Stand Out on Social Media
Millennials represent the next generation of buyers, who are going to purchase more homes than the previous generations. According to a survey by the National Association of Realtors, millennials – those born between 1980 and 1995 – plan to buy and sell homes 9% more than the next generation (baby Boomers), spend 70% more on a home purchase than those from the Silent Generation, and buy a home later in life than the Silent Generation did. But Realtors report that while buyers from the Silent Generation were more likely to buy a home for the opposite sex, buyers from the Millennial generation are more likely to buy a home with the same sex.
Realtors also report that millennials are more likely to do their own home research and are comfortable buying without an agent. They have less of an attachment to home ownership and are less motivated by property features and amenities than previous generations.
Generational Differences and Real Estate Marketing
Millennials have different tastes than previous generations. Marketers need to understand the generational differences when it comes to purchasing a home, and they need to nurture their brand by always remaining relevant and up to date.
To attract these new home buyers, Realtors should look to the past and take a page out of the marketing book of the Silent Generation. Consider how your business and brand can relate to previous generations while developing a new brand to connect with millennials.
Turn Open Houses Into Events
Millennials were early adopters of the internet. They were the first generation with access to the internet and they grew up on technology. Companies are now realizing that targeting millennials with real estate marketing can deliver amazing results.
There are some mistakes that brands are making on this channel that we can learn from. I recently did a webinar called 7 Mistakes to Avoid for Getting Millennials to Buy a Home. One of the key points was that the brands that were turning open houses into events were doing a much better job than the brands that were doing it haphazardly or at a small scale.
Turning open houses into events was critical for making the events exciting for the millennial. You have to have a compelling reason for millennials to go to an open house. Examples include themed open houses, games, experiences, food trucks, live music and open houses on hard to reach streets (where no one else lives).
Have a Modern Website
Millennials don’t want or need your traditional real estate website. While having a website that’s visually appealing is important, your website’s functionality and content have to be right before you even think about a website redesign. If you don’t have a website that’s modern and meets the needs of your Millennial customers, you’re severely limiting your chances of signing a millennial to a listing.
At over 78 million strong, Millennials are the largest generation in the United States. So naturally, their buying power has skyrocketed over the past decade. When it comes to real estate marketing, their buying power often surpasses that of the Generation X. But what makes Millennials unique?
For one, Millennials are more tech savvy than previous generations. They understand web coding and enjoy using online apps and services. Additionally, Millennials are more loyal than any other generation, so they’re more likely to stick with a well designed website than they are to move on to a newer one.
Use Facebook Ads
Make sure your social media marketing objectives are crystal clear. This gives you the chance to figure out what areas of your website and content aim to achieve.
Identify your target audience and then create Facebook ads to match. Facebook ads allow you to create highly targeted ads that highlight your property in the perfect light.
Conduct an extensive SEO analysis to determine the level of interest in your property. Once you know just how many individuals are searching about your property, you can create Facebook ads accordingly.
Target older associates with their friends and families. Establishing intimate relationships with your target demographic will help you gain a deeper understanding of their wants and needs, and will result in better customer support.
Use images that are professional and have clear, concise call-to-actions.
Go high-tech when promoting any new property listing. It’s possible to upload photos of the property directly to your Facebook page.
Promote your property on Google Maps for free. Users generally go straight to a business’s website for property listings on Google Maps and this is a quick and easy way to get your property on the map.
Try promoting new property listings via an offer or special promotion within your Facebook page. For example, if you sell a brand new home, provide readers the opportunity to get a little discount on it.
Manage Your Social Media Content
One of the biggest mistakes many real estate agents make is failing to promote their social media content. Even though it’s only a small part of the strategic content marketing plan you’ll need to implement your integrated marketing campaign, it’s still an important strategy to keep your agency’s social media efforts a top priority. One of the most important steps you can take as an agent to keep your strategy on track is to manage your social media content.
By assessing the most important social media channels you use, you can create a personalized content and scheduling strategy to maximize your content’s reach. To help you review your current social media strategy, here are a few questions to help you strategize your content.
