Millennials make up 34% of all homebuyers, and 66% plan to purchase a new home in the next five years. That’s a significant segment of the real estate market that you don’t want to overlook! As you’re likely aware, the millennial generation has distinct shopping and buying behaviors, communication preferences and expectations that should be considered when marketing to them.
We’ve explored topics around what real estate agents can do to connect with millennials in previous blog posts and thought we’d share a quick snapshot of top tips to guide you when marketing to millennials:
Communicate the way they want to communicate
Millennials do love and rely on technology. However, this doesn’t mean you need to completely shy away from reaching out with a phone call. Just like with any client or prospect, ask them what method of communication they prefer. Or simply follow their lead. If your contact texts or emails you, feel free to text or email them. If they tend to call you, follow their lead and call.
When it comes to purchase decisions, millennials spend a lot of time online. That time is mostly spent researching on mobile devices. Make sure you’re creating a professional digital first-impression by having a mobile-friendly agent website. Prospective millennial clients will expect nothing less than a seamless website experience on their phones, so having a website that isn’t optimized for mobile can cause a loss of credibility – and sales opportunities.
Build out your online presence
Because millennials spend so much time online, they rely on technology to conduct their research and to validate it. They value brands, products and people with online credibility—particularly, those that are reviewed and endorsed by their friends and their peer group. In fact, two-thirds of millennials say that their peers’ social posts are likely to influence their purchase decisions.
- Ensure you’re present and have a business profile on Google and Facebook, where you can get reviews and endorsements (and your prospects can view them).
- Add testimonials from younger clients to your website.
- Don’t be afraid to ask your clients for a review; millennials like to share online!
Furthermore, if you’re actively pursuing the millennial market, you should build up your social media presence, as millennials spend more than six hours per week on social media. Consider creating profiles on the major channels with content that suits those channels. For instance, an Instagram profile is a great way to use photos to showcase properties you’ve staged and sold.
But remember, don’t overextend yourself; a social media profile that appears abandoned can harm your online credibility as much as not having one at all. This is where IXACT Contact’s Social Stream can help.
Be supportive and helpful
Just because millennials like to do a lot of research independently doesn’t mean they don’t want professional advice. When it comes to understanding the purchase process of buying a home, 74% of millennials want help. Take the opportunity to be there for them.
Publishing helpful digital content for prospective millennial clients shows off your expertise, builds your professional brand and makes you a trustworthy option. You can immediately establish credibility and build trust by having a real estate blog on your website.
Approach home-buying from their point of view
Millennials are unique because they consider experiences more important than “things,” which can factor into their opinions on real estate. They may not be as interested in buying a home as a symbol of status or wealth. When you understand the millennial point of view, you can better connect with them and approach real estate buying and selling from an angle that aligns with their views and beliefs.
For example, emphasize how an investment in a home is more financially-savvy than paying rent over the long term and, if done right, will allow the millennial to have more experiences like traveling, going to events and making memories with friends and family.
Use a genuine personal touch
Along the same lines, remember that millennials are used to an on-demand world, where experiences and interactions are catered to their needs. Take the time to learn about your clients; not just their preferred buying locations and budget, but who they are, what they like, and how they interact with the world. This in turn will help you deliver a positive, personalized experience.
For example, do they want a modern, tech-connected home on the cutting edge? Or are they more interested in a homey, traditional feel? Are they socially active, the type of people that will want a large dining room; or are they homebodies who need a comfortable TV setup?
Learning the answers to these types of questions will help you share the right properties with your clients, and make their experience with you a memorable one; one that your clients will share with their friends online.
As with real estate contacts of any demographic, the more you learn about them and keep in touch with relevant messaging, the more likely they are to come to you when they’re ready to buy or sell a home. A real estate CRM can help you keep track of and keep in touch with all your contacts. See for yourself by taking advantage of your FREE 5 week trial of IXACT Contact now.