Communication is key to capturing the millennial homebuyer. Millennials are not like your buyers from before. Millennials know what they want, and they know how to get it. With a wide network, it is likely they are associated with a real estate agent somehow. A referral isn't enough for millennials. They will do their research to make sure who they are working with is someone they'd like to be associated with. This calls for agents and lenders to be on top of their marketing game and responsive. Don't let lack of communication and dragging of the home buying process let you lose out on this buyer. Capturing a millennial can up your business drastically because of their loyalty to people and products they like and trust, and their network. A millennial will refer you in a heartbeat if you make a memorable impression.
Millennials are working hard in their early careers right now and most likely saving up by rooming with friends or family. They are becoming aware that renting on their own is looking more and more less likely of a good idea as rent prices rise.
Before the time of room-rental services, lenders could easily distinguish the difference between a primary residence and an investment property. With the introduction of Airbnb, Inc. and its rental counterparts, however, the distinguishing line between the two has been blurred. According to The Wall Street Journal, this has become a large problem for homeowners looking to refinance.