Last year, millennials were identified as the nation’s largest living generation. As this demographic, aged 16-36, enters the real estate market, it’s time for agents to focus their efforts on selling homes to them. Understanding what motivates these adults to buy and identifying how they differ from the Baby Boomers and other generations can give you the edge over your competitors. These 4 simple steps can help you tailor your selling strategies to meet millennials’ needs and boost your business tenfold. Even more importantly, protect your firm from the common industry-specific risks you face with a NY Real Estate Insurance package.
Utilize social media.
It’s almost impossible to come across a millennial who does not have some sort of social media page. Facebook and Twitter are two main platforms that your firm should implement to interact and engage with this demographic. As most millennials use social media to regularly communicate, this is the best platform to grab their interest.
Focus on the neighborhood.
According to HomeSpotter, Millennials tend to be much less interested in finding the perfect home and much more interested in finding the right community that can align with and support their interests, passions, and needs. This is a group of people that cares deeply about supporting local businesses and causes, prefers public transportation over owning cars (in urban areas), and would rather be eating dinner on a patio at a restaurant down the street than cooking a meal in their own home.
Show the home, then sell the neighborhood. Mention any hiking trails, outdoor activities, local breweries, hot restaurants, and top bars. Remind them of the lifestyle they are buying into, not just the home itself.
People use their smartphones for everything these days- and real estate searches are no exception. Ensure your firm’s site is mobile-friendly and allows visitors to read up on your listings, view plenty of photos, and even take virtual tours from their phones.
In a digital age, customers want instant gratification. If your firm takes days to respond to a request, that lead could potentially be lost by then. Make responsiveness a priority- here’s how:
- Set up email alerts to your phone. If a request comes in, you’ll be notified immediately.
- Set up alerts to check your email or text messages hourly. This might take some practice at first, but setting aside a few minutes each hour to respond to eager customers can help you make the sale.
- Embrace technology. For more traditional agents, this might be a hurdle to overcome. However, responsiveness is another way for your firm to set itself apart from the rest. If you respond to their query, they have less reason to search elsewhere.
About The Rubin Group
Based in New York, The Rubin Group provides insurance in most of the 50 states. Our full-service insurance brokerage provides insurance and risk management services to individuals in all income brackets and businesses of all sizes and types. We understand that every client has unique coverage requirements, and we are passionate about providing the ideal individualized coverage for each customer. Each member of our team takes the time to truly understand your situation, the particular risks you anticipate – and the very real risks you’ve not yet contemplated. For all of your insurance needs, contact us at The Rubin Group!