Home buyers are getting younger. Is your marketing strategy ready to meet the needs of millennial real estate buyers?
Consider this: more than a third of all home buyers came of age in the digital age. That’s right—millennials, those aged 36 and younger, now make up 34% of home buyers, which is the largest chunk of any generation buying homes right now.
These digital natives have a buying process that’s completely foreign to older generations, which means “traditional” marketing tactics won’t cut it when it comes to appealing to this demographic. Adjusting your strategy to resonate with millennials makes sense not just because it helps you reach this segment of the market, but also because it keeps you better positioned for the future of real estate marketing.
These three tips will help you adjust your strategy to market to millennial real estate buyers.
1) Be ready to guide them through the process
Millennials get a lot of bad press, as a generation that requires constant coddling and hand-holding. But to be fair, these young home-buyers are new to purchasing real estate—the vast majority (66%) of buyers ages 36 and under are first time home-buyers.
Buying a home is a complicated process, and millennials are looking for agents who will take the time to help guide them through the process. What does this mean for your marketing strategy? Placester’s Carolyn Berk suggests that “because guidance is so important to millennials, your marketing should emphasize your dedication to assisting customers every step of the way.”
This means offering resources and strategies rather than simply promoting available properties. For example, an eBook that guides first-time home buyers through the process is a great way to demonstrate your knowledge and commitment to supporting your clients through the buyer’s journey.
2) Help millennial real estate buyers save money
More than previous generations, millennials are saddled with student loan debt and often rely on sources other than just savings to finance their down payments. Simply put, they are looking to save at every opportunity.
Once again, content is your best bet for demonstrating to millennial real estate buyers that you are there to help them save money. Blog posts, testimonials, and case studies should detail your expertise in getting your clients the best possible deal. “Small things, like helping with contract negotiations or mortgage lender references, can go a long way with millennial buyers,” says Berk.
3) Go digital
This one probably seems obvious, but you’d be surprised at how many real estate professionals neglect their digital marketing presence. From social media to your website, marketing online is no longer optional, it’s expected. Millennial real estate buyers are heavily using the internet during their search and buying process, and your marketing strategy needs to be ready to meet them online.
First off, your SEO (search engine optimization) is key—your content needs to be readily available to potential buyers entering relevant search queries. “Aligning the content in your website to keywords that millennials use to search for homes in your region will help you pop up in search listings,” suggests Berk.
Your social media presence is also important. Millennials are checking Facebook, Twitter, Instagram, and Snapchat frequently throughout the day, and they should be finding your content. Take advantage of these visual media to promote your properties with photo and video content.
Marketing to millennial real estate buyers makes sense for your overall marketing strategy and helps keep your brand relevant and ready to adapt to the future.
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