Property Collective
13 min read
What You Need To Know When Working With Millennial Home Buyers
“Millennials” are the group of people born between 1981 and 1996, and they make up a growing proportion of New Zealand’s home owners. This generation is known for being tech-savvy and careful with their money, so what they expect from their real estate agent can often be quite different to older people. In this article, we have six tips for how modern real estate agents can utilise social media, innovative tech tools, and professional expertise to appeal to the increasing population of millennial home buyers.
It’s no secret that the internet is a big part of younger people’s lives, and it definitely impacts their decisions about where they spend their money. Before going to a new restaurant, hairdresser, or gym, most millennials will check out the business’s website and reviews to see if it’s likely to be any good. When they’re considering working with a real estate agent, they’re sure to do the same thing.
Any real estate agent who wants to work with millennial home buyers needs to make sure that their online presence is fantastic. Be sure to regularly update your social media profiles and website. Try to appear professional, friendly, and knowledgeable. You could also think about asking past clients for testimonials or reviews to boost your social proof.
Having a strong online presence is a great first step, but you could take it a step further. Digital marketing is one of the best ways to appeal to younger clients. Instagram has more than a billion global users, many of them millennial and Gen Z, so it’s a great idea to use these platforms for advertising.
Take photos of houses you’re selling and regularly post them on your social media. Be sure to add appealing, professional captions. When you add hashtags and location tags, it will help these posts show up on the feeds of the people you want to target. If you want extra help with this, you could start working with a social media manager.
While older clients may be keen to pick up the phone and start viewing houses, busy millennials often want to make sure they’re truly interested before coming to an open home. If you don’t post many photos of the property, they’ll often find it frustrating and move onto other options. On each online listing you post, try to include:
This generation isn’t known for being particularly carefree with money. Most of them are old enough to remember the 2008 financial crash, and have had to deal with rising costs of living, not to mention the economic effects of the Covid-19 pandemic. Housing costs in New Zealand are currently at an all-time high, so if you’re working with a millennial client, keep in mind that deciding to buy was probably a huge decision for them.
To appeal to younger home buyers, it’s vital that you put yourself in their shoes. They probably want their new home to be a safe, warm place that they can settle and perhaps raise a family. As you write property descriptions, make sure that you highlight features of the house that will make their purchase feel like a solid financial decision. Sure, a pool’s nice - but many millennials are more likely to care about practical things like double glazed windows, open plan living, natural sunlight, and energy efficiency.
For a lot of millennials, technology is a key part of their life. They’ll appreciate working with a forward-thinking real estate agent who uses tech to make the home buying process easier. For instance, don’t just leave a phone number on an online listing so that people can call you to book a viewing. Instead, you can use an online scheduling system to let them book their preferred time and have it automatically added to their calendar.
Of course, real estate technology also goes much further than scheduling systems. Customer Relationship Management (CRM) systems will help you track your clients and the interactions you have with them. You could also impress millennials by using modern property tech tools to give them access to advanced insights about the property they’re considering. This way, they’ll feel like you’re going above and beyond to help them make the most informed decision about their property purchase.
For many of your younger clients, the house that you’re selling them will be their first home. You’re the expert, so you should make sure you’re helping them understand the process and get all the benefits they’re entitled to. Be sure to mention all the financial help that they might be eligible for. This might include things like a First Home Grant or early access to their KiwiSaver account.
If you know a great mortgage broker or lawyer who could advise them, you could offer to set up a meeting for them. Going the extra mile and making sure your clients have all the support they need is a great way to ensure they’ll be recommending you to all their friends and family in the future.
For more advice on using your online presence to attract modern real estate clients, check out these posts:
Expert tips – How to utilise social media to create a successful audience as a real estate agent
1. Prioritise your online presence
It’s no secret that the internet is a big part of younger people’s lives, and it definitely impacts their decisions about where they spend their money. Before going to a new restaurant, hairdresser, or gym, most millennials will check out the business’s website and reviews to see if it’s likely to be any good. When they’re considering working with a real estate agent, they’re sure to do the same thing.
