Real estate agents who want to exceed their goals know that millennials are the segment of the population that needs their focus. Why? Because they are the generation that is currently buying the most homes.
New real estate agents can set themselves up as the premier millennial agent and rake in fat commissions. It takes some strategic planning and action for this to work. Fortunately, we’ve looked closely at what makes selling to millennials easy and created your ultimate guide to selling high-end properties to this generation of buyers.
Below we outline the key points you must cover to be successful at working with millennials.
Maintain a Strong Online Presence
Millennials live on social media, and their house search will most likely begin there. If you frequently update your profiles on Facebook, Twitter, and Instagram, you’re more likely to attract their attention when they’re ready to buy. Take time to post thoughtful advice for homebuying, along with pictures of the homes you’ve sold and any previous client testimonials. Develop your unique brand of communication, because millennials crave and respond to authenticity.
Selling high-end properties to millennials takes more effort than working with baby boomers or Generation X. Getting back to them in a few hours just isn’t going to cut it. They live in a world where they get the information they need in seconds and will most likely expect that from their real estate agent. If you want to be a house-selling superstar, be ready to answer texts from this generation quickly, and be prepared to respond to them through social media channels. Being approachable, attentive, and helpful when they need assistance is one of the best ways to build your millennial client base.
Let Them Drive
This generation doesn’t want to wait for it to be done for them. They might want to enter their personal information on their tablet at midnight to get pre-approved or schedule a house showing. Give them this option by updating, or encouraging your company to update, your website with self-serve features that entice millennials to take that next step. Don’t assume they will wait until morning to talk with you. They’re likely to move on to an agent who offers these online perks, and you will have lost a sale you didn’t even know about.
Focus on the Properties
Now that you have an idea of what it takes to work with millennials to sell them a home, pinpoint the top amenities that excite them.
Smart, Connected Homes
From appliances to lighting and sound systems, millennials want it all to be a voice-command away. Look for houses on the market that offer these options, and make sure to showcase them during the showing. If two houses are otherwise equal, millennials will most likely opt for a house that is well-connected.
No other generation is more actively involved in caring for the environment than the millennials. Houses with energy-efficient options like appliances, showers, toilets, windows and doors will appeal greatly to them. Tankless water heaters, geothermal heat, and solar panels are also big advantages. Prominently highlight these features on any house you are selling by explaining them on your marketing material, mentioning them on your social media, and talking about them during the showing.
Avoid the Biggest on the Block
Millennials want luxury, green, and connectivity, and they are willing to give up square footage to get them. Instead of huge properties, show them homes with open floor plans and flexible living areas. Point out extra rooms that could be used for their personal hobbies and walk them through all the outdoor space so they can see how they can increase their living area while enjoying the outdoors. High-end kitchens and relaxing, decked-out bathrooms are also high on their list of important amenities.
Location, Location, Location
Long commutes are a drag, and millennials will avoid them if they can. Find out where they work early on in the process and focus your home visits close by. If they can walk to work or ride their bikes, even better. Be sure to point out public transportation options available in the area to help them understand the ease of getting to and from work if they choose that particular home.
Ability to Blend Home and Work Life
A home that offers flexibility for millennials and their lives is key. Is there an area of the kitchen or an extra bedroom they can function as an office for work-from-home days? More people than ever are telecommuting, and a house with no available work space won’t be high on this generation’s purchase list.
Quality Service is Key
Building a strong business in real estate takes patience and tenacity, and marketing to millennials is different than working with any other generation. By cultivating your social media presence, being available, and letting them drive some of their experience, you can increase your millennial business and sell them high-end properties that they will love. At The Real Estate Firm, we are dedicated to delivering the highest level of personal attention to each client. We have the listings that millennials are looking for and the agents to place them in the homes that they want.