Tips for Real Estate Marketing to Millennial Home Buyers
Millennials aged between 24-36 years, currently the largest generation, take the bigger cake in the entire housing market.
Many millennials are first-time home buyers and traditional marketing strategies don’t always resonate with them.
They are also among the top first-time homebuyers. Their buying process differs immensely from that of older generations, and they come with a different set of considerations like student loans.
Millennials, being tech-savvy, rely heavily on social media interactions among friends as opposed to brand advertising.
Heavily influenced by word-of-mouth endorsements, you want to take advantage of this as a Real Estate Marketer. The Real estate CRM tool is a system that helps manage relationships between buyers, sellers, agents, brokers, developers, and financial institutions and caters to the multiple requirements of real estate agents and real estate firms.
Millennials generally prefer to access information online, from the comfort of wherever they may be, and in the current Covid-19 crisis restrictions, online information is becoming more popular for generations beyond.
For most millennials, their parents are just about retiring and are willing to help finance their first home purchase.
And also, Availing a 3D house tour online will make it possible for your potential millennial client to share the house-hunting experience with family.
And, as friends’ opinion is of much importance to this generation, they get to tour the house with their friends too through online links.
Provide Support Beyond Marketing Your Property
Millennials generally want assistance with everything. They are anxious about this process and the more stability you offer, the more reason they will want to partner with you.
Readily have information that will guide them to make this first-time home purchase less complicated.
Guidance on mortgage lender references, affordability options, additional costs required; you’ll want to be knowledgeable enough to emphasize your dedication to assist.
Millennials Crave Walkability
Millennials are a generation that enjoys convenience on a whole new level and love to surround themselves with friends.
Proximity to shopping malls and coffee shops is a plus in their potential home neighborhood. Understand their values and what would stir up their emotions.
This will help you better determine what properties to market.
Price Is A Priority
With student loans to service, millennials are more price-conscious than any other generation. Any marketing you do that has an emphasis on saving money will certainly resonate with them.
Be curiously engaged with your potential millennial buyer and identify if they have saved enough for the required down-payment.
And also, Don’t wait until the last minute to disappoint when, after identifying a house they would like to purchase. And to get a rude shock to realize the down-payment isn’t close to what they had anticipated.
Understand their financial needs before swarming them with options that are likely beyond their reach.
Digital Marketing is Essential
Millennials are a generation that spends a huge amount of time browsing through videos online; it is their second nature.
Align your marketing strategy to pop up in online searches by ensuring the keywords are optimal to SEO’s (search engine optimization).
Ensure your website has all the ideal information they are looking for to make their search a pleasant, not daunting, experience.
To stir up a call about your business, make it easy for them to have their queries answered on a chat forum when browsing your website and ensure your responses are timely.
Remember that this generation thrives on word-of-mouth marketing. And if you create a wrong first impression, you are setting yourself up for instant failure.
Millennials are very keen on appearances and this is evident on social media handles like Instagram and Pinterest.
Stylish homes that make it easy for millennials to picture themselves in that space would make an easier sell.
And also, Inviting images and breathtaking scenery is bound to get them emotionally attached to a property and want to live in it.
In summary, when cheif marketing officer write for usproperties, advise the millennial that property value is a vital part of the purchasing process as they may, in the future, want to sell the house.
The depreciation of the neighborhood and property type will play a massive role in determining future resale pricing.
As a guideline, encourage them to check out house valuation options to give them a better feel of the property’s value and help them make an informed decision before buying their first home.