The core group of Millennials (less than 35 years old) are the ones most likely to need a place to either lease or purchase. Many of them are beginning to buy their first homes and invest in real estate for the first time. As a real estate agent, marketing to Millennials should be among your top priorities. You must begin building marketing campaigns that are specifically targeted toward this powerful group.
When marketing to Millennials, consider these important points:
- A good percentage of the millennials are likely to use a Real estate agent. But they may be harder to please, compared to other generations.
- Millennial home buyers would hire their agent again or refer them to another.
- Millennials are more into social media than any generation ever. But many of them would also like to be contacted by telephone calls.
- Millennials prefer the internet for communicating and finding real estate opportunities. Many use online websites for home searches.
- Millennials do like their latest gadgets, but still rely on the wisdom of real estate agents.
- Millennials love their technology. They grew up with best possible smart devices. When marketing to Millennials, know that they are more likely to respond to online marketing and communication efforts as opposed to newspaper ads, flyers, and postcards. Be ready to text, email, tweet, Face Time and message too.
- The realtors’ contact information, website etc. should be always up to date. Monitor your online image and provide content that speaks to the clients.
- Evolving with the next generation of clients is the key.
- Make the process convenient for the millennials with latest apps and technology they can really submerse themselves in. They are more comfortable to preview a virtual tour on their mobile device than step out.
- Advising them on credit score and finances is also a knowledgeable part of the process. For instance, a new credit card could put a prospect in danger of not qualifying for a home loan or not getting the best rate possible. The client’s credit score should be good.
The millennials demand instant access to product information, price comparisons, and reviews and are turning to trusted brands that offer high quality, transparency, and convenience at the lowest cost. Millennials may be late bloomers when it comes to home ownership, but they are certainly not absent from the real estate market.