The National Association of REALTORS released the first ever Home Buyer and Seller Generational Trends report last week. The 104-page document compares the habits, practices, beliefs and goals of the Silent Generation, people born between 1925 and 1945, and all subsequent generations through the Millennials, who were born between 1980 and 2000.
Based on some of the data regarding the younger generations, Help-U-Sell Real Estate is perfectly poised to assist them in their real estate transactions.
Younger buyers are more likely to want help understanding the process because they’re most often inexperienced in purchasing a home. Help-U-Sell offices often have agents dedicated to working with buyers, and our specialized Jack Bailey Buyer Consultant Training program is nearing completion.
The majority of Millennials who sold their homes used a full-service brokerage, but they were more likely than other generations to opt for limited service, presumably due to less equity in their properties. With a business model that offers full service (or less, if desired) for a low fee, Help-U-Sell is a perfect fit for the newest generation of homeowners.
Why are the younger buyers and sellers a desirable demographic? According to the report’s findings, they are the most optimistic, and younger sellers are the most likely to use the same broker or agent for their next purchase.
What can you do to attract Millennials?
* Make sure you’re easy to find online.
* Consider creating a Facebook ad that targets that age group who live in your area. You can further home in on potential buyers and sellers by selecting people who are newlyweds or just had a child, factors that could precipitate a move.
* Avoid the hard sell. Instead, offer information in a conversational tone.
* For buyers, write a blog series or create a drip email campaign geared toward educating first-time buyers.
* For sellers, let them know about your low set fee and how they can save the most money. These tips can include staging on a budget and how to market their property to friends, co-workers and neighbors, along with the different ways your office works with sellers.
What tips do you have for working with younger buyers and sellers?