Real Estate Marketing for Millennials

Pew Research says that millennials are just about to surpass the Baby Boomers as the largest living adult generation.  Here's why--and how--it affects your real estate marketing strategies. 

Millennials are defined as those born between 1981 and 1996. The upper end of the generation is reasonably established in their career, and nearly all need a home to lease or purchase. However, here's where millennials differ the most from previous generations: they're much more into the sharing economy, or using vs. purchasing. Look to the popularity of Uber and Lyft, for example, or the ability to Rent the Runway.   Additionally, the average credit score for this generation is fairly low--about 625--so they must qualify for more flexible, FHA-insured mortgage rates. However, despite all of this, 32% of homes are being purchased by millennials.

How Real Estate Marketing Reaches This Generation

Real Estate Express offers these helpful tidbits on how to reach this market most effectively: 

  • Millennials prefer social media and texting for communication - but 75% would prefer that their real estate agent contact them by phone. 
  • Over 90% of millennials rely on the Internet to find and communicate real estate opportunities.
  • While they know they can find the answers to practically anything online, 87% eventually seek out advice from real estate agents

This generation grew up with technology. Maybe not smart phones, but definitely in the era of the home desktop computer and a gaggle of gaming systems. When it comes to real estate marketing, target them on their favorite networks. 

As a real estate agent, you're in charge of a lot when it comes to connecting with prospective buyers and sellers. One way to connect with millennials is to create shareable content. This can be videos, blog posts, infographics, etc that are posted on social media. These types of content of should be "bite-sized," meaning they're easily consumable in a short period. No one wants to watch a 10 minute tour of a house on a shaky iPhone. Create quick cuts of highlights. Or create a slideshow on Instagram. Play with mediums and styles to figure out what works for you and your audience. 

Once you've hooked your millennial customer, remember that this generation relies heavily on the recommendations of their peer group. Take this opportunity to create a unique closing gift using Sunrise Package's custom packaging options. Like the FlashPad Wallet. Or any of our other innovative packaging solutions - just remember to slide your business card inside!

FlashPad Wallets: The Perfect Closing Gift

Okay, let me rephrase: FlashPad Wallets make the perfect closing gift *holder*.

Giving clients a gift at closing as a realtor sounds like a great idea. Who doesn’t like presents, for one, and a gift is a great way to express your appreciation for their business. It’s also a delicate way to ask for a referral (directly or indirectly, depending on your style). However, there are ample opportunities for the sweet gesture to go awry as RealtorMag describes.

For example, a set of crystal wine glasses sounds lovely. Unless they’re emblazoned with your company’s logo, in which case it’s really just a present for you, right? And what if they choose not to drink alcohol? Yes, we know that wine glasses don’t have to be used for wine, but it’s the implication as well as the lack of personalization that offends.  

So how does one come up with a gift that’s personal (but not too personal), won’t offend in any way, leaves a positive impression and reinforces your chance of a referral?

FlashPad Wallets can hold gift cards or USB Drives

FlashPad Wallets to the rescue

FlashPad Wallets are a new take on our classic FlashPad. They are smaller, lighter, and more portable.  The Wallet snaps shut and opens like a bifold wallet (hence the name...and it also possible to purchase as a trifold for more content). The inner and outer areas are completely customizable to whatever logo and messaging you want to share. While the package might become a keepsake for your client, what’s inside will catch their eye.

As RealtorMag notes, there’s one gift that everyone appreciates: money. It’s a tad gauche to fill it with cash, not to mention impersonal, so select a gift card that meets their needs. You’ve spent a substantial amount of time with them, so think back to conversations with them. Are they planning on buying new furniture? Do they love Starbucks or some other item? Does their new house have a lot of shelves that need to be filled with books? The opportunities are endless. The finishing options for FlashPad Wallets also allow for you to write a personalized message while the preprinted packaging does the selling for you.

Another option for the Wallet is a USB drive to be filled with whatever materials you share with clients. Information about their new neighborhood, any closing documents that can be saved digitally...whatever you can think of. I love the key-shaped USB for this idea; it’s a nice touch without being too cutesy. 

Regardless of how you choose to bookend the relationship, your client will probably remember you more for how you worked with them than the closing gift. Use the gift to build your reputation and connect with clients on a deeper level. And let the FlashPad Wallet remind them of where to send referrals.