Members of the Millennial generation are reaching an age where they're considering buying a home for the first time. As the largest generation since the Baby Boomers, this means that an influx of first-time homebuyers is on the horizon. Are you and your business ready?

Every generation faces their own set of home buying challenges. For Millennials, these challenges are often financial, thanks to a sluggish job market and a massive increase in student loan debt. These factors mean that this generation of first-time homebuyers often can't overcome the biggest obstacle to homeownership--saving enough for the down payment.

But did you know that there's a tool you can add to your IDX website that can remove this common homeownership hurdle? It's called Down Payment Resource (DPR), and it's available as a free member benefit to an increasing number of agents whose MLS subscribes to the service. DPR integrates with your MLS to provide you with information about down payment assistance programs in your area. It's the first step to removing the down payment hurdle for qualifying consumers.

Adding Value to Your Website

While an average of 70% of listings in any given market are eligible for down payment assistance, these programs are often underutilized. Information can be difficult to find--if homeowners even know about them at all, that is.