Millennial have given significant influence in a lot of sectors including in property business trend. Lately, the numbers of young buyers participate in the large market of property industry. The number is impressive especially in the last decade. Therefore, it is highly suggested that sellers and investors take millennial into consideration. Their needs should be on one of the top lists since they are influential. There are potential buyers coming from millennial which may give you better chance to sell your home in the most promising and profitable deals. The first thing you need to do is to catch their attention.
How to approach millennial property buyers
There are differences between younger and older buyers including preferences, way of communication, etc. Since younger buyers are potential to earn you benefit in your business, it is highly suggested to use the most effective approach to catch their attention. Thus, the first thing to do is to analyze the tendencies of millennial. Thus, you can set a great plan to attract them. Here are ways of buying home used by millennial which change the dynamic of home-buying:
Email vs Phone Call
Unlike older buyers who like making a phone call for communication, millennial prefer texts and emails. They tend to choose the most efficient and convenient way in communication. Today, internet data is mostly used by millennial. That is why their approach in communication also tends to texting or emailing. Phone calling is viewed as less efficient by them. Thus, you need to adjust your approach in communication to meet their dynamic.
A Lot of Research
Instead of bugging the seller with so many questions, younger buyers prefer doing their own research to find out about potential house they want to buy. Therefore they tend to be more confidence and sure about what they are getting into. However, they also tend to ask unexpected questions which can put the sellers on edge. Thus, prepare yourself to interpret the information they get from their research.
Set of Expectation
As mentioned above that millennial tend to do their own research so when they need to question it to the seller they appear more confident. It means, they have set their own expectation as well. They don’t like vague information about the deal. They like to know what to expect and when it happens. Thus, you need to be upfront about the entire process so there won’t be any deviation.
Millennial like getting referrals. They tend to trust them with a proven track record. They won’t buy promotional words in advertisement easily. They like doing research and ask trusted referrals. Thus, you need to provide testimonials as well as positive online review to earn their trust.
Guidance for Value
Millennial tend to have difficulty in envisioning what it would be like to live in a respective home even though they appear to be a confident buyer. They value guidance a lot. Thus, you need to point out the potential of the house they are interested in. You need to do a good job at staging so the potential will be standout.