According to research from the National Association of Realtors® (NAR), Millennials make up 37% of the buyers currently in the market, making them the largest generational group searching for homes. NAR reports that 26% of millennials indicate they are looking to buy in the next 12 months.
Here are tips for working with and reaching millennials:
Be Honest & Real
Millennials desire transparency and value relationships - two qualities that successful Realtors® cultivate. You can demonstrate this as you guide your clients through each step of the home buying process. Be honest, be real, and don’t forget to be yourself.
One Size Does Not Fit All
Millennials encompass a large age range – from mid-career professionals in their 40s to those just starting out in their early 20s. Some are searching for their first home, while others are looking for their second or third! Although the image of a latte-quaffing urban hipster is a well-worn millennial stereotype, it doesn’t represent the broad diversity of this large demographic. While it’s true that some will want a home in the city close to bike trails and transit, others will opt for extra space amidst the green lawns of suburbia. Either way you must understand and respect your clients’ preferences and never assume anything based on their millennial status. Regardless of your client’s age, it’s important to treat each person as a unique individual and cater to their needs.
Double Tap on Social Media
Although millennials are famously plugged in to social media, they aren’t the only ones fixated on their smartphones. Gen X, Boomers, and even the Silent Generation rely on their devices for information, so it’s vital to keep your social media current with correct contact information, a link to your website, and good headshot. Audiences will definitely check your social feeds to better understand you and what kind of Realtor® you will be.
Here are a few more tips for maintaining a successful presence on social media:
Facebook ads - Facebook ads are an easy way to reach potential clients. And because Facebook ads can also extend to Instagram, you can reach two key audiences.
Videos - Videos are supreme on social media right now, so whether it’s Instagram, TikTok, or YouTube, having regular videos is a must for your digital strategy. But you don’t need to be a professional videographer to make great content. Try making videos about your listings, what it’s like living in your town, or businesses in the area.
Social media influencers - 70% of millennials admit they are influenced by TikTokers and Instagram stars. Try an Instagram takeover or some type of collaboration with an influencer to get the attention of younger audiences.
Think Outside the Box
Looking for other unique ways to reach millennials? Try hosting a virtual social meet-up, guest-starring on a podcast, or sponsoring a community event – like a Bike-To-Work event or a community fun run!