Here are 5 unique tips to find success in selling to the millennial home buyer:
- Help them each step of the way: 90% of home buyers aged 37 and younger worked with a real estate agent, and many of them cited that they wanted help understanding the home buying process. Understand that guidance is extremely important to this consumer segment, and take advantage by marketing your emphasis on assisting clients.
- Know that price matters: A majority of millennials use their savings to pay their down payment, more so than other generations, signaling limitations in financial options. Help these buyers by suggesting how to save money or use their funds in the most impactful way during the home buying process.
- Pay attention to visual representation: Visually-based social media platforms such as Instagram and Pinterest are popular amongst young home buyers. In addition, many of them cite staging as an important factor in filtering through properties online. Do not hesitate to market your property in a visually-compelling manner, such as through Instagram or Pinterest.
- Specify your competitive advantage: Millennials know that each real estate agent has something unique to offer, so be ready to stand out from a group of candidates by clearly specifying what you have to provide to them.
- Go digital: Is should go without saying that the best way to appeal to this generation of digital natives is through digital marketing. 93% of home buyers aged 37 and younger use the internet for their home buying process.
There are a variety of trends associated with the millennial home buyer, and as a seller or real estate professional, it is important to keep up with the latest statistics and information. Each generation has unique tastes and preferences, and furthermore, there are divergences within each home buyer segment. Those who make an effort to keep up with these preferences, and take the extra step to understand why consumers have these preferences, are best able to serve these home buyers’ needs.
About Danielle Verboski