First-time buyers shrinking presence what it means for agents

"When first-time buyers fall to just 21% of the market, it fundamentally shifts the agent business from one built on volume to one centered on expertise and long-term value."

"Fewer first-time buyers means fewer entry points for new agents. Many new agents cut their teeth on first-time homebuyers."

"With fewer of them in the market, there's been a shift toward really leaning into repeat clients and referrals."

"In Cottage Grove, the impact has been less pronounced. Aside from fewer overall units sold, we haven't seen a meaningful impact in our market."

First-time buyers now represent only 21% of the real estate market, down from nearly 40% before the Great Recession. This decline limits entry points for new agents, as many traditionally start with first-time buyers. Agents are now prioritizing relationships and repeat clients over volume. In some markets, like Cottage Grove, the impact is less pronounced, but overall, fewer first-time buyers are reshaping the industry dynamics and how agents build their businesses.

Read at www.housingwire.com