The marketing world has well established that Millennials shop differently than previous generations. According to a study by the National Association of Realtors, millennials are highly likely to utilize the services of a real estate agent – but they want one who speaks to their specific needs.
It starts online
For those 35 and below, your online presence is an essential part of your marketing. They are researching, shopping and discussing their home search online. Your listings (and you!) need to be accessible to online shoppers. In particular, your online channels needs to be mobile friendly as people are increasingly doing their online web consumption on their mobile devices – phones and tablets. As part of that online experience, millennial home shoppers expect you to have a comprehensive online presence as part of establishing your credibility and professionalism. A functional website, an engaged social media presence (like a branded Facebook page), and multiple methods to contact you with 24 hour response time are all components of connecting with millennials online.
Most of us have a preferred method for communicating – over the phone, in person, via email. Even the most outgoing millennial might prefer to text over talking on the phone. In a Pew Research Center study, 31% of respondents said they preferred texts to talking on the phone. Are you prepared to handle client communications in the way that they are most comfortable with?
The tech fluency of your millennial client means that they are exceptionally comfortable self-educating and seeking information from their peers online instead of industry experts as part of the home buying process. Likely, before they ever approach you they will have begun the process of establishing what they want, where they want to live and what the process will look like. They need you to bridge the gap between their learning and the reality of home buying while still respecting their already-done research. One additional side effect of such knowledgeable consumers is their need to be sure you are keeping them in the loop. That communication flexibility is vital so that you can stay in regular contact with your millennial clients.
For the millennial, social media is more than cat videos (although they’re awesome!) and oddball quizzes. It is an essential component to how they get feedback from their circle of influence. If you can connect with them on social media, you have the opportunity to become a trusted resource on all things real estate. First, you need a Facebook business page as part of establishing professional credibility. On your page you can share resources, tips and tools to help current and potential clients – building trust as you do!
How are you structuring your advertising to attract and retain millennial clients?