Focus on Online Content
Engage on Social Media
Real estate agents and marketing professionals know the millennial market likes to connect with their social networks to do their research and eventually choose their real estate professional and their home. Facebook, Instagram, Twitter, and Pinterest are all important social media platforms for millennials. While each social media outlet has its advantages when marketing to millennials, the increase in mobile users is changing the industry as more millennials are turning to social media to get their information.
Increasingly, millennial home buyers are thinking about their family lives and lifestyle, and the likelihood that to match the type of home they want, they will need to buy in order to afford to live the lifestyle they desire. A home that is within a conversation range of a good school district, a child’s preferred sports and arts organizations, or workplaces, is an attractive option to some. They are likely to check into the neighborhood and a home’s neighborhood before it is ever listed for sale.
Social media will allow real estate agents to expand their outreach with millennials by providing them with access to information they traditionally would have had to find at public libraries, schools, or by browsing online. The expansion of real-time information on the current activities of the neighborhood is essential to informing generations about potential upgrades to neighborhood amenities that may make their real-life lives better.
Market on Other Social Media Platforms
Social media is a multi-billion dollar industry, so starting or enhancing your social media marketing program should be business casual for you, because, after all, your target market is the millennial generation. Millennials are those individuals born between the late 1980s and the early 2000s and the fastest growing segment of society.
They hold the high value of tradition and culture, and are versatile in the use of the latest technology. To thrive and maximize your business potential with millennials, it’s important that you involve them in your marketing efforts to tap into their ever-growing abilities and trends. Get in the game and use social media platforms to your advantage. You can market your real estate business through the following social networks.
Facebook: You can provide your Facebook fans with exclusive perks like audio and video downloads through the real estate company’s page. Also, consider developing a Facebook event that’s simple and easy to access for those who want to learn more about your deals.
Instagram: It’s a need to have feature on your social media marketing program. Instagram increases followers and strengthens your positive branding. Not to say, Instagram is a real estate’s best friend.
Post Your Listings on Instagram
Make your listings call-to-action on Instagram!
Millennials have a well-known affinity for the photo sharing app. Not only is Instagram a place to promote your listings as a real estate agent, but it’s a place to show off your home, too. Take it a step further by allowing buyers to check out your listing using Instagram…give them the option! This way, they can show it off to their friends on Facebook and Twitter, too, and feel they’ve gained a sense of pride in their new home because of the service they received from you.
Create an Impressive IDX Website
Use a Real Estate Texting Application
Texting is one of the best ways for marketing to millennials, especially if you’re selling real estate. In the real estate industry, it’s a tried-and-true marketing strategy that has always been best. All you need to use is a texting application and your phone.
The convenience of texting has really helped millennial to obtain homes. Some millennials in many cities such as university towns have a hard time finding homes to cultivate and provide. They cannot afford to buy homes so now they are using texting application instead of signing a mortgage.
Some millennials buy homes and use apps to rent their homes out to investors and others without their knowledge. But some homeowners are okay with texting strategy, because they just want to get an investor to buy and market their home offering a good deal.
But of course, the key to using a texting app is to have a good messaging strategy. You can start by offering the basics such as property photos, neighborhood insight and neighborhood value. After that, you can offer guest lists and concierge services. Generally, millennials like to connect with all people with their own interests.
Post Great Images of Your Listings
Images make up the largest part of a real estate listing and are key to getting interest and transfers (offer requests) for a property. The best use of images in a posting is to show the distinctive features of the property. You can achieve this by both including photos of the property as well as those of similar properties. This will provide potential buyers with an idea of what they can expect from this home.
Have multiple pictures of the property spread out. You never know which section of a property a potential buyer will look at first. And having bold, contrasting colors of your images will draw the eye.
Be sure to include a map if the property is in a popular area. When we want to find a place, we often look at the map to see where it is. A map will help potential buyers know what they’re looking at and what the property looks like.
Add a Landing Page for Your Ads
If people aren’t clicking through to your ad, there’s a good chance you’re not reaching your target audience. This is why a lot of real estate agents have started adding a landing page to their ads.
