The housing market has seen a huge surge in the way of millennials as they have become the largest group of home buyers now. In 2015, millennials officially took over from baby boomers as the number one group of home buyers. Real estate agents will need to take this demographic shift into consideration when they market homes and work with clients; after all, what once appealed to baby boomers isn’t going to be the same for millennials. Advertising tactics must be reconsidered, and agents need to think at length about what will capture attention for this up-and-coming audience. In order for real estate agents to find success in gaining these new clients, they should take the time to study the trends that are important to millennials. Here, Jason Cohen Pittsburgh considers significant factors that will define millennials in the market.
One of the biggest appeals to millennials comes in the way of technology. As technology continues to grow and develop, it has become an even more vital part of their lives. Millennials are far more interested in social media and texting rather than the baby boomer generation ever was. A real estate agent who utilizes various social media platforms is far more likely to catch the eye of a millennial home buyer rather than one who doesn’t. Marketing properties on social media is a wonderful way to share listings and reach this targeted audience. When a millennial sees the listing on the social media platform they instantly know who to contact regarding the property. It also lets them know that the agent takes their job seriously when it comes to selling the property.
Millennials are a fast-paced generation who generally have very little time to spare for a long marketing spiel. Sales techniques are crucial in capturing their attention because they tend to be very impatient and have a short attention span. It’s important that once the agent is able to draw their attention in that they continue to ask questions regarding the type of property they are interested in purchasing. Once the real estate agent has all of the necessary information, finding the properties that align with their goals is the next step. Showing millennials homes that meet this criteria keeps their interest sparked and allows them to know that the agent is listening to what they are saying and not wasting their time.
While marketing to millennials may prove to be challenging, it is well worth the effort in order to continue successful real estate.