Millennial are sweeping across the nation, and will be for quite some time. Over 50% of millennials say they are either extremely or very likely to buy a house in the next year or two and many will delay their wedding or honeymoon in order to buy a home! Here is a quick guide of what you need to know to win their business.
They Love Digital!
Millennials do a tremendous amount of online research when deciding on an agent. 90% of millennials will use the internet and 80% will use a mobile device and apps to help with the home-buying process. How to market yourself online is crucial so make sure you have a professional website and reviews from previous clients.
They also don't want to waste their time on listings that don't have content. The majority of millennial home buyers want to view listings with high-quality photography before seeing a house in person.
When it comes to millennial sellers, they understand that online appeal is the new curb appeal. Sellers who sold for more than l list price made imagery and home information available across multiple online outlets including listing sites and social media.
Millennials Follow In Their Parents' Footsteps
Not all millennials want a lofty condo downtown near restaurants and shops. Many of them are looking to buy a single-family home in the suburbs and nearly 54% purchase houses in communities with shared amenities.
Millennial Home Buyers Are Loyal
Millennials like consistency and rely heavily on word of mouth when selecting an agent. In fact, 58% of millennial home buyers rely on referrals when deciding which agent to work with. They are also the demographic most likely to provide an online review of you and recommend you to their peers.
Communication Is Key
Although millennials are the digital-generation, texting isn't always the best way to communicate with them. According to an article in "INC" magazine: Face-to-face meetings and conference calls are not as effective with millennials. Reach the younger generation where they already spend most of their time---on their mobile devices. Try an online team portal for collaboration with a mobile app, or get used to Skype.