How to Capture This Exploding Phase of the Market

Want to establish a foothold in the biggest -and still growing- segment of the market?

According to the N.A.R. Millenials currently make up 31% of all home buyers and they are set to grow substantially over the next 10 years.

More importantly, the “Google Generation” (aka me) is changing the way that we sell homes…

Here are 4 implications to consider when serving these folks:

1. They live on their smartphone and they do their homework! They don’t like to ask uncomfortable questions in person or over the phone, especially if they can find the answer online.

If you aren’t helping them ease concerns BEFORE they call, who is, and are they getting the business instead of you? 

2. They are frugal and careful decision makers. They want to understand what’s going on at any time in the process more than any generation, and they want to know about it NOW.

If they don’t know what’s coming around the corner, it could cause paralysis when they get there.

3. They like “explainer” type resources: timelines, checklists, videos and charts.

Referring to a 1-minute video to clarify a concern is a lot easier than remembering all that happened on a phone call or in a meeting.  Thus the reason “7 Steps To Funded” exists

 4. When choosing a professional, they seek recommendations, and then vet those recommendations via online reviews before they ever call.

Do you have a “social proof” acquisition and distribution strategy?

Yes, the list can go on and on, but the important concept is the psychological shift away from wanting to meet in person or pick up the phone and calling.

It’s nothing personal; it just is what it is.

From a competitive standpoint, this shift offers big opportunity in systematically providing easily consumable content pieces (short videos, infographics, etc.) that are delivered at the right time to anticipate common questions and provide answers throughout the home buying process.

It might sound like a lot, (which is why we have done it for you) but, in the end, it means a lot less uncertainty, fewer voicemails, fewer phone calls, and less time wasted by you.

…Not to mention a more consistent experience for consumers.

Have questions or comments about serving Millenials?  Comment below and let me know your thoughts!

 

 

Sources:

http://money.usnews.com/money/personal-finance/slideshows/10-ways-millennials-are-changing-homebuying/1

http://www.pointdrive.com/real-estate/millennial-real-estate-buying-habits-how-millennials-are-changing-the-way-people-buy-home

 

 

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