August 3rd, 2018
Millennials are officially running the purchase market. According to Ellie Mae, 91% of new home purchase loans in June were for Millennial borrowers. Meanwhile, they also now make up 36.5% of all homeowners in Q2 of this year.
We've said it before, and we'll say it again. As an MLO, you have to understand your borrower's mentality and satisfy what they're looking for. As the Millennial market continues its industry takeover, you have to adjust your sales techniques to become more of an advisor, an expert, and an options-maker, as well as take advantage of any new technologies you have access to in order to cater to their digital preferences.