Guest contributor Jason Forrest of REALTOR®Mag says:

Generation Y buyers are entering the home buyer's market armed with spreadsheets (digital, of course), instant communication, and an affinity for technologically friendly spaces. It's no surprise that studies are focusing on the Generation Y buyer. They're gearing up to make their first purchase or looking to put down roots and raise a family.

Sure, some of them are staying put. They're conservative and hesitant because they've been rocked by the economy, are laden with student debt, or lack job stability. But others have been renting and building wealth for 10 years. They've been waiting to see an improvement in the market and are anxious to buy a home—often even skipping a "starter home" in favor of more luxurious digs. Experts are considering how to reach this important audience. Brokers and agents need to know what these buyers are looking for as well as how (and where) to reach them.

Lure Them With Your Web Presence

Generation Y grew up with iPods, laptops, and mobile phones. They aren't communicating over e-mail (unless it's with their bosses) and they're using the Internet for everything from researching their future home to ordering pizza. You must be ready to communicate in a way that works for this group. Make sure you have a complete, user-friendly, mobile-enabled Web site that allows Generation Y buyers to access information on their own time—as they're winding down before bed or brushing their teeth, iPad in hand.