R
eal estate agents who fail to leverage social media are missing out on opportunities to expand their sphere, particularly with young consumers. According to the 2024 RE/MAX Future of Real Estate Report, 41% of Gen Z and millennials use social media to learn about real estate. Two-thirds of these consumers say that agents on social media make it easier to find properties and provide more accessible information on home buying and selling processes.

    Gen Z and millennial preferences are evolving, including what they look for in a prospective home and how they plan to achieve homeownership. The combined Gen Z and millennial generations account for 41% of buyers and 25% of sellers in the U.S., making it essential for industry professionals to understand these trends.

    The RE/MAX Future of Real Estate Report highlights key findings, including:

    * Facebook is the top social media platform for Gen Z and millennials to browse the property market.

    * Home search websites and portals are not the only places consumers are looking for properties; they also visit agent websites, Facebook, and Instagram/TikTok.

    * One-third of younger consumers prioritize finding a real estate agent with expertise over other factors.

    * Clear communication is a top priority when Gen Z and millennial consumers seek an agent.

    * Family members are the primary source of guidance for these buyers and sellers.

    * 57% of Gen Z and millennials want to be homeowners before starting a family, citing stability as a key factor.

    * Move-in ready homes are preferred over fixer-uppers, with 32% of prospective first-time buyers seeking this type of property.

    * Local amenities are the top priority feature for Gen Z and millennial homebuyers.