Some people describe millennials as progressive, social media-obsessed, and somewhat shallow. Others assume millennials are still clinging to their parents for financial support and cannot afford lofty financial investments (News Day, 2020). While it may come as a surprise, millennials make up the largest group of 30-39-year-olds in the history of the US to make the most significant financial decision of their lives – purchase a home (NAR, 2020).
For context, millennials were born between 1980 and 1998, making them roughly 22 to 39 years old. It’s easy to assume that older millennials are buying homes, but in reality, younger millennials are slowly infiltrating the housing market! Although younger millennials only made up 13 percent of total homebuyers (NAR, 2020), 38 percent of older and younger millennials purchased a home, and that number continues to grow. This is why real estate agents should begin developing strategies to reach the millennial market and encourage them to invest in their future by purchasing a home.
Unlike previous generations, the best way to reach the millennial market is through technology. Rather than passing out flyers or putting your name in the classifieds, you’re now able to connect with potential buyers through a simple click of a “follow” button on social media. Not only do they know your name and profession, but they’re also able to get a glimpse of who you are before you even pick up the phone. More and more millennials are turning towards social media for trustworthy recommendations for every aspect of their lives. That’s why the best way to market your services is through the power of social media!
The primary method to optimize your social media towards millennials is by making it personal. Of course, millennials want to see your current listings, but you also need to be relatable. An easy way to appeal towards millennials is through showing them what your average day looks like and the excitement of homeownership for first-time buyers in an aesthetically pleasing way. Another easy way to get their attention is by adding to your Instagram story. Instagram highlights are authentically you without the need of any glitz and glam – making it an easy way to keep your content relevant. Through stories, tell your audience about yourself and why you would be the best real estate agent for their home-buying journey.
Overall, millennials make up the largest generation purchasing homes! If you want to start attracting this audience, keep up with the digital marketing trends. With the real estate market being so competitive, begin to work on marketing towards millennials now so you can stay successful in 2021 and beyond.
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But wait, there's more...
Figuring out if your buyers are serious about buying a home without having your time wasted can be difficult. Here is a list of things you can look out for when vetting buyers!