Millennials move the world. More than 83 million Americans are millennials, making up more than one-quarter of the country. 

The common image of the millennial is a young, snarky person connected to their cell phone. But the reality is far more complicated than that. If you want to grow your client base, you need to know some facts about millennials. 

What are their concerns and ideals, especially in real estate? How should you break the ice with them? What can you do to keep them as clients long-term? 

Answer these questions and you can form deep relationships with millennials. Here is your guide. 

Understanding Millennials 

The Pew Research Center defines a millennial as anyone born between 1981 and 1996. Other organizations, like the United States Census Bureau, agree with this definition, but there is no official one. 

You may think of millennials as children. But they are currently aged 25 to 40. 

The ones who have not moved out of their parents' houses are preparing to do so. 55% of millennial women have given birth. They are looking for a home to raise their family and entertain many guests. 

Their Buying Habits

Millennials have some unique buying habits. Many people know about how millennials use the Internet to make buying decisions. It is true that most of them go online and research properties before buying one. 

But the buying habits of millennials are more complicated than that. The starting salaries of millennials are twenty percent less than those of Baby Boomers. The average millennial has a net worth of 8,000 dollars. 

This has several ramifications for the real estate space. Most millennials remain at home with their parents for longer periods of time.

Most do not buy a house right off the bat. Rather, they ten to move into an apartment with roommates or their boyfriend or girlfriend. When they buy a property, they rely on a mortgage or loan. This makes affordability essential for them.

Smaller properties are naturally less expensive than larger ones, so millennials opt for them. The pandemic has prompted some people with wealth to buy bigger homes, but this is not a widespread trend. 

Millennials grew up during the Great Recession. This encourages many of them to save money and conserve their resources. Most plan on staying in whatever home they buy for years. 

They comprise a range of learning techniques. A 2018 study of millennial college students found that 35% identified as hands-on learners. Only 24% said they learned through visuals.  

Their Beliefs 

Millennials are passionate about a range of issues. They care about climate change and socioeconomic justice. They want to work with people who believe in those causes and further them in some way. 

In addition to politics, they care about their communities. One of the prominent millennial housing trends is a focus on the community as a housing amenity.

Millennials want walkable neighborhoods and close proximity to urban areas. They want outdoor patios and fitness rooms on their property. Many office spaces with millennial workers contain communal workspaces. 

Most millennials are informal. They break the ice through social media or email contact instead of through face-to-face conversations. 

While many of them respect authority, they are wary of powerful people. They believe in clear boundaries and decry abuses of power, especially xenophobia and sexual harassment. They want people to be transparent with them and aware of their concerns. 

Keep in mind that millennials are a very diverse group. Not all of them believe the same things or express themselves in the same ways. Any categorization of their beliefs will be sweeping, so adjust your approach depending on who you encounter.

Forming a Marketing Strategy 

As you can imagine, a marketing strategy for millennials is reliant on the Internet. If you have not done so already, create a website that advertises your services. Include a page that describes your own experience and interest in real estate. 

Your website should have your own blog. Before your website goes up, write at least three blog posts, including one that is 1,000 words long. Follow good SEO practices in your website content as well. 

Your posts do not have to be elaborate. Many millennials like top-ten lists and how-to guides. Write about real estate websites they should visit and how they should look for houses. 

Include photographs and videos detailing what you are talking about. Whenever possible, make your own videos. A simple webcam video explaining a real estate concept can make you seem very authentic. 

You should go on social media, especially Facebook and Twitter. Post daily on Twitter and weekly on Facebook. 

Try to post an even mix of real estate and local community content. Share articles about real estate, but make sure to offer your own thoughts. 

If something important is happening in your area, share an article about it. Encouraging people to go to an event is a great means of outreach. 

Building Relationships With Millennials 

When introducing yourself, be casual and use humor when appropriate. You can reach out to millennials through social media, but face-to-face interactions can be powerful. 

However you break the ice, you want to make an emotional connection with your potential clients. You can talk about important political issues that matter to both of you. 

But what would work better is to promote your issues through your services. If you care about the environment, provide services that produce less waste than your competitors. Employ people from disenfranchised communities, including intersectional people. 

Give plenty of room to let your potential clients talk. Get a sense of what their unique interests are and have a conversation with them about those interests. 

You can keep things short. A few short emails may grab their attention better than one long one. Many millennials receive multiple emails at once, so they skim through what they get.  

But do make sure to provide information about what properties you have. The more specific you are, the more your potential clients will trust you. 

When you schedule a tour or open house, make sure to send out reminders. Millennials may forget given how many emails and social media posts they receive. 

Use the Internet intelligently. Do not post memes or jokes that are popular amongst millennials. Though this may show your sense of humor, it can come across as pandering. 

Build a website that millennials can use easily. Supply clear photographs and videos so visual learners understand how your properties are.

Having Millennials as Clients 

Once you have signed millennials as clients, prepare a list of properties for them. Prioritize affordability, then amenities. Make sure your clients are getting bang for their buck. 

Have at least two backups. One of those backups should be in a different neighborhood from the other two. One of the backups should also have different amenities, which can include a different layout. 

Give millennials time to walk through a property. You should point out key rooms and features. But provide them with the chance to see for themselves how the space is. 

Do talk with your clients about the neighborhood. Tell them where the stores, offices, and schools are located in conjunction to the house. If you have some time, let them walk through the neighborhood so they can get an idea of what it is like. 

If your clients do not like the property, hear where their concerns are. Go to the backup that meets their concerns. Repeat the process over, giving them plenty of time to see the property for themselves. 

Your clients will probably not want to sign onto a property right away. They may want to go home and do some more research.

If that is the case, prepare some research documents for them. Give them information on the neighborhood's political scene.

Keep in touch with them, but only follow up when it feels appropriate. If you push a sale too hard, your clients may feel like you are being excessive. 

When they are ready to sign to a property, start the process right away. Be absolutely clear about what the costs will be. Give them a copy of everything they sign and tell them how they should keep things organized. 

The Essential Facts About Millennials 

You can grow your client pool once you know facts about millennials. They do not have much money to spend, but they care about important issues and want the people they work with to further them. 

Rely on the Internet to market to them. Engage in them in sociopolitical conversations and show how you use your services to create good. 

Millennials are hands-on learners, so give them time to tour properties and neighborhoods. Be transparent and give them clear information about everything. 

Connect yourself with real estate experts. Hommati provides a variety of tools for examining houses. Contact us today.