Have You Bought into this Dangerous Myth about First-Time Homebuyers?

First-time home buyers have historically been a large niche for real estate agents. As each generation enters the workforce, their desire to own a home logically follows after quite soon.

This trend has been hotly debated as the rise of the millennial homebuyer has spurred some interesting opinions.

Conversations in recent years have resulted in many Realtors believing the millennial generation is the first group to break the status quo of home ownership. Are you one of the real estate professionals who don't feel that first-time homebuyers are a worthwhile source of leads anymore? If so, this new research will surprise you.

Let's explore the recent myth of the first-time homebuyer, and how you can profit big time from this important group.

The Myth About First Time Homebuyers

It seems like you can't pick up a newspaper lately without reading about unpaid interns or unemployed college graduates living in their parents' basement. We hear a lot about the millennial generation's struggle to enter the workforce.

As a result, the assumption has been that millennials will put off purchasing a home later than previous generations have.

Because of the media coverage on millennials, many real estate professionals believe that there will be a delay for this generation to begin purchasing property. We've been told that the market is simply too expensive for first-time homebuyers.

But recent research conducted by Zillow shows us that this assumption is incorrect. I would argue that continuing to believe this myth can be harming your success as a Realtor by missing out on sales and referrals.