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Are you actively marketing to millennial home buyers? If not, you’re missing out.
Home buyers 36 years old and younger account for 34% of home buyers; the largest share out of all generations.
This growing group of real estate customers grew up in a digital age, which means their buying process differs drastically from that of older generations.
Traditional marketing tactics don’t always resonate with millennials. That’s why it’s important to adjust your strategy to fit their wants and needs.
The following tips won’t just help you reach millennial home buyers today. They’ll also help you evolve your marketing so you’ll be better positioned for the future of the real estate market.
1. Millennials want help every step of the way
As the youngest generation of home buyers, millennials are fairly new to the world of real estate. In fact, 66% of buyers ages 36 and younger are purchasing a home for the first time.
Because many millennials are new to the home buying process, they need an agent who can coach them through unfamiliar territory. This age group overwhelmingly says that they value an agent who helps them understand the purchase journey.
Because guidance is so important to millennials, your marketing should emphasize your dedication to assisting customers every step of the way. Don’t just promote available properties for sale. Instead, outline how you can help navigate common challenges.
For example:
- Figuring out which homes they can afford.
- Overcoming obstacles to getting their offer accepted.
- Determining which mortgage type is right for them.
Describe the experience of working with you, and highlight any skills you have that can make the complicated home buying process easier.
Because millennial home buyers will initially have many questions, try offering helpful content such as a guide for buying a first home or a checklist of important considerations when searching for properties.
2. To millennials, price is a priority
Millennial home buyers can’t afford to break the bank. Many are first-time buyers without the funds from selling a previous home, and many are still saddled with debt from student loans.
When you take a look at how millennials pay for their down payment, it’s clear that their financial options are more limited than other generations.
How can you tailor your real estate marketing to reach this extremely cost-conscious group?
Share how your expertise can help them save money during their home-buying journey. Small things, like helping with contract negotiations or mortgage lender references, can go a long way with millennial buyers.
Finding the right agent can make a massive monetary difference. With expenses and affordability on the top of millennials’ minds, any marketing that you do around the topic of saving money will certainly resonate with them.
3. Appearance matters to millennials
It’s no secret that millennials are social media fanatics. Many of them frequently check sites like Facebook, Twitter, and Snapchat throughout the day. Visual sites like Instagram and Pinterest are also very popular among millennials who want to find interior design inspiration or drool over the architecture of their ideal dream home.
This attention to appearance is why 41% of young home buyers say that home staging is important. So as an agent, creating an environment that millennials can picture themselves living in is an important part of the buying process.
Catch the eye of millennials with image-heavy marketing. Feature stunning stills of stylish homes, or inviting images of breath-taking views.
Expand your marketing to include highly visual platforms. Promoting your services on Instagram and Pinterest is a great start. Additionally, make sure that any content that you feature on your website or email to leads has a visually-compelling component.
Your marketing material doesn’t need to be restricted to still images, either. Try creating an interactive slide show of each home, or dazzle viewers with a video tour of properties that are new to the market.
4. Millennials want to know how you’re different
Millennials know that not all real estate agents are the same. Out of all the age groups, millennials are the most likely to consider more than one agent. 54% say they will contact or consider multiple agents during their search for a new home.
Distinguishing yourself from other agents is especially important when working with millennial clients. Here’s what you can do to stand out from the crowd:
- Craft an agent bio that gives readers a good sense of who you are, what you stand for and why you’re passionate about helping your clients find a new home.
- Send emails that are less formal and more conversational.
- Introduce yourself with a video so you can establish a stronger personal connection with viewers.
5. Millennials want you to be digital
Marketing your real estate services online is no longer optional. With 93% of buyers 36 years old and younger frequently using the internet during the home buying process, digital marketing is essential for reaching millennials.
Your marketing strategy needs to meet millennial home buyers where they research and browse properties. That’s why SEO (search engine optimization) is so important. Aligning the content in your website to the keywords that millennials use to search for homes in your region will help you pop up in search listings.
Another great way to attract millennials searching for homes is to include the MLS database right on your website. That way, you’ll be perfectly positioned to promote your services to potential leads who can use your website as a valuable search tool for finding their new home.
