Dreaming of Home: Many Gen Z and Millennial Homeowners Plan to Sell in the Next 12 Months, According to Coldwell Banker Survey
Coldwell Banker survey reveals many Gen Z and Millennial homeowners plan to sell in the next 12 months and that many Americans, of all ages, think more highly of agents with a strong social media presence
MADISON, N.J. (March 28, 2022) – 2022 is shaping up to host another hot real estate market with more than two in five (44%) of Gen Zer homeowners (age 18-25) and over a third (35%) of Millennial homeowners (age 26-41) saying they plan to sell their homes within the next 12 months, according to the latest survey commissioned by Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) company, and conducted online by The Harris Poll among over 2,000 U.S. adults. With so many young American homeowners planning to sell in the next year, they need tools and guidance to navigate the tight housing market.
Strategically, Coldwell Banker just launched its 2022 Seller Strategy, reinforced by the Dream ad campaign, designed to get homeowners to dream about moving to that place they’ve always desired. The strategy comes complete with a refreshed ColdwellBanker.com that includes tools like the CB Estimate℠, Move Meter℠ and the Seller’s Assurance Program, all designed to focus on what sellers need to make listing their homes seamless. With the CB Estimate℠, home sellers can get a free, instant online estimate of their current home. The Move Meter℠ is a proprietary tool built to help people dream with data by comparing various data points to evaluate a move from one place to another, including: housing affordability, quality of life, job market strength and living affordability. While the Dream ad campaign kickstarts those dreams, arming sellers with efficient tools and knowledgeable agents is what puts those dreams into motion.
Meeting Consumers Where They Are
The same Coldwell Banker survey found that 59% of Gen Zers and 65% of Millennials say they expect good real estate agents to use social media (e.g., Facebook, TikTok, Instagram) for marketing purposes (e.g., to sell themselves as an agent, to post their home listings). Coldwell Banker affiliated agents are equipped with the knowledge and social media influencer status to meet these potential sellers where they are and to help them realize their dreams.
Coldwell Banker commissioned the survey to understand how much they value a real estate agent’s social media presence. Findings include:
- Older Americans Value Social Media, Too: 58% of Gen Xers (age 42-57) and 60% of Baby Boomers (age 58-76) strongly or somewhat agree that they expect good real estate agents to use social media for marketing purposes.
- A Majority of Americans Agree: 61% of all Americans would expect good real estate agents to use social media for marketing purposes.
- The Social Generation: Nearly two thirds of Millennials (65%), and nearly half of Americans overall (48%), would think more highly of a real estate agent if they had a strong professional social media (e.g., Facebook, TikTok, Instagram) presence.
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More than two in five (44%) Gen Z and over a third (35%) of Millennial homeowners plan to sell their homes within the next 12 months, according to our latest survey with The Harris Poll. @ColdwellBanker agents are ready to kickstart your dream move: https://blog.coldwellbanker.com/genz-millennial-homebuyers/#DreamWithCB
“With more than two in five Gen Z and over a third of Millennial homeowners planning to sell their homes in the next 12 months, reaching these generations is key to unlocking inventory in 2022. I am confident that our Coldwell Banker network is ready to meet these sellers where they are and, paired with our Seller Strategy and supporting Dream campaign, help make their dreams come true.”
- Ryan Gorman, CEO of Coldwell Banker Real Estate LLC
“With so many Gen Zers and Millennials dreaming of home, we’ve revamped our website during our Dream campaign with the CB Estimate℠, Move Meter℠ and the Seller’s Assurance Program that will guarantee they’ve got the tools to sell their current home. Paired with the help of our outstanding agents and their innovative social media marketing skills, we guarantee they’ll be in the best hands for this spring selling season to get the most for their home and make the move into their dream home.”
- David Marine, CMO of Coldwell Banker Real Estate LLC
This survey was conducted online within the United States by The Harris Poll on behalf of Coldwell Banker from February 3-7, 2022, among 2,012 U.S. adults ages 18 and older, among whom 1,309 are homeowners. The survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodologies, including weighting variables and subgroup sample sizes, please contact firstname.lastname@example.org.
About Coldwell Banker Real Estate LLC
Powered by its network of over 100,000 affiliated sales professionals in approximately 2,200 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today’s marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2022 Women’s Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is moving the real estate industry to what’s next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company’s diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,700 independent sales agents in the U.S. and approximately 136,700 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today’s consumers. Recognized for ten consecutive years as one of the World’s Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row and is one of LinkedIn’s 2021 Top Companies in the U.S. and honored on the Forbes list of World’s Best Employers 2021.