Selling Real Estate to Millennials: Three Ways to Engage Them
According to a recent report from NAR (National Association of Realtors) Generation Y comprises the largest share of home buyers at 31% of homes sold. And it was just yesterday that these kids were kicking soccer balls around! Generation Y or the ‘Millennial’ generation as they are often referred to, are snapping up homes in record numbers. If you are a Gen Xer or Baby Boomer, learning how to engage this young, tech savvy, attention-challenged generation requires a different set of skills. If you are ready to jump in and learn a few new tricks, this can become a very lucrative and fresh revenue source. Here are three key ways you can engage with millennial home buyers:
1. Give them respect. According to NAR, “They may be young and inexperienced but Gen Y likes to know that their wants and needs are being listened to and valued.” Don’t be deceived by their youth. These are valid home buyers with money to spend. While they may look and act young, don’t treat them like children. They deserve the respect and personalized treatment you would give to older clients.
2. Get plugged into their world. That means a social media presence that is more than just Twitter and Facebook. Get familiar with Pinterest, Instagram, Snapchat and other new apps that are catching on with Gen Y. There are even apps for real estate agents to use to create short ‘commercial’ introductions to your clients. These apps may not all be applicable in all circumstances, but being aware of them and knowing when to use them is an important part of growing a relationship with millennial clients.
3. Give them apps: Real estate marketing consultant, MarketingIdeasforAgents.com suggests that agents provide a list of useful apps to young buyers to keep them attuned to the process and to help guide them along. There are plenty of apps out there for home buyers including Homesnap, My Nest, Crime Mapping and Mortgage Calculator. Better yet, download them on your smartphone and let them see how they work. It speaks volumes about your commitment to serving their needs, in their way.
Millennial home buyers know that you have the expertise to guide them. They will respect your knowledge and experience as long as you respect them and meet them on their playing field.
GLTYR is a mobile multimedia content creation and sharing service for real estate professionals and other small business service providers to quickly engage and build trust with their customers. GLTYR makes it faster, simpler and less expensive to create multimedia ads than what currently exists today.