How to attract more millennial buyers to your business
Millennials now represent the majority of first-time homebuyers and make up one third of homebuyers overall. Appealing to millennials– those born between 1981 and 2000 – could be a smart way to boost your business. In addition, younger clients have greater potential to turn into repeat business since you’re establishing a relationship early on in the home ownership journey. Here are a few ways that you can help draw in and retain more millennial customers to your real estate business.
Communicate at their speed
Millennials are constantly connected through their smartphones and have grown accustomed to quick responses and feedback from their networks, whether it’s through a “like” on social media or confirmation that a recipient has read their message. Make a vested effort to reciprocate this rapid speed of communication. This doesn’t necessarily mean constant phone calls and emails but something as simple as acknowledging receipt of a message and conveying your intention to follow up can help a young client feel assured that you’re attentive and responsive.
As new innovations and technologies emerge on the market, newer generations are typically the first to adopt them. Financial technology platforms are a great example of this. Do some research on the latest investment, finance and budgeting apps such as Mint and WealthSimple. Having excellent recommendations at-the-ready for apps that millennial clients will find useful conveys you as a knowledgeable and tech-savvy real estate agent that keeps up with new insights.
Not only are paperless solutions more environmentally friendly but millennials will appreciate having digital copies of documents, paperwork and research readily available and accessible from anywhere. Instead of printing out market research documents or suggestions for vendors to renovate a home, set up a Dropbox or Google Drive for easy access to these items. Seek options for e-signatures when possible and explore electronic payment as an alternative to cash or cheques.