How to Target Millennial Home Buyers
Millennial Home Buyers
As a real estate agent, it’s tough to convince people to buy houses and property, more so when it comes to millennial home buyers who are quite picky compared to their predecessors. Here are the essentials to get inside a millenial’s head and make a deal that is mutually beneficial.
Go digital or go home!
If you have been keeping up with the times, chances are you would have gotten the memo on how the new generation works. Due to a fast pace life style, more and more millennials have become used to having all the information right at their fingertips. So if you don’t have a strong online presence, chances are that you might be missing out on that one third of the potential house buying demographic. They don’t read the newspaper much anymore and all of their news comes in digital format. Their phones, tablets and laptops have taken over, so all there is going to be are taps and clicks instead of rustling of paper. Invest in making a good website with all its SEO functionalities, market yourself online and the most important off all, and drum rolls please… Make an app! Adding a mobile friendly touch to your real estate business will work wonders for you. After this brilliant move I suggest you hire a social media marketer to get your content out there because 71% of the millenials hang out on the social media scene.
Understand their “Millennial” needs
As with any customer, you assess your client’s needs first rather than shoving down all the available options down their alley. Millennials are no different, they might be young but they are not clueless as to what they want in life and this includes a house. You have to first help them navigate their way in to the housing market and let them tell you what they want. Remember, this is a generation which focuses more on passion and dreams rather than just a stable job and income. So don’t be too surprised if they can’t afford high priced properties due to student loans, less experience in the workforce etc. Prove it to them that you will get them the best possible deal which matches their interests and affordability.
Keep it green and clean
The new generation is more environmentally aware than ever. They know what carbon imprinting is and are heavily involved in green activism of some sort or the other. Even if some of them aren’t, adding the eco friendly factor is definitely going to gel with them well. Tell them that the house is eco friendly; provide them with details such as how to add solar panels to their homes to reduce their electricity bills etc. Not all millennials are tree hugging hipsters but they will usually choose the eco friendly house over others if all other variables remain the same or as they say in economics, ceteris parabis.
Make it modern and up to date
Unless they have grown up with their grandparents all their lives, chances are they don’t really want a vintage looking home. Heck if they would, they would rather just inherit their grandparent’s homes rather than buy old property. Show them houses which have a sleek and modern look with contemporary interiors. Houses which have media rooms, tile or hardwood flooring and open floor plans are mostly desired by them. Adding safety features such as window sensors, security cameras etc will also give an edge to the modern house experience.