085: Rethinking What You Know About Gen Z and Millennial Homebuyers
Center for REALTOR® Development
Release Date: 06/09/2023
108: Center for REALTOR® Development 108: Mastering Win-Win Negotiation Strategies with Evan Fuchs: Part 1
Center for REALTOR® Development
Today’s topic is so essential: negotiation! It has always been important. As our markets have been shifting and industry changes are happening, we need to go back to remembering the basic and core tenets of good negotiation while also understanding the nuanced parts of that shift within the market and the specific needs of our clients. My guest today, Evan Fuchs, is a 28-year award-winning REALTOR® and industry leader from Bullhead City, Arizona. Negotiation is one of those topics we need to learn about all the time. Unless you’re writing a book on...
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107: Center for REALTOR® Development 107: Tech Meets Property: AI Trends in Real Estate with Dan Weisman: Part 2
Center for REALTOR® Development
We are in Part 2 of my conversation with Dan Weisman about AI in the real estate industry. Dan is a director of innovation strategy in the Strategic Business Innovation and Technology Group at the National Association of REALTORS®. In his role, he researches technology, strategizes what this tech may mean in the future, and builds relationships with tech leaders to better understand and drive innovation in the real estate space. This episode is where we get practical, starting with using generative AI instead of Google for searches. How would that help you? What...
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106: Center for REALTOR® Development 106: Tech Meets Property: AI Trends in Real Estate with Dan Weisman: Part 1
Center for REALTOR® Development
Today, we will talk about AI in the real estate industry with Dan Weisman, a director of innovation strategy in the Strategic Business Innovation and Technology Group at the National Association of REALTORS®. In his role, he researches technology, strategizes on what this tech may mean in the future, and builds relationships with tech leaders to understand better and drive innovation in the real estate space. He is in the thick of thought leadership, creating new things for us. I asked him how I, as an agent, could personally use AI to help me in my business....
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105: Center for REALTOR® Development 105: Buying that First Home: Insights from a Gen Z Buyer and Generational Trends with Ali Whitley and Martin Whitley: Part 2
Center for REALTOR® Development
Today we have Ali Whitley and her son Martin Whitley back with us for Episode 2, where we discuss generational dynamics in the workplace and with our clients. Martin tells us more about his journey and how he decided he needed the specific house he purchased. There might be a pet involved! We discuss how it is a discouraging time for first-time home buyers, but there are ways you can get into the market. These two episodes are great to share with your clients! We are talking to REALTORS®, but this conversation is great for giving hope to potential buyers...
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104: Center for REALTOR® Development 104: Buying that First Home: Insights from a Gen Z Buyer and Generational Trends with Ali Whitley and Martin Whitley: Part 1
Center for REALTOR® Development
People are all different. With an open attitude on our part, they are a constant source of opportunity for education, and learning. I love learning from other people. One of my favorite topics over the last 10 years or more has been about generations. I’ve been learning and teaching about how people of different generations act and react since I began teaching the Senior Real Estate Specialist course in 2009. While stereotyping people is never good as a general rule, there are some things we can learn from studying cultural differences and commonalities within a group. My guests this month,...
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103: Helping Your Buyers Purchase New Construction with Trenesha Harrison Part 2
Center for REALTOR® Development
Here we are, back with Trenesha Harrison, for Episode 2 on New Construction. In our first episode, we discussed new construction from the perspective of the on-site agent, which is how Trenesha started in real estate. In this episode, we’ll discuss how to help you be more prepared as a buyers’ agent, bringing your buyer to the new home community. The two episodes go together, so we suggest you listen to both. Trenesha lives in Oklahoma City, Oklahoma, and she loves new construction because it’s always changing; it’s always different, and there’s so much that we can learn from...
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102: Helping Your Buyers Purchase New Construction with Trenesha Harrison Part 1
Center for REALTOR® Development
I love to be able to participate with my buyer clients when they want to buy new construction. I have bought two new homes, and I love the process of choosing what I want, watching it get built, then knowing how it was built, and having time to make a plan for the move. It’s not for everyone but it is a great option for a lot of people, and it is generally a bit more reliable than what we encounter with resale purchases; not always, but generally. Not all agents feel comfortable selling new construction, though. My guest this month, Trenesha Harrison, and I are going to help you see the...
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101: Explaining the Buyer Agreement and How to Use it Effectively with Brent Lancaster: Part 2
Center for REALTOR® Development
In Part 1 with Brent Lancaster, we started the conversation about the Buyer Agreement and it’s a timely conversation. We recorded this before the proposed settlement from NAR was released. While the settlement is still proposed, and it’s not final, one of the key points in it is the importance of a signed agreement with our buyers. There are details to be clarified but it seems this topic is even more relevant than before we recorded it. This agreement with buyers to work together and get paid for the work you do is crucial for us. Brent owns a school and teaches CE classes in many...
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100: Explaining the Buyer Agreement and How to Use it Effectively with Brent Lancaster: Part 1
Center for REALTOR® Development
Please Note: Effective August 17, 2024, all MLS Participants working with a buyer are required to obtain a written buyer agreement before touring a home. For details about this and other practice changes, please visit facts.realtor. This is our 100th episode — 100 great episodes with so many amazing people who volunteered their time to help you be the best agent you can be! So many helpful topics for your business! Who has been with me on the whole journey, even if you missed a few? If you see me out on the road at Midyear, Annual, or in a class, greet me and tell me what your favorite...
