TikTok, the short-form video-sharing app best known for viral 15-second clips of people dancing to popular music, is emerging as an important home buying tool for a new generation of homebuyers.
The pandemic kicked into full swing just as many Millennials (individuals ranging in age from 23-38) were preparing to enter into homeownership. Remote work and lockdowns left many people in front of a computer or phone more than ever before. It also triggered REALTORS® to adapt and begin showing properties online to meet the needs of buyers while adhering to social distancing guidelines.
It was, perhaps, the perfect storm to launch TikTok into the house hunting lineup. The median age for a first-time homebuyer, according to the National Association of REALTORS®, is 32 and about one-third of TikTok users are 30 and older. That, combined with the fact that nearly 80% of Millennials reported they would buy a home sight unseen, has propelled TikTok’s home search popularity.
Homebuyers are using TikTok to tour homes and gain real estate-related advice and education.
TikTok Home Tours are Like Property Hype Videos
It’s one thing to scroll through pictures of homes for sale online, but it’s a completely different experience to see a well-edited home tour on TikTok. Set to popular music and combined with dazzling filters, these brief videos are getting people pumped about properties.
Cynthia Guerrero wasn’t even looking to buy a home, but REALTOR® Joseph Felling’s (@fellingisselling) tour of a newly constructed home in Forney, Texas caught her eye. She bought the house and has plans to move this spring.
Felling’s home tours, which contain captions like “This is what $423,950 will get you in Celina, TX” are set to upbeat songs and highlight the home’s features while giving viewers an interactive and intimate view of the property.
Real Estate Professionals Are Using TikTok to Educate and Inform
There’s a lot happening for real estate on TikTok besides buying and selling. Many REALTORS® and lenders are using the platform to provide essential advice and education to young homebuyers.
REALTOR® Quen Williams (@quenwilliamss) breaks down basic real estate definitions like “earnest money” in easy-to-understand terms. She told BuzzFeed, “My ultimate goal is for people to have financial wealth and freedom and build generational wealth.” She continued, “Most people with generation[al] wealth built it with real estate. As a Black woman, I see that there’s a huge gap in generational wealth between white households and Black households, and the biggest difference in that is homeownership. I want everyone to know it is attainable.”
If you’re looking for someone with a blend of passion and professionalism, Vanessa Aragon (vanessaaragonrealtor), an Arizona REALTOR®, is a great choice. Her video explaining the “9 Most Important People Involved in the Home Buying Process” gives viewers a clear and succinct explanation of the key players in a real estate transaction. She’s amassed nearly 150,000 followers with her numerous relatable educational videos.
You’ll also find mortgage professionals on TikTok who explain complicated lending terms in approachable ways. Nate Fain (@mortgages.are.boring) has a mix of humorous videos and educational clips, which makes his TikTok feed appealing to Millennials and anyone else looking to learn more about the lending process in a non-intimidating way.
If you’re a home buyer looking for a more intimate view of a potential home, or a first-time homebuyer trying to understand how to improve your credit score, TikTok can help your home search. It seems TikTok’s time in the world of real estate is just getting started.