In the past year you’ve probably heard a lot about “Millennials,” especially if you aren’t one yourself. Moreover, you’ve probably heard a lot about their impact on the housing market and how you should address them in your real estate marketing. But hot topics in the real estate industry come and go: Is this a trend you should care about? After all, opinions are still split about whether Millennials will be a boon or bust for the housing market.
Millennials, like baby boomers or Gen X, don’t have a single definition, but they are typically considered to be people born between 1980 and the late 1990s. Like the generations before them, Millennials have come to be defined by the unique experiences they’ve had, behaviors they share, and values they hold. They came of age during the Great Recession, are addicted to technology, and are less materialistic than their elders — the list of things that supposedly make Millennials special goes on and on.
The question for real estate agents is which of these traits matter when marketing and selling to Millennials, and how they should be addressed. If you want to make your business Millennial-friendly or wonder whether you need to even bother, here’s some tips on getting started.