Millennial’s are going to be the largest generation of buyers and sellers over the next 60 months, more than any other generation. At least that’s what the experts say. Yes, we’ve all heard it.. Millennial’s this. Millennial’s that. But nobody really tells you what Millennial’s expect when working with a real estate agent.
I’m here to help inform you of what Millennial’s look for in a real estate agent. As a millennial, myself, I can firmly stand by these next few characteristics that agents should have to attract Millennial buyers and sellers.
Someone who is always available to answer a quick question
Millennial’s communicate all hours of the night. They expect to be able to communicate with their agent the same way. I’m not saying they’re going to call you at 3:00 am, but I am saying that if they text you at 9:30 at night. They expect a quick text back of acknowledgement. If you can’t answer their question or problem right then, simply let them know. Communication is key in every relationship, especially millennial’s. To give yourself time during these specific situations, write up and post some articles with frequently asked questions on buying or selling on your website that they can reference.
Someone who offers in person experience and education (Experiential Marketing)
This may come as a surprise to some of you, but millennial’s love in-person classes, training, or other educational or entertainment events. In the marketing world, this is called experiential marketing.
This is a great marketing approach to nurture relationships, as well as open up many opportunities to create new relationships. Keeping in touch with your sphere, past clients and their potential referrals is a key in sustaining growth.
Kiko Adasi a Successful team leader in DC hosts bi-monthly happy hours in different neighborhoods. They’ll host VIP wine tastings and brunches and will also host an annual party where their Millennial clients and prospects can interact with their past clients from other generations in a casual atmosphere to connect on a personal level.
They do this not to try and sell a house, but to position themselves a resource for their clients in networking and in home buying/selling. They have a close relationship with their past clients and they continue to choose to spend time with them outside of work before and after they find their dream home.
Someone who is perceived as authentic online
Millennial’s don’t need you to tell them if you are ‘awesome or not’, they can google that. They want to know whether you can give them a product that they want and expect. Millennial’s can be very skeptical, they are the ‘most marketed to generation in history’. The best way to reach them is to be loud and authentic where they can relate to you.
This means that they will expect you to be active on social media, but you should also offer a presentation that is very real and authentic. There is a reason why some YouTube celebrities who film everything on their iPhone and have millions of subscribers.
Someone who has EVERYTHING they need on their website
The internet has commoditized everything. Millennial’s are looking for accessible information. Now that information is at the tip of their fingers, they will research everything that they want.
This means that having a mobile friendly IDX is important. But more importantly, they want someone who is knowledgeable and can get the answers to everything they need. Like, neighborhood stories, market stats, tips for buying and selling.
Confidence and Friendliness
According to a study done by Century 21, 82% of Millennial’s shared that when they are looking for an agent, it would be important that they could socialize with their agent, aside from doing business with them.The two personality traits millennial’s ranked as the most important that their agent have are Confidence and friendliness. 42% considered recommendations from friends or family members.
Someone that can help them plan & find turn key homes
Millennial’s have spent significant portion of their house hunting and pre-house hunting life watching home remodeling shows. They love and expect properties that look like “after” homes and will pay top dollar for it.
Because their lifestyle is so busy as their trying to establish a career, they don’t typically revolve around a home. Coming from a personal experience, they are typically used to living in apartments with leftover Ikea furniture from their college days.
Someone who provides educational content on their website
It’s no surprise to anyone that Millennial buyers are online looking for answers and information about buying a home. If you can provide quality articles that truly answer their common questions, you can dramatically increase your chances of being their agent.
Nathan Garret, a Louisville Premier Agent had five first time home buyers reach out them because they were searching for things in his market. Here is an example of his website content – CLICK HERE