Marketing to Millennials: The Key to Attracting New Age Homebuyers
In 2019, Millennials make up the largest pool of buyers currently in the real estate market. This shouldn’t be hard to believe, since their parents, the Baby Boomers, were the largest generation the country had ever seen. Since these ‘millennials’ as they’re affectionately called, are now between the ages of 18-34 years old, they’re now beginning to buy their first homes and invest in real estate. Because of this, marketing to millennials should be among your top priorities!
So how can homeowners attract more millennials into purchasing their home? Here are our top tips to attract these tech-savvy social echo-boomers:
- SOCIAL MEDIA IS A MUST.
Millennials are a particularly social generation, And marketing on social networks such as Facebook, Twitter, and Instagram is a great way to appeal to millennial homebuyers. Instagram is such a casual, fun, and engaging way to connect with other people, and it’s relatively easy - all you have to do is snap a pic or two throughout your day, add a description along with a few hashtags, and share.
- STAGING MATTERS.
Staging your home with products that millennial buyers can afford, such as from places like Target, World Market or Home Goods, creates an atmosphere in which they can better visualize themselves. Think simple and affordable.
- SMART HOMES ARE SMART.
It’s smart to utilize…well, smart technology with millennials, as they are high tech connoisseurs. This powerful group of buyers leads tech-heavy lifestyles, so it is important to make them feel at home with home automated features. To these next-generation homebuyers, technology is not just a luxury, but it’s a necessity. Consider installing a few home automations that can be linked to your smartphone. Your home needs to be technologically friendly in order to appeal to these buyers.
Here are a few home automation features to consider:
- Programmable thermostats
- Doorbell cameras that can be viewed from a mobile device. Ring is a great option.
- Smart light switches
- Alarm systems
- Garage door openers
- MOBILE-FRIENDLY SITES ATTRACT.
Anyone observing members of this young generation of buyers will likely see them surfing the web on their devices. Mobile sites and apps are what many young homebuyers are turning to so they can browse listings straight from their smartphone or tablet, to receive instant information at their fingertips and virtual communication. Find reputable online sites to list your home on that are easily viewable on mobile devices. Providing millennials with the ability to check out your listing at any time of the day, and from anywhere, is a game-changer. These digital natives are more likely to respond to online marketing and communication than to desktop computers or calling about a home.
- TEXTING COMMUNICATION 😆: icymi…in case you missed it.
Millennials are more into texting than any other generation EVER. This is Generation Y’s preferred method of communicating, allowing them to respond at their leisure. Text messages are instant and mobile. If you want to get these young buyers to respond, texting is the way to go. Acronyms, abbreviations and emojis are commonplace and the typical millennials favorite language, 😉!
“Hey! The 🏠 has energy saving appliances, smart light fixtures and thermostats programmable with a smartphone, as well as newly installed solar panels 😃! CIO on the link I just texted you and LMK what you think! TTYS” Remember, even though it’s important to be able to decode millennial, and it’s okay to match their tone, you’re still conducting yourself as a trusted homeowner so you may want to make sure you let them text first.
To learn how to decode more millennial acronyms, read: Do You Speak Millennial? A Modern Acronym Guide by Brooks Wallace
- GO GREEN.
Millennials are a green generation and are willing to pay extra for sustainable offerings. These loyal environmental stewards support how we treat Mother Earth and protecting the planet is a cause that matters to them. Eco-friendly home features go a long way for these advocates. Here are a few environmentally friendly home features to consider including when selling a home targeting millennials:
- Solar Panels and any other active use of solar energy
- Energy Star Appliances
- High Efficiency, Water Conserving Appliances
- Energy-Efficient Air Conditioning
- Energy Efficient Lighting such as LED lights
With these twenty and thirty-something buyers, failing to market to the millennial generation could cause adverse impacts to selling your home quickly. It’s imperative you understand this significant home buyer group and the different marketing approaches needed to captivate this powerful group of up and coming home buyers!