Millennials are undoubtedly the coming future of real estate. Nevertheless, there’s a new trend that might be your next searing opportunity. Upraised with smartphones and the internet, millennials are a different sort of client. They’re also the largest home buying generation in the U.S.
Millennials need to be enticed. They need to be shown that, despite their student loans, there are enormous reasons for them to put money aside to buy a home instead of renting one. In order to truly connect with millennials, real estate agents need to know what charms them and what does not. Here are a few tips through which agents can win the hearts of possibly the largest buying cohort in the history of United States:
Be Tech Savvy:
We hear everybody saying that it’s a smartphone world, but this statement doesn’t stand true for millennials. Agents can acclimatize to this through making text messages as their primary medium of communication, and making use of email campaigns to become more approachable. Also provide additional content and home listings that show up on every device, ensure the feasibility.
Millennials have the money to buy something invaluable, but they don’t respond well to sale gimmicks or tricky offers. They want to invest in exceptional content and love to be open about what they do. Moreover, they want to invest in the value they create, and where their revenue comes from. So they expect you to be honest about every detail no matter how little it may be, during the deal.
Be prepared to deal with them directly. Millennial generation might be technologically knowledgeable but even now direct email marketing has proven to be amazingly powerful approach to contact them. Talking about the facts, 90% of millennials believe sending advertising emails directly is the most reliable thing to do while 57% have already purchased entirely on direct mail offers. To gain engagement of millennial buyers, you have to be exceptionally unique at your direct mail techniques that don’t smell ordinary and typical. Use tactics that appeal them, humor is one of it.
Millennials tend to use Google to get a lot of information, so you need to be very be very thorough in your research. Also, millennials tend to use video content for learning, so you need to have content there to approach them.
To successfully market to Millennials, you must have a robust presence. You need to be responsive, agile and full of enthusiasm to connect to a millennial client. Most Millennials will immediately move on if they find you non-responsive. Professionalism and functionality are key factors while you are trying to please a millennial buyer.
When dealing with the millennials, show a big deal of courtesy and be insightful, and be genuine and clear on your message which should never be based upon your hidden agendas. If you don’t keep these key points in mind while doing the process, then this will make them lose trust in you and they would take their business elsewhere.
Another characteristic of the Millennials is their need for constant feedback and in particular, praise. They need to be reassured again and again throughout the entire buying process-despite their confident natures and are influenced by reviews and testimonials.
For all their tech savviness and sense of individualism, millennials are insecure in a way that older generations aren’t and are wary of others. Their preoccupation with technology has made them more uncomfortable in face-to-face interactions than previous generations, but they still long for that connectedness. So by being an engaged and empathetic representative to them, you are helping them feel connected while reducing their insecurity and addressing their wariness.
Conversing with millennial home buyers is not an easy thing to do, so understanding them is the only choice you have at your end. Millennials are smart at identifying and obstructing spam and value the ones who promote open-minded conversations and authenticity. Be more honest, and break down the sales pitch. Become acquainted with your potential millennial home buyer on a personal level which will help you to create content that depicts; you know them better than they know themselves.
Patience is the key. Don’t push things too much forward immediately but give adequate amount of time to millennial home buyers to think and get their minds straight. Because, a great deal of courage is required to come up with a decision of this sort. When they have taken the jump and decide to purchase a house, most likely they would rush into buying the home too. Just because they are eager for that and need to get it done as soon as possible doesn’t mean that you need to rush things too. Instead, take your time and invest most of it in carrying out your research, only then you will be able to advise them pick smartly. This will allow you to strengthen your relationship with millennial buyer.
Millennial’s home buying prospects and necessities vary greatly from one to the next. To successfully charm them, it’s crucial to first understand their expectations and their goals. Only by doing that can one tap into this real estate gold mine.