The Important Homebuying Advice a Real Estate CEO Has for Millennials

published Aug 7, 2021
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Buying a home these days is certainly not easy — and new technologies, all-cash buyers, and a dearth of supply are a few things making it even harder. It’s safe to say that the housing market millennials have entered is quite different than the ones their parents bought into. Here’s the advice Kuba Jewgieniew, CEO at Realty ONE, has for millennial buyers dipping their toe into the market this year.

iBuyers shouldn’t replace real estate agents.

With so much information available on the internet, some millennial homebuyers are leaving real estate agents behind in favor of iBuyers. These are real estate services that are capable of sending instant cash offers on a property. Millennials in particular can be especially drawn to these services, due to the way they embrace new technologies that promise to make an already complicated process easier. 

The surge in new real estate tech, and an adoption of even more virtual technology during the pandemic, have left some thinking that they can drop the middleman and buy and sell without a licensed real estate professional. “But that’s the opposite of what you need in a competitive market like this, especially first-time homebuyers,” explains Jewgieniew.

With many millennials hoping to become first-time homebuyers in the near future, a tendency to rely too much on technology can spell disaster. “I love our new generations and how they’ve changed consumer behavior entirely,” Jewgieniew explains. “We have access to so much information online now, and we meet with so many buyers who come armed with a ton of knowledge before they even connect with a Realtor. But a talented real estate professional can help cut through some of the noise online, better analyze market trends, and be a long-time advisor for you, even after your home purchase.”

Though it’s important to partner with the right agent.

While many real estate apps can offer a great deal of convenience for millennials, Jewgieniew says relying too heavily on them can be a huge mistake. “These options are too impersonal and rely on algorithms,” he explains. “I worry that those who only utilize an iBuying platform or online home valuations would not have an accurate estimate, and furthermore what living in that home and neighborhood would be like or what the value of that home could be in 10 to 15 years.” 

This is why Jewgieniew says his number one piece of advice for millennials is to partner with the right real estate agent. “A knowledgeable real estate pro knows the neighborhood, the history of the home, zoning regulations, proximity to amenities that will improve the value of that home,” and more.

There’s so much to know about buying, flipping, and investing in rental properties, that Jewgieniew says you need to partner with an experienced real estate professional to understand it all. “The right professional will also have an extensive network that you can tap into as a support system; these qualified individuals can help you make intelligent decisions at every step of the process.” While an app can offer you convenience and some information, it can’t do everything for you that a trained professional can. 

Relationships with your agent can last long after closing.

You don’t need to be actively looking for a home to talk to your real estate agent. Most real estate professionals value relationships with past clients, according to Jewgieniew. “More than just referrals, we work so hard for our families over the course of the transaction and can become personally invested in landing them in just the right home that we want to hear from you as the years go by,” he explains. 

“We want your investment to pay dividends for you in the future but we also want to celebrate life milestones with you like new babies, graduations, new jobs, all of which can also lead to a move.” Jewgieniew says that most real estate agents want to be there for their clients, so you shouldn’t hesitate to connect on social media and reach out when you have needs or questions long after closing is complete.