Realtors have had a difficult time selling homes to Millennials because, for various reasons, Millennials as a group have not been buying homes until recently. However, that is beginning to change and this generation is now driving the real estate market. Here are six tips for selling homes to Millennial buyers.
1. Go Digital
Millennials are digital natives and will be doing much of their home shopping online. To appeal to Millennials, you must have a heavy digital presence. Have an attractive, informative website, post all listings online and have a presence on social media. Go mobile as well. Millennials will be searching and browsing for a home heavily on their smartphones and will prefer the option of being able to contact you that way.
2. Be A Resource and A Partner
Millennials are a highly-educated group who want someone to guide them through the process of buying a home and answer their questions and concerns honestly. For this reason, they are looking for a real estate agent who will be their partner and resource during the home buying process. Buying a home is often confusing, overwhelming and frustrating for new homebuyers, and if you position yourself as a resource first, Millennials will want to work with you.
3. Appeal To Their Pets
Millennials really, really love their pets – so much so that their pets are a major reason why they buy a home in the first place. Focusing on pet-friendly amenities in or near a home can help you sell it to Millennial homebuyers. For example, you can advertise that there is a dog park nearby or that the home has a fenced-in yard.
4. Focus On Selling The Neighborhood
Feeling like part of a community is important to Millennials. This means that location is even more important to Millennial buyers than it is for other groups. They want to be within walking distance of many regular amenities such as stores, their work and transportation hubs. Sell the community as a place where they can pursue their interests and passions.
5. Make The Home Move-In Ready
Millennials are not as interested in spending the time or the money to update a fixer-upper. Agents and sellers can easily accommodate this by more carefully staging the home and taking care of any major issues before selling. This also means Millennials are less likely to want older homes where problems may be more likely. Staging the home with more modern furniture can help sell older homes.
6. Up Your Response Time
For Millennials, quick responsiveness is important. They see it as a professional courtesy and a given in a world where everyone has a smartphone. Respond to inquiries as soon as you are able. Being more responsive will set you apart from your competitors and get the business of Millennials.
Selling a home to Millennials requires a somewhat different approach than selling a house to previous generations. However, once you have put yourself in their mindset and made some adjustments, the Millennial market presents a unique opportunity for real estate agents and sellers alike.