Estate Agents Tip: 7 Ways Real Estate Agents Can Market Properties to Millennials
Best Ways to Market to Millennials
You’ve seen all the articles about how Millennials are a generation of renters, but they now make up 1 in 3 home buyers. So, don’t write them off. They may have different wants and needs than their Baby Boomer or Generation X parents, but neglecting this demographic in your marketing would be a mistake. Here are a few tips to help you sell to Millennials.
Unlike the Baby Boomers, Millennials have little interest in fixer uppers or properties that need painting or expensive, labor-intensive upgrades. When selling to this age group, make sure your client puts in the time and money to make the house ready to enjoy as soon as buyers get the keys. If you skip this step, prospective buyers will just move on to homes that are ready to go.
Older buyers remember driving around looking for “For Sale” signs, or scanning the local newspapers and those real estate magazines you find in the grocery store. But these days, everyone, including Millennials, begins their search online. Listing a house for sale on all the online sites, like Zillow or HomeFinder, is standard now. But you have to go beyond the MLS. To attract younger buyers, include social media advertising, drone photography and video, and virtual tours.
Lots of Visuals
While you’re at it, spend the time and money to get beautiful professional listing photos. Like anything else that you can buy using technology, the savviest customers are going to want lots of pictures.
Emphasize Open Layouts
Millennials are social creatures. An open concept home tends to appeal to them a lot more than a closed-off house. If there’s room in the budget to open things up a bit, do it. Talk to clients about knocking down some walls, or adding a deck that’s great for parties. Help buyers visualize what it will be like to entertain their friends in the house.
Millennials are generally looking for homes with a good walking score. If a property isn’t within walking distance to a downtown, shopping area, or a mixed-use area, definitely talk to your clients about strategies to make up for it. Play up other location benefits like parks, trails, views, quiet areas, and neighborhood amenities.
Don’t Forget Technology
Smart homes are all the rage now. If there’s budget for it, suggest a few green and high-tech upgrades and be sure to emphasize them in the marketing materials. If the home isn’t already equipped with wi-fi and high bandwidth internet of some sort, talk to your sellers and get it set up as soon as possible. Millennials have a hard time picturing living in a home without connectivity for even a short period of time. Make that worry disappear and move them in the direction of making an offer.
Don’t Try to Fool Them
Finally, always remember that this generation is better educated, on the whole, than the Baby Boomers and Generation X. You might feel like you’re being cross-examined while they are asking questions about the property. Just remember that they can quickly fact check everything you say. Don’t try to sneak one past them; 9 times out of 10, you’re going to get caught.
Things are different than they were a generation ago, so agents need to adapt with the times. Keep these things in mind when you’re marketing real estate to Millennials, and you’ll have young buyers knocking on your door in no time. Enroll in real estate pre-license training to learn all about this and other topics in more detail.
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