We have learned about the millennials and what makes them an important demographic to target. According to Realtor.com’s 2020 Housing Market Predictions, millennials comprise the largest percentage of home buyers this year. This blog post is focused on some tips to assist millennials in purchasing their first dream home.
Make Everything Accessible Online
With Covid-19 accelerating the macro trend in real estate to pursue the home search online, 90 percent of the people start their home search online, and 51 percent of the buyers find their homes on the internet. Buyers are hesitant to meet in person to tour a property, and open houses have become a lot infrequent.
Real estate agents can take advantage of high-quality photography, virtual tours, and the newly launched Flo to have every angle of the property available to view online. This functionality allows millennials to tour the properties from the comfort of their homes. Also, virtual tours and high-quality photography enables the millennials to share the house hunting experience with their close family members.
Hand-Holding Assistance for Anxious Buyers
Many of the first-time homebuyers do not fully understand the process that leads to anxiety or feelings of instability. The more you and the brokerage provide assistance and comfort to ease the pressure, the more comfortable the millennials will feel. Providing the education and knowledge of the process and walking them through each step will likely result in a complete purchase. Assess their situation and offer logical solutions to the issues that may occur for a smooth closing.
Understanding Buyers’ Values
Millennials put a lot of emphasis on their values. Their values are the driving factors when they choose to purchase from one brand over another. They believe in their values and want their dollars to do the same. For example, buyers may not be as interested in a beautiful open concept home with plenty of entertainment space on the back patio as a smaller home closer to a weekend farmer’s market and a hiking trail. Values can stir many emotions, so understanding and targeting their niches will help create a relationship. Not everyone is the same, and values change with time. It is essential to understand your millennial client and their values. Their individuality is what makes them unique and a massive target audience for real estate agents.
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