Dubbed “Generation Y”, millennials are the tech savvy generation that is now entering the housing market in a big way. According to leading real estate websites, Millennials are the largest group of home buyers in the world at the moment occupying as much as 45 percent of the market in some countries.
Now that millennials have buying power, it’s only practical for real estate brokers to target this growing market. Below are a few tips on how you can successfully market your properties to young home buyers.
- Understand The Millennial Home Buyer
Millennials are known for delaying traditional decisions like having children and starting a family. They are budget conscious and use a significant amount of time before making a big financial investment. They think visually, are highly immersed in social media, and use online websites for home searches. Fortunately, millennials are still using the expertise of agents. Create effective marketing strategies by learning the behavior of your target.
- Sell The Location
For millennials, it’s all about the zip code. They want a property that is near to their work to avoid traffic. They want to live in an area that promises a work/life balance. Always point out what makes the location worth investing in. Enumerate the opportunities and establishments the young buyer may enjoy if they purchase the property.
- Highlight The Amenities
Aside from location, millennials are also very conscious about a property’s amenities. Don’t forget to showcase what makes it different from other developments in the neighborhood.
- Work With Experts
We all know how hard it is to get leads nowadays. Working with an expert who knows how to connect with the market you’re trying to reach can make a big difference. For example, Libra Prime, a property consultant company that focuses on commercial leasing and property investment, can help you get the leads that you need.
- Millennial-Friendly Price
Remember that millennials are only starting to build their finances. In some cases, they’re still paying student loans and trying to create good credit. Cheaper properties are more attractive to younger buyers than expensive ones.