4 key traits of the next generation real estate buyer you should know!

(4 min read)

1. Millennials are gradually becoming the most important real estate consumer segment – they speak and breathe tech

 

As a real estate agent, you shouldn’t be missing out on the right set of circumstances….over the next few years. While millennials are frugal when it comes to spending, their ability to access information quickly and easily on the internet has provided them with more choices, in less time. They  will continue to buy a $500 jacket online after having tried on numerous jackets and scrolled down 20 different online webshops. Millennials want to make sure they are making the right decision.

 

2. Know your audience – Millennials are the upcoming buyers

 

It’s vital that real estate agents familiarize themselves with ideal approaches used to interact with their customers. Today, interactions between real estate agents and buyers simply need to be quick and dynamic.   

The rapid growth of social media such as online networking is changing how prospective buyers get their data. Even reputable labels and real estate organizations are moving their systems online and rethinking their terms for innovation & progress. There are considerable measures for savvy advertisers to become aware of; staying on top can create an open door for achieving more than any other time in history.

 

 

3. The false belief that “the millennial” is “lazy”

 

Being raised with technology, millennials tend to often find ways to automate their work, enhance efficiency in different sorts of day-to-day processes as well as work more intelligently; which might be equal to: More work – Less time. Millennials feel the need to be challenged. When they are not, they tend to show uncritical satisfaction with themselves. According to a Gallup poll, 87% of millennials want professional development opportunities while only one-third have the impression that their organization is making the most of their knowledge and experience.

A few years ago, if you did a good job at the company you were working at and matched the expectations, you would receive a respectable pension and perhaps a promotion. Still a reality…? Nowadays, traditional incentives to stay in an organization are barely alive. Millennials feel the need to develop themselves in a fast paced, future-proof environment and doing “important” work. When millennials feel like something is not challenging enough or feel like they’re not in an environment where the “forward-thinking” mode is ON… They will feel like changing environment or changing partners is the right thing to do. That being said, they also want the right realtor to guide them through the real estate buying and rental process. But they simply need to be – on the same page.

 

4. Millennials think outwardly

 

What does it mean to be “on the same page”? As internet natives, millennials breathe innovation and are inundated with web-based social networking. Connecting with this younger demographic means speaking their language. As indicated by the “Real Estate in a Digital Age 2017” NAR report, more than 90% of real estate industries have a presence online, and the most widely recognized component on their sites are property postings. While you may have officially secured the rudiments, created a website, and have a presence on social media.

There are better advertising techniques available on the web that experts in the real estate industry should use in order to link up with clients who utilize digital innovation. For example, showcase open house live on Facebook. Gone are the times of unidentified associations with impervious management. This age longs for receptiveness and negotiation. Convey your sense of duty regarding straightforwardness and creative interaction to the optimal point. Empowering your customers to visit a property from any place in the world through multiple channels is becoming more and more important.