Since 2016, millennials have officially become the largest living generation. They’re also coming of age which means that if they are going to buy, now is the time to capitalise on it. But how do you sell to a generation that has hardly dropped more than a hint on home ownership?
What you need is a better understanding of the millennial generation in order to market your properties better to them:
- Speak Their Language
According to the Pew Research Centre:
- 82% of online adults ages 18-29 use Facebook
- 67% of online adults under 50 use Twitter
- 55% of online adults ages 18-29 use Instagram
This means you have to start using technology to sell to this age group. Social media is a great way to promote home ownership and specific properties. It gives you the opportunity to connect and engage with them and it’s a fast and effective way to reach them too, so don’t pass this up!
- Respond Efficiently and Effectively
Technology has given millennials the option of instant gratification – if they want something, they literally have it at their fingertips! This means you have to be quick and efficient with your responses and feedback.
You should also be willing to communicate with them using any method they prefer. Ask them early on what their method of communication is, then embrace it fully. This will differentiate you from your competitors, attract more millennial buyers and sell more properties.
- Listen to Their Needs and Wants
Millennials may be reluctant to buy a home now but that doesn’t mean they don’t want to buy. Pay attention to their needs. Arm yourself with knowledge of all things local, from the coolest music venues and nearby restaurants, to the best bike trails and the favourite breweries.
Understanding their needs can help you win their trust, and it will paint a good picture of the community they would enjoy if they bought the property you’re selling!
Times are changing and in the housing market, the biggest change is the clientele. In order to pull with the punches and come out on top, learn how to speak to millennials in a way that they understand. As more come of age, you’ll already have what it takes to sell your property for the best price and be more successful in other real estate endeavours.
