Marketing Homes to Millennials – Tips from a Real Estate Agent
From Ted Talks to news programs to the New York Times, everyone is talking about millennials – and for understandable reasons. Millennials, persons born between 1980 and 2000, now number roughly 83.1 million and make up a quarter of the U.S. population. Millennials are soon to be the largest generation in the workforce. They are beginning to make their way into media, politics, and entrepreneurship.
As millennials have begun to carve out their place in the economy, they have also become dominant players in the real estate market. While each individual is different, a good real estate agent recognizes that there are certain trends in the millennial market. Home sellers will sell their home more rapidly if they take note of these trends and demands. The Brian Burds Home Selling Team is ready to help! Here are a few important things to note when attempting to market your home to millennials.
Millennials Take the Lead
According to a 2016 study of generational housing trends performed by the National Association of Realtors, millennials are now a dominant force in the housing market. While Generation X makes up roughly 27 percent of the housing market, millennials have taken the lead at 35 percent. This is important information to consider, especially given the many millennials that still live with their parents and will enter the real estate market in the next several years.
Selling Homes to Millennials
Many millennials lead active and highly stimulating lives, and they are less inclined to want a home that requires a lot of maintenance. For this reason, homes with newer features and smaller to-do lists tend to grab the millennial eye. Location is also a huge factor for young home buyers. Most millennials want to have easy access to restaurants, shopping, public transportation, and nature – all at once.
According to current U.S. Census data, more than 13 million Americans work from home. Many of these Americans are millennials who enjoy the benefits of a mobile and technology based lifestyle. Because of this, houses that offer home offices are particularly attractive to young home buyers. To appease the work-from-home demographic, home sellers should set up their home in a way that demonstrates its capacity for an at-home office. Speaking of technology, millennial home buyers are looking for a home that has good cell phone and internet service. While a home seller cannot necessarily control those factors, they should be aware that the question is likely to come up in conversation.
Effective Marketing with an Experienced Real Estate Agent
When it comes to marketing a home to millennials (or any demographic!), it is helpful to have an experienced and knowledgeable real estate agent on your team. Brian Burds is a skilled real estate agent in the El Paso area. He specializes in helping homeowners sell their places of residence with ease. Selling a home often begins with good marketing, so contact The Brian Burds Home Selling Team to learn more about effective marketing techniques!