Becoming digitally and technologically savvy is a requirement, not an option, for real estate agents and brokers working with Millennials. And where are Millennial clients? On their mobile devices.
Old Adage Rings True with Today’s Millennials
The old adage of “meeting your clients where they are,” not where you are, is today’s must-do for agents and brokers. And where are those Millennial clients who account for 38% of total home buyers and/or sellers? On their phones.
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What Millennials Want & Expect from Agents
Millennials expect real estate agents and brokers to essentially give them all the information they need and want about the homebuying/home selling process. They want/expect relevant, meaningful information so they can be successful participants in real estate.
Millennials want/expect Information and programs such as:
- Programs that provide specific, accessible mortgage information and options for first-time buyers
- Clean, Instagram and HDTV worthy photos and videos of listings that are relevant and consistent with the specific Millennial client’s budget
- Educational content, blogs, emails and webinars about how to buy, sell and simultaneously buy and sell homes on their website that is mobile friendly
- Agents! Enter your website URL at me or Google’s Mobile Friendly Test to see how your website looks on different mobile devices
- Accessible, transparent, streamlined, seamless information about how-to get qualified for a mortgage, appraisals, closings, etc.
Millennials also expect real estate agent and brokers to be equally expert about them and how they do things…things such as:
- 99% of Millennials do their home search online
- 95% of Millennials rely on their friends and peers the most when making “big life decisions” such as buying/selling a house, not their parents
- 85% of Millennials love people who look like them in agents’ ads, images and videos
- 78% of Millennial first-time clients could well become repeat clients
- 75% of Millennials expect personalized content that is behaviorally and geographically based on their preferences, needs, and budgets
- 73% of Millennials won’t read reviews that are more than 3 months old
- 72% love experiences and events so create your open houses as events Millennials can participate in and enjoy
Millennials Want Collaboration
Bottom line…what all this boils down to is that Millennials want and expect real estate agents and brokers to treat them as collaborators, not commission checks.
Find and meet Millennials online on their mobile devices. Give them information about you, your specialties and expertise (first-time buyers, repeat buyers, relocating buyers, luxury buyers, investment buyers etc.), your brand, your listings, your educational offerings, your community connections with non-profits, your passions beyond real estate. Make yourself and your brand three-dimensional so Millennials can “find” something in you they can relate to and legitimatize in you.
Importantly, just as agents and brokers are authentic and consistent when they meet clients face-to-face, your digital communications must be authentically and consistently ”you.”
Thanks to the National Association of REALTORS® and the Pew Research Center.