Population of the Millennial generation, those in the 19-35 age range, have been reluctant to becoming home owners. Troubled by high unemployment, student loan debts, and tight credit, Millennials have a different outlook on home ownership and long-term investment than previous generations. However, as the rent keep on going up and the economy continue to recover, there is a shift in the housing market. More and more Millennial are now becoming first time home buyer in 2016.
While some real estate agencies are well equipped to service this new group of buyers, most of the agencies are still struggling to win over businesses for millennial home buyers. Here are the biggest mistakes people make when marketing real estate products or services to Millennials.
A poor digital presence
You will be surprised how many real estate companies think building a digital presence just means having a website! You don’t have to be a social butterfly on all the social media networks (in fact you really shouldn’t do that), but nowadays a website is only a start. So look out for the following
- They will google and yelp you the first thing
- So make sure your website is search engine optimized and you are active on social media promoting your brands and mission.
- They expect you go mobile for them
- If your website is not mobile optimized, then you just showed up at a cocktail party wearing disco pants. So get your website mobile optimized and responsive right away.
- They expect you digital
- I don’t just mean having the document signed digitally (that’s nice). Your marketing communication will be going digital. Thinking youtube video ads, Social media ads, re-targeting ad, these are common methods to engage with millennial home buyers.
You are selling too hard
You already know hard-selling is a turn-off, but millennials really dislike hard-selling. Maybe because they grew up seeing a lot more ads then previous generation.
- You are sending out template bulk emails
- They are great in spotting template messages. While there is nothing wrong to broadcast your industry knowledge via a mass email, but you will just be one of the many many real estate agencies out there. If you truly want to stand out and make a connection, spend the time to customize your emails and send something more personal. They will appreciate your authenticity.
- You are selling and not educating
- Let’s face it, they don’t know what they are doing when it comes to purchasing a home. If you focus on selling, they might be overwhelmed. Instead if you educate them on the process, you might gain a long-term clients.
Now that you know more about real estate marketing with millennial. Feel free to post your feedback or questions to the comment box below. We read all of them!