Any real estate agent who wants to work with millennial home buyers needs to make sure that their online presence is fantastic. Be sure to regularly update your social media profiles and website. Try to appear professional, friendly, and knowledgeable. You could also think about asking past clients for testimonials or reviews to boost your social proof.
2. Invest in social media marketing
Having a strong online presence is a great first step, but you could take it a step further. Digital marketing is one of the best ways to appeal to younger clients. Instagram has more than a billion global users, many of them millennial and Gen Z, so it’s a great idea to use these platforms for advertising.
Take photos of houses you’re selling and regularly post them on your social media. Be sure to add appealing, professional captions. When you add hashtags and location tags, it will help these posts show up on the feeds of the people you want to target. If you want extra help with this, you could start working with a social media manager.
3. Create detailed online property listings
While older clients may be keen to pick up the phone and start viewing houses, busy millennials often want to make sure they’re truly interested before coming to an open home. If you don’t post many photos of the property, they’ll often find it frustrating and move onto other options. On each online listing you post, try to include:
- Plenty of photos. This is the most important thing - the more photos, the better. If the listing lacks pictures of key areas or the outside of the house, a lot of millennial home buyers will assume there’s something wrong with it.
- A video tour. This should be an actual walkthrough (not just a slideshow of photos), to give a feel for how the house flows. If you can, drone shots are a great touch.
- A floor plan. This makes it much easier to understand the size and layout of the property.
- An indication of price. It’s not always possible to include this, but if you can, most home buyers will appreciate knowing if the place is within their budget or not.
- A full description. Buying property is a huge decision, so most people want as much detail as they can get. If you include all the key information on the listing, you’ll also be more likely to attract serious buyers.
4. Emphasise value
This generation isn’t known for being particularly carefree with money. Most of them are old enough to remember the 2008 financial crash, and have had to deal with rising costs of living, not to mention the economic effects of the Covid-19 pandemic. Housing costs in New Zealand are currently at an all-time high, so if you’re working with a millennial client, keep in mind that deciding to buy was probably a huge decision for them.
To appeal to younger home buyers, it’s vital that you put yourself in their shoes. They probably want their new home to be a safe, warm place that they can settle and perhaps raise a family. As you write property descriptions, make sure that you highlight features of the house that will make their purchase feel like a solid financial decision. Sure, a pool’s nice - but many millennials are more likely to care about practical things like double glazed windows, open plan living, natural sunlight, and energy efficiency.
5. Set yourself apart with tech tools
For a lot of millennials, technology is a key part of their life. They’ll appreciate working with a forward-thinking real estate agent who uses tech to make the home buying process easier. For instance, don’t just leave a phone number on an online listing so that people can call you to book a viewing. Instead, you can use an online scheduling system to let them book their preferred time and have it automatically added to their calendar.
Of course, real estate technology also goes much further than scheduling systems. Customer Relationship Management (CRM) systems will help you track your clients and the interactions you have with them. You could also impress millennials by using modern property tech tools to give them access to advanced insights about the property they’re considering. This way, they’ll feel like you’re going above and beyond to help them make the most informed decision about their property purchase.
6. Set millennial home buyers up for success
For many of your younger clients, the house that you’re selling them will be their first home. You’re the expert, so you should make sure you’re helping them understand the process and get all the benefits they’re entitled to. Be sure to mention all the financial help that they might be eligible for. This might include things like a First Home Grant or early access to their KiwiSaver account.
If you know a great mortgage broker or lawyer who could advise them, you could offer to set up a meeting for them. Going the extra mile and making sure your clients have all the support they need is a great way to ensure they’ll be recommending you to all their friends and family in the future.
For more advice on using your online presence to attract modern real estate clients, check out these posts:
Expert tips – How to utilise social media to create a successful audience as a real estate agent
The Complete Guide To Building A Great Real Estate Agent Website
11 Tips To Help You Shoot An Amazing Real Estate Virtual Video Tour