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099: Navigating Client Conversations: Communicate Your Value with Confidence and Clarity with Lynn Madison: Part 2
Center for REALTOR® Development
Please Note: Since the recording of this episode, NAR entered into a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. To learn more, and to prepare for the practice changes taking effect August 17, 2024, go to . Welcome to Part 2 of my conversation with Lynn Madison! Today we are talking about different business models. As you refresh your presentation of what you do and what you charge, we want you maybe to consider some other options or, at least, some other parts of the business and we also want...
info_outlineIn this episode, we are joined by Mandy Neat who is going to discuss commonalities in homebuying trends with Generation Y (Millennials) and Generation Z. With significant cultural changes happening at increasingly fast speeds, we see notable differences in these generations. While we never want to generalize, there are some markers with these generations that can help us understand our clients better. In this episode, we learn more about these generations and how we can manage their expectations with preparation and communication. We want to help you be able to help them!
[5:20] Mandy discusses the different generations. She brings up a conversation with a Gen Z about what he would want in a house.
[7:33] Gen Y is the next largest home-buying group after Baby Boomers.
[11:06] Mandy sees that people are not going right to college from high school. They see housing as an asset. Some are buying investment properties.
[15:46] Younger Millennials are becoming first-time home buyers. They are trying to pay off their student debt, while Gen Z is avoiding going into student debt.
[18:55] COVID-19 changed house-buying habits. At the beginning of COVID-19, Younger Millennials and Gen Z-ers jumped into the market without fear.
[21:48] Gen Y and Gen Z want everything to be easy to understand. Home buying is potentially complicated and may take time. Mandy discusses the Consumer Financial Protection Bureau (CFPB) as a resource.
[27:55] Younger people go to an app on their phone to get information. Real estate professionals need to get in front of technology trends.
[30:11] Mandy talks about DPA (Down Payment Assistance) which can help clients buy a house. She also discusses knowing your Confirming Loan Limit.
[34:44] Mandy shares that a lot of Gen Z-ers are using family gifts. There are All-In-One Loans where the home buyer can set up a GoFundMe account to be applied toward a down payment. Lenders are coming out with products to help young borrowers.
[37:11] TikTok and YouTube make everything look so easy when it comes to home updates. People are opening their minds as to what is possible.
[41:12] Mandy is seeing more people buying homes with spaces to work from home and have a social life at home. There is a lot of openness in floor plans.
[44:19] Millennials care more about walkable city living rather than their apartment. Gen Z-ers are buying out of the city in more affordable growing areas.
[47:35] Mandy comments on what she observed recently in Wichita, Kansas, with a community full of Gen Z-ers, built around diversity.
[51:56] Mandy hopes that all generations will allow Gen Z and the younger Millennials to get in the conversation of infrastructures, jobs and how to make a difference.
[52:40] If you enjoyed this episode, there are classes you can take to enhance your knowledge: ABR® (Accredited Buyer’s Representation), and the Buyers by Generation: Success in Every Segment course.
Tweetables:
“It’s just how their brains are wired. They have so much information. At 18, there’s no reason not to go out and purchase, instead of paying all this tuition money, and build your legacy for your wealth in the future. It’s an amazing generation.” — Mandy Neat
“We need good loan officers. We need to empower the mortgage industry to take time with people … and show them the numbers … and … professionals in the real estate community that are willing to … go over it with them to make sure all their questions are answered.” — Mandy Neat
“You can obtain a Down Payment Assistance Program and offset your down payment. Try to negotiate closing costs with the seller. You can come in with a minimal amount and own a half-a-million-dollar asset. What other country can you do that in?” — Mandy Neat
“Gen Z and Millennials have this great thing where lenders are coming out with products to help them collect money to buy a house.” — Mandy Neat
Guest Links:
Mandy Neat, REALTOR®
Deputy Commissioner, Arizona Department of Real Estate
Arizona Association of REALTORS®
Consumer Financial Protection Bureau (CFPB)
Foreign Investment in Real Property Tax Act (FIRPTA)
NAR Resource Links
The ABR Designation
Additional Links:
Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Learning.REALTOR - for NAR Online Education
Training4RE.com — List of Classroom Courses from NAR and its affiliates
CRD.Realtor - List of all courses offered
If this conversation has helped you realize that perhaps more conversation about generations would be helpful, there are classes you can take: the ABR® and an elective, Buyers by Generation: Success in Every Segment. crd.realtor
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTOR®
Monica’s Facebook Page
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Mandy Neat
Mandy Neat is the 2023 Treasurer for the Arizona Association of REALTORS®. She serves on committees and as a member of the board of directors for the local association WeSERV, which is the West and Southeast REALTORS® of the Valley, where she is also a Past President. She serves with the Arizona Association of REALTORS® and the National Association of REALTORS®. She obtained her license in 2004 and has continued to serve her community as an advocate for home ownership as well as assisting other professionals to succeed. She truly believes in her value statement of making you matter. As a current managing broker of Realty One Group, she puts her agents’ needs and their clients first, daily.