Millennials have grown up in a digital world and will expect to use technology and search tools in the home buying process. They are also accustomed to making many of their own purchases online, which can make them more comfortable with self-service than previous generations. This has made it important for real estate agents to create an online presence that appeals to millennials.
Millennials know how to search, but don’t know how to decide, and they need someone who can help them choose.
Property search apps/tools encourage buyers to wander, rather than help them narrow down their choices. On the other hand, real estate agents have been trained to focus buyers on a handful of homes that might be the best fit for them. Millennials don’t have enough experience with buying homes and need help narrowing down the pool of options.
Millennials are the largest group of homebuyers today, but they lack confidence in selecting a house because they haven’t had many experiences doing so. They may also feel overwhelmed by all the information available on websites like Zillow and Trulia, which makes it difficult for them to find homes they love at prices they can afford.
Don’t send links, provide guidance.
Millennials are mobile-first. They expect to be able to do everything on their phones, and they’re used to getting information on the go. If you want to be a millennial buyer’s agent, think about how you can make your guidance accessible from anywhere. That might mean providing video tours so that buyers can see the inside of homes without having to schedule an appointment with a realtor in person (or even better—before it even hits the market!).
Understand these critical differences between millennials versus other generations in order to better market yourself to millennials.
A millennial-friendly focused online presence is vital.
In an era where millennials have grown up with the internet, they expect every online interaction to be guided and focused. They don’t need you to send them a bunch of links. They can find their own using Google. If you’re looking for something specific—like how much a buyer’s agent makes per transaction—you should be able to search for it on Google, as well as on social media such as Facebook or Twitter.
If your website has outdated information about what buyers agents do or what fees are charged, it could even make millennials question whether you’re qualified to help them buy or sell property in the first place!
Don’t ignore millennials’ insistence to use technology.
While technology is a generational thing, millennials are used to using technology to get things done. They expect and want an online advisor that provides consistent feedback, rather than just showing up when they are available.
Millennials also want access to their real estate agent 24/7. They want property guidance sent directly to them as soon as they are available, not left on someone’s desk for review later on in the day or week.
Understand the importance of video based guidance during the search process.
Video is the future of the real estate.
We are often told that video is the next best thing to an in-person tour. It helps buyers remember the homes they visited, and thanks to technology, it allows them to re-watch those visits whenever they want. If a buyer wants more guidance from their agent, video can provide that too! And if there’s something about a particular property that doesn’t make sense? Video can help make the first time home buying process more efficient by allowing agents to address any concerns or answer questions quickly and efficiently without having to take time away from other clients or business activities.
The video should be part of every real estate agent’s toolkit because it provides value both during and after your client’s search process is complete.
While the millennial generation is known for being savvy, they need guidance. They need someone to help them choose a home that will meet their needs and budgets. You can help millennials by understanding what they want and providing it in an easy-to-use format. If you do this, you’ll build trust with your clients and gain business for years to come!