“Throughout this process, the biggest headache for consumers is losing an opportunity, and the fear of missing out,” says Kevin Ostler, director, Communications and PR, for HSF Affiliates LLC. This fear of missing out, frequently called “FOMO” among millennials, rears up in many of the younger generation’s actions, from their social choices to their spending habits, so it’s no surprise that it would surface in their outlook on homeownership.
The knowledge gap, as well as scrupulous mortgage requirements, means it is even more pertinent that consumers receive advice and guidance from real estate professionals. Of survey respondents, 63 percent indicated that a good agent can help them make the right choices about the type of home and community they want, while 64 percent believe that having a trusted source of information and guidance is important—a 4 percent increase from Q1.
As the market continues to make a turnaround and consumers remain eager, it’s more important than ever for real estate professionals to make connections.
“Clearly, confidence is on the upswing at 83 percent and rising with every survey we do,” says Stephen Phillips, chief operating officer for HSF Affiliates LLC. “I think the important thing is channeling this confidence, and directing it toward the right opportunities. Confidence is a great thing, but if we go back to situations where people are shooting from the hip with their investments, that can lead to problems. It needs to be directed, and the best way for that to happen is for folks to work with real estate professionals.”