No one can deny the buzz about millennial’s in the real estate market. Having this young, tech-savvy, and affluent generation jumping into market is definitely a game changer. Learning how to approach and best attract this millennial market will fundamentally expand your business. Here are some tips:
- Giving honest, good advice – Younger generations are savvy and expect transparency. With all the information available on the net, expect them to do property searching, using mortgage calculators and relying on peer-to-peer reviews. Giving them that insider tip not typically found anywhere is a great way to establish attention & trust.
- Thinking differently about marketing – Millennial’s turn a blind eye to all the generic listing posts on Facebook and Twitter. Using social media to share engaging questions, local information and contests/incentives will break the noise and keep the younger generation interested.
- E-signatures and electronic paperwork – Millennial’s already understand and have a very high comfort level with technology and they want a REALTOR who can relate. Sending your real estate agreements with e-signature options will impress your client and prove you’re relevant.
- Keeping an eye on changing preferences – Some city dwelling millennial’s may feel a trendy condo in the city is appropriate for their first home. Alternatively, some millennial’s may be searching for a place with a bit more space (instead of their tiny college dorms or student share houses) or using their homes as a source of income with services like AirBnb. Knowing these factors can help you better target their first home.
- Change your approach to open houses – Appeal to their love for local products, music, and design. Think craft beer instead of wine, minimalist decor and finding a way to incorporate social media, whether it’s things to share on Instagram or Pinterest, or simply “Checking In” on Facebook.
For more info, check out the articles below.