Selling to Millennial Home Buyers: Point Out These Features

When selling to millennial home buyers, it’s important to think of how they differ from other buyers in today’s market. It’s no surprise what catches the eye of the millennial buyer is quite different from other generations of buyers. While you can’t magically transform your listings into the perfect fits for every demographic, you can absolutely highlight the features that millennial buyers will find most attractive.

Whether it’s in your listing description or your open house presentation, you can catch a millennial’s eye by keeping what they want in a new home in mind. Here are 4 of the biggest things to keep in mind:

Millennials want to remake, not remodel their new home

Selling to Millennial Home Buyers

As the first generation to grow up with massive hours spent watching HGTV, millennials dream of buying their first home and making it their very own. Oh, and thanks to Pinterest, your millennial buyer probably already has about 1,000 design ideas tucked away for their first home canvas.

That being said, the millennial buyer generally wants no part of a massive fixer-upper. For one thing, they just don’t have the time. Secondly, digging in on a major remodel is just an expense most millennials can’t bear after plopping down their savings for the downpayment.

Kitchens and bathrooms, for instance, cost a pretty penny to upgrade so millennial buyers will appreciate newer bathrooms and kitchens and shy away from ones that look like Grandma Estelle hasn’t remodeled since the Johnson administration.

TIP FOR AGENTS SELLING TO MILLENNIAL HOME BUYERS:
Highlight the opportunities, downplay the downsides. In your listings and open houses, point out houses with neutral colors as “ready for your splash of color.” Show little things around the house that could be updated at a reasonably low cost such as outlet covers, door knobs, and lighting fixtures. If your listing does have that, uh, “vintage,” kitchen or bathroom, remind them they can remodel slowly over time and get good returns when they sell.

Location is everything for a millennial

Selling to Millennial Home Buyers

While we assume millennials are more “urban” than their parents, research actually shows that they too tend to buy in the suburbs more than in the city. (For a lot of the same reasons)

Regardless of whether your listing is in the city or out in the burbs, you can still position it to appeal to the right millennial buyer.

For most millennial buyers, their first home’s location may be a compromise as they can’t quite afford the neighborhood they *thought* they wanted. That being said, location still means a lot.

TIP FOR AGENTS SELLING TO MILLENNIAL HOME BUYERS:
Be prepared to impress at open houses with plenty of information about the area. How long is the commute to downtown? What are the mass transit options and times? How far are they from their favorite restaurants or the schools? Want to really impress? Have a map (both electronically and in print) with the house location marked and distances drawn to everything from the grocery store to the local pub.

Millennial buyers want tech-savvy homes

Selling to Millennial Home Buyers

No surprise here, right? The smartphone generation doesn’t want a “dumb” house anymore. Obviously, if your listing features outlets with USB ports, smart thermostats, and smartphone-compatible appliances, it’s pretty easy to grab their attention.

TIP FOR AGENTS SELLING TO MILLENNIAL HOME BUYERS:
But, what if your listing is a little on the old fashioned side? Offer a free tech “upgrade” to any buyer. Several of these tech upgrades can be done for a pretty low price, and depending on the list price, it may just be worth it to throw in something like a new smartphone-compatible door lock.

Oh, and check the cell signal of your listing. If it has a good, strong signal in the whole house, point it out. Sounds odd, but a cinder-block house with no cell service is like prison to a millennial.

Millennials want some space

Selling to Millennial Home Buyers

For the past several years, millennial buyers have probably been living at home, in a dorm, or a small apartment. Their laundry has typically been in a basement (and coin operated) and closets & garages were almost non-existent.

TIP FOR AGENTS SELLING TO MILLENNIAL HOME BUYERS:
Pretty obvious here… Play up every nook and cranny of storage, and if the house has a great laundry room, remind them how much better that is than their creepy apartment complex basement.

Of course, these are just a few of the preferences of the millennial buyer, but hopefully we got you thinking a little more like these younger buyers.