According to 2000 Census Data, Gen Yers (or Millennial) are poised to make up the bulk of the overall US population within the next 20 years. Millennial are member of the generation of children who were born between the years 1977 and 1994. There are over 84 million Millennials in the population now. One quarter of the US population is part of this generation. They are a diverse group with 1 in 3 non-Caucasian and 1 in 4 from a single parent home.

Millennial are just waiting for the market to stabilize before they begin their house purchases. The stage is already set for them. National studies from 2007, indicate that three quarters of the home buyers were between 18 and 24 years old, falling into this group. They are looking for stability, home buying agents they can trust, and a fair price.

This generation is computer savvy and knows that more information is just a click away. This also means that the competition is only a click away as well. Millennial want data, but they also want to work collaboratively to reach their goal of home ownership.

So, real estate agents and investors need to be ready to be a part of a team, and be ready to provide easy to access information for this new plugged in buyer. In addition, these buyers are technology experts and want contact any time of day or night via texting, IMing, blogging, or email. Instant messaging is the preferred form of communication, with 68% or more opting for cell phone texting.

This means home buying is going to move to a new level of real time. Homes will not be shopped for days by buyers who want to be driven around until they fall in love with their new home. Instead, the Gen Yers will have all of their facts available online and will make the home buying decision swiftly after they are well informed.

Your Social networking skills become very important. Social networking is ultimately about conversations. Blogging, podcasting, Facebook, LinkedIn, Twitter, My Space, FriendFeed, ActiveRain, are some of many tools focused on facilitating conversations.

Here are some examples of the impact of social networking. Facebook – 100 million active subscribers with 30 million photos uploaded daily. LinkedIn – 25 million experienced professionals, a marriage of an interactive resume and your address book, promoting yourself, your properties, or reviewing others. ActiveRain – This is the hotspot for real estate professionals to learn from each other. Social networking is important as you see, the numbers speak for themselves.

In order to move houses quickly and with less emotion in the future, real estate agents and investors will have to learn the new rules and capabilities. Technology is creating a new level of competition that the “boomers” will have to figure out when the market heats up.