A landing page is a web page that features one page of valuable content designed specifically for your ad with the goal of prompting people to click on an ad to obtain that valuable piece of information.
It can be any content to help you promote your real estate, but the most common landing page templates include:
- A Listing Showcase
- A mini-van tour of your property
- A home renovation post
- Special content for out-of-state real estate buyers
- A coupon or discount for your services
This one’s a bit outside of running real estate ads, so we’ve saved it for last. But a landing page is a must-have when marketing to younger generations, who seem to be conditioned to expect immediate gratification on just about everything they purchase including their real estate purchases.
Since millennials are so used to not only doing everything online, but also liking instant results, a landing page can help you with their retention and conversion rates.
Now, let’s take a look at some of the best real estate marketing tips for millennials from the pros.
Use the Right Tone
Millennials attend to the tone they hear in social media. Millennials also expect modern, up to date messaging.
Create a dynamic tone that’s engaging, fresh, reliable, and real. By: Skipper Mckee
Advertising has changed for younger generations, and the style you use in marketing must reflect that. Aggressive tactics and using the latest technology is not going to work for advertising to Millennials. Instead, make the content of your advertising relevant to them.
Incorporate language that is informative and enticing. Information and exciting details are a great way to grab the attention of Millennials. Millennials are communication specialists, so you need to communicate with them.
Use hashtags and other features on Facebook and Instagram to engage your audience.
Generally, Millennials are more concerned about truthfulness than baby boomers, and they will lose interest in what they perceive as false.
Make their voice the real voice of your company.
Interestingly enough, the advertising that has worked best for Millennials is the the advertising that responded to what they said about other products or about the company that has products they were interested in.
Millennials distrust brands. Branding just won’t cut it with this generation. And many of them are detractors of brands.
Millennials have been recently diagnosed with ADD (Attention Deficit Disorder) and are generally fidgety.
Create Educational Content for Millennials
Have All Your Information Readily Available
What you’re selling is a lifestyle – so make sure your real estate website, hubs, and flyers are full of engaging, high-quality content and images. Use statements and headlines that pique the interests of your target audience, such as by appealing to youth, millennials, or families.
Keep technology on your side, too, with tools such as Google Maps, mobile-friendly websites, and (optionally) QR codes for easy mobile access to your listing details.
Make it easy for millennials to locate your property. Potential buyers want to research before they arrive, and address-specific directions can give you the edge over other properties. Remember that, while making the trip, they’ll probably be commuting; consider alternative locations in the area of the property that will encourage traffic to come to you.
Invest in Getting Reviews for Your Business
According to new research, reviews are the best form of online marketing you can use to promote your business. In the past, a business could attain a following or reputation by word of mouth, which means other people would talk about them. If you could get ten people to talk about you an average of three times each, your business would have 50 testimonials, which is equivalent to 250 highly-emailed recommendations (with all the work that entails).
Nowadays, as technology advances and people become more open to social networking, websites, blogs, and online reviews have become the most competitive way of getting your brand noticed.
You have probably already heard the saying, "The customer is always right." As a business owner, you should always be working on ways to make you customers happy. And if there is one thing your customers look for, it is negative reviews. Your customers will be more than willing to read reviews written by your customers if you offer something of value.
This approach of finding out what your customers are saying and then following up with them can lead to some very beneficial results.
Getting reviews for your business is easy. With more and more technology on the rise, generating a positive review has never been easier. And not only are there a plethora of directories, reviews, and directories for positive reviews, they are also easy to find.
Offer to Do the Legwork for Them
Millennials’ energy fluctuates as they go from one career to the next. They feel best when they do what they love – be it working on a startup, organizing events at their neighborhood arts council, or building homes. The good news is that millennials don’t enjoy working in offices where they have to sit behind a desk. So if you could develop a passion for showing them homes, or just for doing home tours, your efforts would be rewarded dozens of times over.
Depending on the real estate listing service you use, you may find it fairly easy to own a few properties within your age group and create immersive tours for them. The key is to tap into a millennial’s strengths, which, at this point, are their passions and strengths. If you’re providing a platform for them to showcase their talents, you will likely find yourself with a long-term client.
