The journey of searching for a home has evolved over the years. Here’s how to keep up with the times and successfully sell your home to a millennial market.
Millennials, the generation born between the 1980s and the year 2000, are fast becoming the home buyers that you will market to. While some millennials seem to be happy with renting, more and more of them are now entering the property market to buy. However, selling property to this generation is a whole different ball game and requires an understanding of what they value and need most.
A few pointers on selling your home to millennials:
Time is of the essence
Millennials live fast-paced lives and they are used to having information at their fingertips. Communication and quick response time are key to engaging with this generation. Millennials tend to get bored quickly and move onto new things, so it is important to provide them with the information they need as quickly as possible. In light of this, it’s best to know all the details of your home and the sale, so that you are able to answer a millennial buyer’s questions easily.
Make sure that you are ready to embrace any form of communication the buyer chooses. Whether it be email, text or social media, if you’d like to attract a millennial buyer, ask them upfront how they prefer to communicate and go with that method. They will appreciate this and it will be easier to reach them this way. Ensure that you respond as quickly as possible to any queries or concerns a buyer may have. Known as the “instant gratification” generation, the quicker their questions are answered, the quicker they will make a decision.
Get social
Millennials are very active on social media and this is their go-to for many things. They are most likely to begin their property search online, on property websites and social media. Statistics show that about 90% of property buyers begin their search online, so getting your home online is imperative. Advertise your home both on property portals and on social media to catch millennial home buyers in the places where they are most likely to look first. Being first in their mind, will give you a fighting chance at attracting their attention to your home, and being on social media will enable them to share the home on their own social networks for friends and family to see.
Signal reigns supreme
For millennials, internet access is a must-have. The millennial generation rely on the internet for many things, from online shopping to working from home, and it is therefore a very important aspect of their lives. With this in mind, it’s a good idea to show potential buyers that your home has enough signal to provide for a fast internet connection and you’ll be well on your way to getting your home sold.
Punt the location
Inform buyers of the benefits of the neighbourhood. They’re probably looking for the perfect lifestyle more than the perfect home, so if the neighbourhood is suited to what they’re looking for, they will be more likely to consider your home. For example, if your neighbourhood is suited to small children, make sure to tell the millennial buyers about any nearby playgrounds, schools and anything else that may be of interest to a family.
Video is king
The way millennials consume information revolves heavily around video. Creating a virtual tour of your home is one of the best ways to market your home to this generation as they can easily see the entire house within a few seconds. It’s also a quick way for them to see your home on their computer or mobile device, which they will often be using.
Move to mobile
Millennials rely on their smartphones for just about everything and making the move to mobile is important for property sellers. Millennials will use their mobile devices to do anything from chatting to friends, to looking for a house. Mobile devices have become very important tools in the property search, and sellers need to get on this trend as soon as possible. Property portals are a great idea to use, as they often have apps where your home can be listed.
Become a resource
Many millennials are also first time home buyers, so it would serve you well to educate yourself about the home buying process and be able to inform them on the process. Not only will that help you gain the buyer’s trust, but it will also make the process go quicker.
These are a few great ways to attract millennial buyers to your property by appealing to a few of the things they value most. Understanding your market is the first step to finding a buyer for your home and these points should help you sell your home to the millennials that are entering the property market.