Real estate agents know that getting to know your audience and customer base makes a huge difference when selling a house. Now that Millennials are surpassing Baby Boomers as the nation’s largest living generation, this is the audience we must focus on. The Millennial generation is defined as any person born between 1981 and 1996. This generation is preceded by Gen X and followed by Gen Z. Though this generation did not have as many total births as the Baby Boomers (62 million compared to 76 million), they are rising in percentage as the Boomer generation dwindles down. Here are five tips you should use when selling to Millennials:
Communicate their way Some Millennials love social networks and others despise them. Either way, Millennials definitely speak a different language than past generations. The Millennials who love social media will expect you to have updated accounts. The biggest networks to keep updated are Instagram, Twitter, and Facebook. You can’t just post on these sites and forget about it - Millennials will want engagement and interaction. If they send you a direct message or comment on a post, reply to them quickly. This generation also enjoys texting more than phone calls. Let these buyers know that you’re available for text, email, instant message or phone call. Millennials work quickly and rely on Internet-fast speed. To stay updated, you’ll have to make sure you have all the current mobile apps and e-signature technologies. Don’t let a technological delay lose you a sale! Since this generation is so tech-savvy, they also love seeing photos and videos before arriving at an open house. If you have the resources, get a professional photographer and create a virtual tour of the homes you are selling.
Be a resource Many Millennial homebuyers are first-time homebuyers. The experience can be very overwhelming, which is why you need to be a resource first. Show Millennials that they can trust you as a real estate agent. You can position yourself as a resource by providing content marketing to your potential buyers. Writing and publishing blogs, short books or even helpful social media posts can show your audience that you are a source of useful information. After they read and engage with your content, you will gain a connection. This connection can then be turned into a buyer through your marketing and selling methods.
Take the time to get reviews Reviews are important. When a Millennial researches which home to buy or which agent to use, they will see all the reviews available. Instead of your personality competing with another, your reviews and other agents’ reviews will be going head-to-head. The best way you can accumulate good reviews is by asking your best current and past clients to review you. Spread out your reviews by asking for reviews on multiple channels. Ask some clients to review you on Google, others on Facebook and Yelp.
Make the home move-in ready Millennials are adventure seekers. They want to find the next best thing instead of settling for good enough. With all the moving around, they want a home that’s already done. Older generations may have purchased a home in their budget and worked tirelessly to fix it up over the decades. Millennials would rather add to the debt of their student loans so they are comfortable in the present. Millennials love hosting and socializing. One feature that would make the home worthy of buying is a big open space for gathering. Creating an open concept would definitely get more Millennials interested Another important thing to consider would be adding eco-friendly features. Millennials are extremely environmentally friendly and certain low-cost features would certainly draw them in. Community features, such as local public transportation, help, too. It’s important that the home is move-in ready with modern furniture and chic staging by the time Millennials see it.
Be transparent Millennials are very well educated. Only 24 percent of Baby Boomers received a bachelor’s degree compared to 30 percent of Millennials. Technology has also made this generation smarter. Without having to search for hours in the library, Millennials can find any information they need at their fingertips. This being said, Millennials are smart enough to know when you’re hiding something. They will ask a lot of questions and expect honest answers. If the answers aren’t honest, they will do their own research online. If they found that you weren’t transparent, Millennials may take their business elsewhere. Millennials are not a hard generation to sell to, as long as you speak their language. Follow these tips and your life will surely get a bit easier.