The millennial generation can be one of the toughest to sell products to let alone real estate. In 2021, millennials made up about 37% of the homebuying market. So how do you connect with a generation that is reshaping the housing market? Strive to understand them.
Social Media
The best way to grab the attention of the millennial and younger generations is to get on board with social media. This tool is by far the most beneficial to have in your pocket when engaging with current clients and reaching for new ones. Creating short-form videos on platforms such as Tik Tok, Snapchat, Instagram, etc. will help drive interested buyers and renters in your direction.
Enhance Web Presence
If you already know that millennials are constantly browsing the internet and social platforms, then this means you need to also create a web presence. It is crucial to incorporate social media into your website and create a presence that represents you or your brokerage . Most individuals contact multiple agents to see who is the best fit and the first place they’ll check is social. At the end of the day, millennials want to know how you stand out among the rest.
Price Matters
It is no surprise that most millennial home buyers can’t provide all-cash offers for their home purchases. Many are first-time buyers without funds from a previous home or have large sums of debt from student loans.
When you look at how millennials fund their down payment, it’s clear that their financial options are limited compared to other generations.
To help in these situations, share expertise on how to save money during the home-buying journey. Simple things, like contract negotiations or mortgage lender references can go a long way with any buyer.
In summary, if you do decide to target Millennials, you may have to learn some new tricks. Their love of technology means this demographic has different ways for choosing real estate agents.
You may need to accept the fact that calling, or emailing will be the last thing they do in their search for an agent. That contact will only come after they’ve thoroughly checked out your website, social media accounts, and online reviews. If you’ve always relied on having a charming phone presence to seal the deal, you’re already too late to this game.
