With increasing rent prices and moderate home price growth, real estate experts are predicting more people are buying homes this year. Further, experts say that demand for homes for sale will continue to grow — and especially be dominated by older millennials ages 25 to 34, who may represent as much as one-third of home purchases this year.
As such, it makes sense to make the homes you’re selling as marketable as possible to this demographic. Read on to learn some tips to attract house-hunting millennials to the homes you’re looking to sell right now.
Modern design and green touches
Unlike the homes of their parents, sleek features and a wide open design are what experts say millennials want. The top five features that are lucrative to this generation include open floor plans, single-story homes, split floor plans, media rooms and hardwood or tile floors.
Younger buyers are also interested in green features, so anything that is eco-friendly, like environmentally safe materials or even double-pane windows to maximize insulation, are good selling points. Further, showcasing a crisp, clutter-free home is your best bet.
Safety is a priority
Young people buying homes for the first time, particularly those who plan to start a family or who already have young children, likely want to focus on safety. So outfitting the homes you’re selling with the latest and greatest in security systems can be just the ticket to seal the deal.
Systems that offer wireless capabilities to monitor what’s happening in and around a home, along with mobile connectivity, are great features to highlight during home tours because peace of mind is priceless. (Not to mention some home insurance companies give discounted rates to homes that have a monitored security system — often up to 20 percent.)
Take advantage of social selling
Unless you live under a rock, you probably know that millennials are the driving force behind social media. They are connected, quick and in tune with the latest social apps. And with 99 percent of millennials browsing homes online, it makes sense to include social media into your marketing plan.
Most real estate agents are rather comfortable with face-to-face sales and communication. However, maybe you’re a bit put off by social media, or just plain don’t know how to use it. Here are some tips from the experts:
- Create a Facebook page for your real estate services (don’t use your personal page solely for promoting your business)
- Engage potential customers with great imagery and videos (as they say, a picture is worth a thousand words — not to mention, it grabs a reader’s attention quickly)
- Be authentic in your posts and be sure to share testimonials of your happy customers
- Make interaction fun and worthwhile by creating contests for your followers (everyone likes to win freebies)
- Take advantage of promoted posts so you can more easily reach just the demographic you’re looking for
- Use the 80/20 rule: 80 percent of your posts should be about your customers and topics that interest them (buying best practices, moving tips, neighborhood information, etc.) to position yourself as a resource, while the remaining 20 percent can be focused on talking about you and your listings
Overall, though, the key is to find which method works best for you personally. By putting these, and other tips, into practice you increase your chances of more sales.