Long gone are the days when the agents held almost exclusive access to the magical MLS. These days, millennial home buyers are searching for their home long before they ever engage the help of a real estate professional.
The good news? They still need the advice and guidance of an expert.
Here’s how you can position yourself as that expert.
Lean on your knowledge and credentials
Your typical millennial home buyer or seller is new to the world of real estate. The internet may help them find the houses they’d like to see, but the process of home buying is still somewhat uncharted territory for most. (Seriously, how many times have you been asked if the buyer pays a commission?) To attract younger home buyers, be their source of knowledge.
We’ve found the mortgage process is especially intimidating to most first time buyers. How much do they need for a downpayment? How does an FHA loan work? What happens at a closing? These are all questions almost anyone new to home buying and selling will have.
Of course, what happens between the offer and the closing is also a bit of a mystery to most millennials.
These are the areas where you become the wise sage – the sherpa of real estate.
Don’t wait for the person to be your client before you’re presenting yourself as the sage. Whether it be hard collateral like postcards or newsletters or email blasts, you should develop quick, easy guides to share with potential millennial clients.
Be on the cutting edge of technology
Chances are, a millennial has spent hours and hours combing the net, looking at houses and tracking prices, before they ever make their first call to you. (Call? Yeah, it’ll be an email.)
What if you had a piece of technology in your back pocket? A piece of technology they’d never seen before? If you’ve established your expertise as we mentioned earlier, this will be the piece that establishes you’re the real estate professional on the cutting edge.
Products like Casamatic can instantly differentiate you from your competitors and attract younger home buyers. Is anyone else in your market helping their clients find homes based on their lifestyle? Imagine turning your client on to a neighborhood they never even considered… Now that’s making yourself indispensable. That’s the kind of service that gets you referrals after the sale.
Market like a millennial
The millennial, more than any prior generation, grew up being pitched with advertisements and marketing efforts. The result? They’ve built a tolerance to traditional advertising.
The way to market to millennial home buyers? Social engagement.
Ditch the bus ad and start throwing parties. How about a progressive wine tasting through several open houses? How about sponsoring local craft markets and beer festivals?
Even better, why not set up a home buying seminar at a local brewery in town? That would certainly attract younger home buyers in the area.
The internet may have forever changed how people initially search for homes, but it just can’t replace the knowledge and experience of a real estate professional. The key is letting the millennials know how you can make their life easier.