Real Estate Marketing: Targeting Millennials

Written by Posted On Friday, 15 June 2018 12:30
Real Estate Marketing: Targeting Millennials Medium

Many people assume that millennials are content with renting apartments, condos, and basement rooms for the next few years or decades. Navigating unemployment, student debt, or early careers, some millennials may not have the financial means to plunge into the housing market.

This, however, is one of the largest myths out there. Millennials may be managing all kinds of debt. But they are responsible for the recent boom in homeownership, and they’re only likely to keep contributing.

In fact, 36% of current households are owned by people age 35 and younger.

When it comes to real estate marketing, it’s essential to account for this sector of the market. Catering specifically to the millennial generation in advertising efforts may be your secret to skyrocketing property sales.

1. Get to Know Your Community’s Millennials 

It’s easy to assume that millennials are tech-savvy, free-floating individuals, keen to travel the world and change it. They work remotely from trendy coffee shops and speak the language of electronics, startups, and community.

This is the stereotype presented across multiple media platforms. Simply Google “millennials” and you’ll immediately encounter images of twenty- and thirty-somethings grinning around open screens and iPhones.

Yet this generation is far more nuanced than this. Millennials may be part of the tech generation, but they are also an energized, complex vector of the U.S. population. Many of them may even be wary of technology, interested in financial empowerment, and curious about traditional career paths. Most importantly, communities will shape this generation differently. Millennial home-seekers in Colorado are going to be very different from prospective buyers in New York.

Successful real estate marketing plans will start by getting to know a community’s millennial sector. Use surveys or other questionnaires to gain insight into millennial perspectives of real estate and home buying.

Talk to your millennial friends over a coffee or a microbrew. Ask them what their thoughts are when it comes to buying a home for the first time or navigating the real estate market. Consult existing millennial clients about their home buying experience.

Attend local events put on by millennial entrepreneurs or leaders. Or hold an event for millennials yourself.

The more you understand the millennial market in your specific area, the greater your odds are of engaging with them appropriately (and successfully).

2. Engage on Social Media

88% of 18- to 29-year-olds use social media; 78% of people ages 30 to 49 engage with Facebook, Twitter, Instagram, YouTube, SnapChat, etc. While many millennials may have conflicting relationships with social media itself, it’s clear that these platforms aren’t leaving millennial dashboards any time soon.

For this reason, it’s imperative for real estate companies and agents to build an effective social media presence. This doesn’t just mean setting up business profiles on as many platforms as possible.

Select one or two platforms that suit your market and your anticipated reach. Facebook and Instagram are solid go-tos when it comes to engaging with millennial audiences and promoting properties.

Companies who show their interest in millennial homeownership on social media are far more likely to gain new clients from this generation. Show interest by enabling in-app messaging, reaching out personally to millennial users, and crafting social ads likely to resonate with millennial home buyers.

Social media is also an excellent avenue for promoting engaging content. Video content, in particular, is dominating current content marketing trends. Posting a candid Facebook live video about homeownership—directed to millennials—can do wonders for your millennial client engagement.

If you keep a blog on your website, craft posts with millennials in mind and share these on social media.

3. Educate, Educate, Educate

Millennials new to the housing market and the world of “adult” debt will appreciate guidance and information as they plan a first-time home purchase. This will always be a need real estate companies and agents can meet.

In the digital content that you create, emphasize your capacity to educate all potential clients about home purchases. In particular, create content designed to inform your millennial audience.

Hire professional filming services and record video tutorials about applying for a mortgage, identifying appropriate lenders, and seeking the right agent. You may even wish to hold a live webinar through social media. Reach out to local millennials by holding live Q-and-A sessions at community centers or coffee shops. Create a blog series that addresses common millennial home buyer questions.

Hire a graphic designer to create infographics for your website, easily digestible digital flyers that present key information to viewers. Indicate your willingness to provide transparent answers to millennial questions and concerns.

4. Go Fully Digital

The future of marketing really is digital. Because the majority of millennials will be somewhat fluent in managing technology, it’s essential to assign the bulk of your millennial marketing to digital platforms.

This doesn’t just include social media. Don’t overlook your website itself, which functions much like a book cover. Opt for a professional, responsive design that accommodates mobile users. Emphasize user interactivity and ensure that all visitors can easily discover the information they are seeking.

Upload 3-D renderings of existing properties or dip your toes into other forms of real estate virtual reality. Millennials are more likely to appreciate companies that place a premium on cutting-edge technology. 3-D and drone view renderings can also streamline the home purchase process. The more digitally convenient you can be for your millennial clients, the better.

5. Market Properties With Millennials in Mind

When crafting property listings, think carefully about property descriptions. You may be tempted to simply upload all the essential details about the property itself.

But you can write property listing content with millennials in mind. Think about what would be attractive or convenient to millennials about a specific property. Is it close to nightlife? Ideal for commuters? Replete with a top-notch sound system?

Emphasize these qualities as you craft property descriptions. You may even wish to categorize property listings on your website according to ideal age group. Optimize your property listing content for searchable key terms, such as “millennial homes” or “first-time home buyers.” This can ensure greater digital visibility for the right eyes.

Millennials are a valuable component of your client base. While millennial real estate marketing does place an emphasis on technology, it is possible to successfully reach this generation simply by engaging with it. Befriend a millennial. Demonstrate your commitment to learning more about this age group's desires, needs, and visions. That is, after all, what a true marketer does, no matter the audience.

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Kate King

Kate King is a freelance writer, editor, and blogger. 

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