less than their baby boomer parents, and many are drowning in student loan debt.
However, it can be a challenge to find desirable inventory in the $375K or less price range, which is the sweet spot for first-time homebuyers in the Dallas-area market.
In order to buy a home in a preferred location – and at the right price point – it’s essential to work with a real estate agent with experience, resources and connections in the market. Here’s how dallas & beyond has helped millennial homebuyers get into the right home at the right price.
Knowledgeable About Communities and Homes Desired by Millennials
Every community in the DFW Metroplex has its own unique set of characteristics when it comes to housing, demographics, schools, transportation and community amenities. This is where the dallas & beyond team’s 20+ years of experience has paid off for first-time homebuyers.
Our team knows which areas in Dallas proper, surrounding communities and suburbs are popular with millennial buyers and what price homes in each community typically command.
“Mani was a great agent and helped us with buying our first home. He was very knowledgeable about the home value trends and the areas we were looking into,” says one millennial client.
The dallas & beyond agents also pay special attention to home features that are most important to millennial buyers.
For example, a recent Taylor Morris Survey revealed that 70 percent of millennials are turned off by outdated features and want luxurious design elements. Desired luxuries include energy efficiency, wood flooring, personalizable floor plans, easy maintenance, USB/ethernet ports and other high-tech perks. In addition, buyers often have special requests, which we strive to accommodate.
Lines of Communication Open 24/7
dallas & beyond’s millennial clients are very proactive buyers who want to be updated during every phase of the process. They also want to work with an agent who enjoys working with millennials and gladly takes the time to answer questions and educate them about the process.
According to one dallas & beyond millennial client: “I am a first time home buyer, and I wasn't sure on what I wanted and what I could afford. Alpana helped me plan financially and gave me valuable tips along the way. She helped me gauge what my needs were to make an informed and sensible decision.”
Proactive and prompt communication is also non-negotiable. We ask clients up front how they want to communicate – phone, text or email – to ensure they get the updates they need, on their terms, ASAP.
Attentive and Ready to Act Fast
It’s no secret; inventory is tight in the Dallas housing market. In order to have the best shot at homes most desirable to millennials, the agent has to stay on top of new listings and be ready to act right when the client is ready to make an offer. At dallas & beyond, we’ve given millennial buyers the edge, because we act quickly and know how to prepare an offer that is agreeable to both sides.
“We contacted dallas & beyond after working with a seasoned agent in the area, after realizing we did not get the attention we deserved. Mani was extremely thorough from start to finish. He made the entire process extremely easy. Mani is committed to finding your dream home, extremely talented, hardworking, honest and has extreme attention to detail,” explains one millennial homebuyer.
Experts at Negotiation and Knowledgeable about Alternate Financing Options
The dallas & beyond team’s extensive experience negotiating deals in the “sweet spot” price range of $375K or less is definitely a plus for millennial buyers. But the edge buyers get with our team goes far beyond skilled negotiating. The team also has extensive experience on the investment side of real estate. We know how to analyze deals, bring buyers together with sellers and be innovative with transactions.
This can make a huge difference for millennial buyers in the short- and long-term. For example, we look at potential economic growth factors within the local area, so we can direct buyers to areas where home values are likely to increase. Our expertise also benefits millennials, because we are familiar with alternate financing options that other agents often don’t consider.
According to some dallas & beyond clients:
“Mani was my buyer’s agent and advisor when I bought my home in Lewisville. I approached Mani to represent me because of his knowledge in the market and his client service expertise. Mani and his team have been fully committed and involved in the whole process and took care of all the items that needed attention. He is a very thorough and genuine person to know – keeping his client’s interest first. I would recommend Mani and his team to anyone buying or selling a house.” - F. Avila, Zillow
"Mani and his team have helped me with the sale of my home. The team worked very hard and helped me sell the house. The entire process form the time I met Mani till close was very transparent and smooth. The team provided me an update from time to time and kept me in the loop in the whole process. From preparing my home to go live until it closed – everything went smoothly. Mani has taken care of the items while I was overseas. I truly recommend Mani and the dallas & beyond real estate group to anyone buying/selling a house." - V. Prabhu, Zillow
Our expertise in serving millennial buyers – along with our client-first mentality – truly sets dallas & beyond apart from the competition.
To ensure optimum results for our millennial clients, the dallas & beyond team is in constant communication from day one. From learning about the buyer’s needs and goals to visiting prospective properties until we find the right one to keeping the client up to speed on negotiations – the team keeps moving the ball forward through closing and beyond.
dallas & beyond real estate group