Most of our readers, that is you, are from Generation X, only a small minority are Baby Boomers, and you have targeted your peers for a long time; but it’s time to expand your market and start interacting with the new property buyers: the Millennial.
This new segment of the population, born in the early 1980s until the early 2000s, is starting to have a strong impact on the economy and it is precisely for this reason that real estate agents belonging to previous generations must learn more about those younger, and therefore understand how to interact with Millennial to expand their market. To succeed in all of this, you need to understand who these new property buyers are and follow our 5 tips.
Understanding new property buyers
The 75% of Millennial is present on social networks and 74% believe that new technologies make life easier, both aspects which we believe our readers agree, as users of innovative startups. Precisely for this reason, it is necessary to incorporate Internet marketing strategies to your offline communication strategies, in order to interact with those who will soon be the new property buyers.
Millennials are much more interested and open to blog content and more likely to trust a brand that is present and active on social media than previous generations. This is due to the fact that they are the first generation that “grows up” online, and therefore has a strong need to obtain information on the web, to compare prices and to read reviews on the services that young people need, including real estate.
This new generation spends most of its time surfing the net and it is on the web that it is looking for a home, so don’t you think it is appropriate to improve the online presence of your agency as much as possible? Unfortunately or fortunately, often the first impression is the one that matters most and considering that Millennials will be looking for a huge amount of information about you, being present on a website or portal that gives you the opportunity to better evaluate the your qualities could be the keystone of your problems.
How to interact with Millennial
As real estate agents, you have many opportunities to increase your business with Millennials, so our advice is to be found where they are looking for you, and to provide a considerable amount of information about the properties, the services available in the various neighbourhoods, the energy efficiency and independence of buildings, to the buying and selling process.
Whether it’s setting up events, meetings or conferences for first-time buyers, creating online content via blogs and websites or joining local organizations, it’s important that you do whatever it takes to interact with new ones. Property buyers to make them understand that even if they are not ready to buy a house now, you are there to help them and you will be there when they are ready to take the purchase path.
So how can you effectively connect with Millennials? Simple: using their love of technology to provide them with the information they are looking for, even before they decide to buy a house. Here are 5 actions to take to better interact with new property buyers.
1) Adapt your website to their needs
Millennials are thirsty for information, they want to be educated about the process before making the final decision. They know about the current situation in the real estate market, how it looks like we could be facing a market recovery, but they usually take sensational news with a grain of salt. So how can you get around this situation? Educate them until they no longer have any doubts or perplexities.
The easiest way to do this is to have your website do all of this for you. Create a page on your website that deals exclusively with first-time homebuyers, including a list of FAQs, useful infographics and links to articles written by you (or, if you don’t have any, even external links), that are real information guides for new buyers.
Include free content about the home buying process that is downloadable after your readers enter their email addresses. This will give you the opportunity to obtain a list of potential customers and at the same time to provide quality information to those who are buying a house for the first time. Provide the information a new property buyer seeks, and you have built the foundation to become their real estate agent.
2) Connect to social media
It’s common for Millennials to connect on social media and share what’s happening in their lives, so what better way to interact with these new property buyers than through social networks? When you connect with a new customer, find out which social network is most important to them (it may not necessarily be Facebook!). The aim is to find out what he talks about during the buying process, what his problems are, and his questions and so on: this will help you solve his needs in advance (for more information on how to use social networks in real estate click here).
3) Activate personalized email campaigns
As we have already said in the article “How to build the newsletter of a real estate agency “, emails are still the main tool to undertake effective marketing activities towards your potential customers. When a potential buyer gives you their email address, send them a personalized email with important advice on the buying and selling process, but don’t just talk about real estate.
There are many ideas and information that are of interest to Millennials, such as information on schools, restaurants, and other local entertainment sites. When looking for a home, the new generations want to know if the area will be suitable for their lifestyle, so show them by providing them with important and interesting information on what could be the most important investment of their life.
4) Define your communication standards
It is important that you define communication standards in advance, before connecting with Millennials. Ask them how they prefer to communicate, whether by phone, email or otherwise, and then let them know what your shifts are. We know that your real estate agents are constantly busy, but a Millennial could send you an email or a message on Facebook even at midnight asking you something about a property.
If you don’t want this to happen, make it clear right away, let them know that if they send you an email or a message after a certain time, you will only reply the next morning. By defining these rules, on the one hand, they will not be bothered by your communication standards, on the other hand, you will not be irritated by messages or emails that arrive late at night.
5) Create webinars
A webinar is a seminar on the web, and as we have already told you, to interact with Millennials effectively you have to be where they are: so why not do it through online seminars for first-time homebuyers? This will give your potential customers first the opportunity to get to know you, secondly, it will help them build their trust in you. Remember that new home buyers want to be educated, and their main teacher is the internet.
Millennials are the current new home buyers helping the real estate market revive. Real estate agents need them to revive the real estate sector, and although it is difficult to interact with them, try to do everything to get to know them better: what are their tastes, what their buying behaviour is and how they prefer to act. The most important thing to do effectively is to keep in mind their love of technology and their need for information. Do it, and you will earn their trust?