It has been predicted that in 2020, millennials (ages 30–39) will make up more than 50% of all new mortgages. What does this mean for real estate marketing in the next twelve months? How should millennials be marketed to differently?
How is selling to millennials different than selling to baby boomers?
Millennials are highly connected and comfortable with technology. The vast majority of them are going to search online for apartments for sale first…before they contact a realtor.
With the ubiquity of mobile technology, real estate buyers are savvier than ever before. In the palm of their hands, they hold the ability to research property values, amenities and trends.
They also want different things. Millennials expect to have access to high speed internet and the conveniences they are accustomed to, such as home delivery for groceries, public transportation and limitless take-out options.
Here are some of the things your millennial buyer will want to know:
1. Location: What is the neighborhood like? Talk to them about entertainment, eateries, access to nightlife and other amenities.
2. Quality of Life: How close is it to work? Public transportation? Any public parks, museums, or other green spaces?
3. Amenities: Highlight the cool stuff. Does the apartment have access to a fitness center, indoor pool, shared green space, community garden, etc.? These are important differentiators for your buyers.
4. The “Boring” Stuff: Is this apartment a good investment? Is the price point competitive with similar listings in that neighborhood?
Understanding how to sell to millennials requires you to understand what is important to their generation. These are not baby boomers. Millennials have grown up with different values and speak a different language.
By showing that you understand what is important to them, you can help them to find the home they have always dreamed of.