How Real Estate Agents Can Reach Millennials
May 12, 2018
President, Arizona Journal of Real Estate & Business
1. WHO ARE MILLENNIALS?
We already know millennials are more tech-savvy than their parents. In their formative years, they’ve witnessed the Great Recession, 9/11, and ongoing political conflict. Because of this, millennials are generally more interested in social causes, living a healthy lifestyle, and saving money.
As a generation emotionally and financially affected by the recent recession, millennials have had to delay making important life decisions. They are budget conscious, and their purchase decision-making process is complex — based on comparative research and online reviewing.
According to the 2017 National Association of REALTORS® Home Buyer and Seller Generational Trends report, millennials represent approximately 34 percent of the largest home-buyer group for the last four years. Real estate professionals must tailor their marketing messaging and channels to reach this generation of buyers.
2. THEY SHOP ONLINE AND ESPECIALLY ON MOBILE DEVICES
According to Nielsen, millennials rely on their phones for information more than any previous generation. For millennials, smartphones are not only a means of communication, but a tool to research deals on products and local business reviews. Mobile marketing is imperative, given that around 97 percent of millennials in the U.S. own smartphones.
Social media apps captivate millennial audiences. Share videos of tours and open houses on your Facebook, Instagram, and YouTube channels. If millennials really connect with your message, they might even share your content with their friends.
3. EMBRACE SOCIAL MEDIA TRANSPARENCY
Use social media to connect with millennials on a personal level, but don’t disinterest them with self-promotion. Tell them about your family, what you do in your free time. They are looking to connect with you as a person, and they anticipate customized and attentive service.
Through pictures and videos, show them the neighborhood, restaurants, local stores, and schools. Respond to questions posed on social media as soon as possible.
Videos are a great way to capture the millennial attention span. Use Facebook, Twitter, Instagram, or YouTube to live stream an open house. Use and repurpose content like this to engage with future buyers.
4. CREATE INTERACTIVE CONTENT TO ESTABLISH CREDIBILITY
Since millennials value customer reviews as part of the buying process, most rely on their friends as a credible source of product information. You can find success by connecting with these customers and creating brand ambassadors. These happy customers will share their story with friends and recommend you to them.
Utilize email to share updates, new listings, and maybe even a digital newsletter. But beware: millennials have an eye for canned messages and spammy-looking emails. They will be deterred if your offering doesn’t involve personal flair. Try using their first name and customized talking points to start the email. This shows them you know what they’re looking for.
As millennials grow into adulthood, aim to be their go-to person for all home buying and selling questions. It is imperative that you position yourself as a resource first; there will be time to be a salesperson later.