Are agents ready for the new kind of homeowner joining the market? A new report released by Century 21 took a deep dive into the stats behind the newest cohort of potential clients — young Millennials and Gen Z. But before you go looking up new slang, know that these buyers are serious about finding a home that not only has the right amount of space but also puts them in a neighbourhood and larger community that they can become a part of.
The right agents are involved in their communities and show potential buyers how to do the same
“The right agent doesn’t just know the nearest parks and schools, but they know and are involved in their community,” explains Todd Shyiak, executive vice president of CENTURY 21 Canada. “A lot of our C21 Canada brokerages support their local sports teams and hold events to get people out into the community, and it’s a big source of pride for our brand.”An agent who can paint the picture of how a couple of new neighbours can join the fabric of a community could see themselves become the go-to agent for young buyers and get referrals as more of their friends get into the market. All it takes is a solid understanding of what feelings and goals are driving their home needs.
Be a source of reassurance & prove your community connection to attract new clients
As younger buyers are coming into the age range where they’re looking to put down roots and purchase their first home, the Century 21 survey shows that 50 per cent of Gen Z homebuyers reported feeling joy around their move, though only 36 per cent felt hope. “An agent who wants to attract new clients needs to be a source of reassurance,” says Shyiak. “If they can prove their community connection, they’ll find buyers who respond to that local expertise.”
The report shows just how much community is increasingly becoming a higher priority on the list of considerations. The Gen Z cohort is grappling with the rise of loneliness and factoring mental wellness into their homebuying decisions.
Being closer to family & friends: Outrank traditional considerations for moving
According to the Century 21 study, “being closer to family” is the third most given reason for a move, with “being close to friends” ranking as fourth. These reasons outrank traditional considerations such as lower cost of living and job opportunities, demonstrating a shift in thinking in this new class of homebuyer. They don’t just want to find a community — they want to impact it, with one in four young buyers planning to get involved through local politics, school committees and other entrepreneurship.
With these goals in mind, they’re going to be searching for an agent who doesn’t just know the ins and outs of the neighbourhood market, but who can also act as a guide to a community through authentic lived experience.
Authentic community ties for agents
But what do authentic community ties look like for a real estate agent? It could mean participating in local activities or sitting on the boards of local charitable events. 65 per cent of intending homebuyers rate “getting involved in the local community after they move” as “very important,” and an agent who can make suggestions to their clients on how they can do that is demonstrating their value and building a foundation for a referral relationship that’s sure to last years.
Shyiak explains that agents have to be known to their community: “To be trusted, you need to get out, get involved and meet people. That effort gives agents the credibility to guide newcomers and make sure they’re matching the place to the person.”
With the strong sense of community connection that younger buyers are prioritizing, it stands to reason that their ties to the people who helped them find that community would be long-lasting. If an agent takes the time to demonstrate their love and knowledge of their local community, and their hand in shaping it, they’re sure to make a lasting impression on a buyer.
As the needs of Millennial and Gen Z homebuyers evolve over time, forward-thinking agents can set themselves up to reap the rewards of these first impressions and segue them into client relationships that will stand the test of time. But remember — authenticity is key, so don’t just talk the talk, get out into your community and walk in the shoes of the people who call it home.
