For just shy of a decade, the largest generation of first-time homebuyers, millennials, have been influencing the marketplace. But it’s not just homeowners who are making the decisions entirely, it’s their furry friends who are significantly impacting home purchase decisions. This trend has only accelerated with the pandemic as millennials and prospective homebuyers adopted pets in a heartwarming boom.
Understanding this trend as an agent will help you better cater to an up-and-coming buyer demographic and help you create a new buyer persona, list homes that are appealing to pet owners, and make more pet-owning millennials pet-owing homeowners.
Home and Local Amenities for Pets
A significant number of potential homebuyers identify that having a pet in their next home or rental is a necessity thereby making pet-friendly homes or accommodations a requirement. Naturally, that means homes such as condos, townhomes, or other similar single-family owned dwellings that require a fee for pets are on the table for pet owners.
Not only are different listings now available to pet owners, but many pet owners will look towards their pets’ needs when making a home purchase decision. Access to veterinary care, dog parks, and places to walk or exercise their pets will be a major consideration for pet owners. Additionally, having yard space and a pet-friendly home will go a long way toward appealing to millennial pet owners.
Community Policy Influences
While most communities welcome pets, depending on where you are and what your local municipality’s codes or homeowner association policies are may very well dictate where pet-owning buyers are looking for homes. Having a well-rounded knowledge of each community and city’s codes and policies regarding pet ownership will give you a leg up on your competition.
Not only will increasing your knowledge give you a competitive advantage, but it will give you a level of expertise when helping pet owners find communities or homeowner associations that are pet-friendly. This can be especially advantageous to realtors who are working with buyers looking to relocate to a new area.
Future Considerations and Limitations
Even if your community is very pro-Fido, there are some considerations for you as an agent to convey to your prospective buyers. Naturally, you’ll want to help them find a home with a yard for their pet (likely one with a good fence), and you’ll want to take their personal needs and desires for their pets, family, and future into consideration.
One thing you’ll want to keep in mind is the future of not only the buyer but the home itself. Pet-friendly homes are those that not only take the pets into consideration but take into account the things such as removing pet scents, cleaning up accidents, and generally making a pet-friendly home seem as though there were never pets in the home at all. While this may not be the most pet-friendly topic, it’s important to convey to your buyers that there will be a life to their home after they’re gone.
Be a Pet-Friendly Agent
When it comes down to it, being a pet-friendly real estate agent will give you a competitive advantage over other agents and open up an entirely new and prospering generation of homebuyers. Increasing your knowledge of pet-friendly homes and gathering information from other pet-owning homebuyers will continue to refine that edge and your ability to help millennial homebuyers moving forward.