Tell Your Stories on Instagram
Shooting and editing Instagram Stories are an excellent way to attract millennials to your property. Have employees share their stories and use these moments to promote your properties. Educate millennials on the benefits of being a renter. But be careful not to talk down to millennials. Let millennials know you’re on their side. You’re not trying to sell them anything but helping them find something that works for them in the long run.
Although millennials are more likely to be moved by emotion rather than logic when it comes to purchasing properties, they’re still statistically smarter about buying a home than previous generations. Millennials prefer real estate that is a reflection of their lives. This means your property presentation must be simple, vibrant and engaging. They want to get to know you on an individual level before meeting you face to face.
Engaging millennials on social media gives you the opportunity to get in the door instead of wasting time at open houses. Millennials are moving as fast as they can in finding a place to call home because they want a space that they can grow into. They need to connect with others and feel part of a community.
Be Creative With Your Taglines
This is important for your real estate marketing for millennials. Your tagline doesn’t have to be a catchy slogan, but it should play on the idea that your millennial client is in for a real thrill when they buy your property. Millennials want to know that they’re going to get a property that will become a treasure for them to treasure, so this is important for you to keep in mind.
Property Culture Is Critical for Millennials
Millennials want to help change the world, and in order for them to want to do that, they need to feel like they are part of something bigger or that their property is part of something bigger. Striving to offer your client’s more than a property is a way to get more millennials to go ahead and buy your property.
A Pretty Face Isn’t Enough
Millennials have been spoiled for years, and they have kind of learned that the only thing that really matters with their property is how it looks. They want to see a property that’s pristine and one that is going to resemble the one they’re dreaming of. They want to see an aesthetic that’s going to generate the envy of the other millennials who are milling around your property, but they also want to know that your property is going to be safe and secure.
Make Millennials Feel They Are in Control
According to a 2014 study by U.S. Trust, 93% of consumers say they want businesses to treat them like individuals. And according to research conducted by Myers, Millennials are more likely to trust people than corporations.
This means that if you want to attract and retain Millennials in your marketing efforts, you need to treat them like individuals. Create an online presence that makes Millennials feel like they matter and have the ability to contribute to the brand online.
Stay in touch with millennials through social media sites and create an environment where they can learn about a brand by interacting and sharing with fellow millennials. Your target audience may not want everything they need from the company in one place, they probably want a few different places to come together for support and to get the answers they need. Millennials prefer to have control. By empowering them to do so, you’ll be able to keep them close for a long period of time.
Know What Millennial Homebuyers Want
Millennials are changing the way we shop, engage with brands, and live. So we asked real estate professionals across the country what they’re focusing on to connect with younger homeowners.
Beyond traditional marketing, the word …innovation” seems to be in every real estate platform. Specifically, that means online marketing to engage with younger buyers who don’t face the same constraints of the past.
Forty-four percent of millennials are willing to pay a higher price for a home that has …innovative features,” according to a survey by the National Association of Realtors in 2012. So if you’re hoping to connect with buyers who buy in the next decade, it might be time to dust off your marketing playbook.
Here are 26 marketing tips from real estate pros to get the most through your marketing efforts.
Ensure you’re active on social sites. Millennials use the sites most often an average of four times a day. Most social sites require that you be an active participant to join in the conversation. Make sure your business is active and contributes to the conversation.
Match Content Quality to Your Audience Interest
S, Age, Ethnicity, Education Level.
Match Content Quality to Your Audience Interests
Think of your audience as a customer. If you’re writing for them, you want to make sure your content is not only interesting to them, but that it reminds them of something they have previously purchased from you. The content should be written in a way that’s conversational, not too focused on industry buzz words, and very conversational.
Many of your readers will be Millennials and Gen X.
Millennials are the most digital generation and are not only catching up to older generations in real estate, they’re surpassing them.
The younger you are and the longer your audience has been using the internet, the better chance your content will be shared on social media sites.
