Millennial are quickly becoming a dominant force in today’s home buyers demographic. This generation is coming of age, making money, and looking to settle down and buy a home of their own. To accomplish their homeownership goals, Millennials need real estate agents who understand not only the market but also how to accommodate their specific wants and needs.
Agents - don’t leave the Millennial generation out of your client pool. Let’s take a deeper look at what Millennials want and how these trends can be applied to your listing marketing strategy.
Millennials love to learn. This generation of go-getters places heavy importance on education, knowledge, and acquiring new skills. Members of the Millennial generation are known to be ‘jack of all trades’, meaning they enjoy being proficient at anything they do.
This yearning for education extends into the home buying process. When approaching unfamiliar territories, Millennials want to know what they’re jumping into. Agents looking to appeal to this group of buyers can greatly benefit from becoming a source of guidance and information - all via the internet.
Millennials are hitting the web to learn. Research shows that Millennials learn more from technology than they do from people, and they view the internet as a source for education. Real estate agents should focus on providing online content for buyers and sellers on their websites and social media channels to catch the eyes of Millennials who are surfing the web to learn more about real estate.
Millennials Crave Feedback
Whether it’s at the office or within their personal relationships, Millennials are looking for feedback - and they want it now. For Millennials, immediate gratification is a must. They want to make sure they’re on the right track to avoid making mistakes and cut back on wasted time.
Real estate agents can appeal to this common need for live communication by creating AI-powered chat boxes on their websites so Millennials can get their questions answered ASAP.
When working with a Millennial client, make yourself available with open channels of communication. Be prepared for calls, texts, and on-the-go questions. Don’t leave them hanging!
Millennials don’t want to be pushed into a box. And, unfortunately, many real estate agents do just that.
They assume that just because Millennials are young and ‘new’ to the real estate game that their only options are starter homes. But, Millennials have their own savvy strategies to skip over that common entry-point into the market. Millennials are waiting to buy their properties so they can go straight to their dream-homes. Instead of buying starter homes, they’re renting until they’re ready to take the next steps.
Talk to them about what it is they’re actually looking for - don’t think you know what they’re after. Real estate agents shouldn’t keep Millennial buyers away from their luxury, high-price point listings.
Millennial buyers are looking for homes that can turn their lifestyle goals into realities. Make your listings stand out by highlighting all of the perks the property has to offer. Whether it’s on-site property features or community focal points, make sure it’s present on your listing.
One creative and tech-savvy way to promote these highly-coveted amenities is with virtual touring. A virtual tour can go beyond words and actually show prospective buyers all that the property has to offer - as if they were physically there.
Use these 4 tips to help Millennial clients find the homes of their dreams. If you’re interested in learning more about how Asteroom’s digital touring services can elevate your services to attract Millennials, visit our website.