Gen X’ers are the most technologically advanced of the three generations. They have grown up with technology and interact with it even more than Millennials.
They are not as comfortable with social media as Millennials, but they have an emphasis on social media and they are the most interested in real estate in terms of social media.
A great way to attract a Millennial audience is to use a simple email list signup form. They love being subscribing to things.
Show Your Expertise
Millennials respond to authority. Marketers can use product knowledge as a way to establish authority …and millennials will pay attention. If your brand is known for a certain piece of technology or you’re a bestselling author, talk about it in your marketing.
For example, when a customer walks into a Lékuju store, the first thing that I…d do is take out my iPhone and show them what the mode I…m using. Every millennial knows what I…m talking about and will walk in my direction. Showing that you know your stuff as a business owner will help the millennial feel confident and at ease when they walk into your store.
Go Beyond Still Photography
Millennials prefer not to be marketed to through text. They want to be shown in pictures.
Aside from being able to use photos to sell a property, the use of video is also critical for marketing. Which is why it is important to have handy tools like a smartphone to shoot videos on the spot and show the property in action.
Showing the property via video is an excellent way to make it stand out amongst the competition and to increase your chances of grabbing the attention of a prospective buyer or renter.
Make Use of Apps to Engage Millennials
If you are trying to get the attention of online buyers and renters, then making use of the latest and best technology is a must.
Millennials don’t like to be mediated by brokers. They consider the market process not so much a way to sell something but a way of establishing a real relationship. Immersing yourself in their online world is the only way to get them on board.
Nowadays, it is easier than ever to connect with prospective buyers and renters. No longer do you need to resort to just the traditional practices of paper ads and cold calling. The next best thing is mobile apps that can easily keep your finger on the pulse of business and provide access to the latest deals.
Just Ask the Right Questions
Focus on Improving Target Market Engagement
Millennials will have the largest impact on first-time home buyers in the coming years. And while first-time home buyers overall spend 20% more on homebuying than first-time buyers did 25-30 years ago, it’s imperative that millennial-focused marketing makes sure they know more about your neighborhood.
Marketing to millennials not just entails advertising to them, but knowing their preferences and their buying criteria since they’re the ones most likely to value digital self-assessment tools of housing and neighborhoods.
Research from the National Association of Realtors shows that millennials are more likely than other generations to like to use digital tools to view homes. Millennials are also more likely to use prices, photos and floor plans to assess neighborhoods, and they’re more likely to measure neighborhood safety, schools, and the long-term value of a home.
To increase customer engagement with your marketing, add more millennials to your target market. First, make sure millennials are aware of your neighborhood…and your specific property. Reach out to millennials…offer special promotions and incentives and/or lively events to get millennials in your neighborhood excited to connect to your neighborhood.
Offer Help to Get Low-interest Loans
Generation Y wants easy to understand information and will respond well to direct calls to action.
Feel free to ask for their email address at the end of the call to follow up with them.
If you need to reach the kids (Generation Y), 40% of your households need to use you as a resource.
While we’re talking to the Gen Y market, we need to remember that they certainly want your help for financing and will not use you for an assignment for a major national newspaper. So don’t panic when they ask you to help if they need a low-interest loan. In fact, be AMAZING about it.
Generation Y’s beginning to understand that finances are a part of their future, and that they themselves might be the ones helping their parents scrape together a downpayment. So they’ll need your help to find a low-interest loan and that’s okay!
Using your expert knowledge to find low-interest loans is the best way to earn Gen Y’s trust. If you’ve done everything you can to educate them, they’ll appreciate your help and respect your time.
26 Tips for Real Estate Marketing to Millennials
Contact social media experts. Millennials love technology and expect to be able to use the company’s products and services remotely; live chat is a must for your website and is critical for Millennials’s mobile apps. Offer the chance to share the experience. Be sure to make the experience social. Millennials want to feel valued and will connect and share with friends. Use technology. Millennials are comfortable with technology, and they find salespeople distant and impersonal, which is why it’s critical to create a personal connection online and via social media. In fact, remote help is one of the most requested features for Millennials.