How the Real Estate Industry Should Target Millennials
According to a recent study Millenials are thosewho were born between 1981 to 1996. Many young professionals today are from that generation, which means that they’re the main audience of residential and commercial real estate listings today.
Because this generation is now starting to own homes and businesses, it’s vital for the real estate industry to appeal to them better. This requires an entirely different approach, as they’re nothing like the Baby Boomers.
Some Millennials might be willing to conform to traditions when it comes to buying or leasing a property. It doesn’t mean, however, that what appealed to their parents will appeal to them, too. This is why real estate professionals are now trying to learn new ways to tickle their fancy.
This is particularly true for commercial listings. This area of the real estate industry has barely kept up with the times due to the formal nature of business transactions. While formal still translates to professional, this doesn’t mean that Millennials find uptight and characterless listings attractive. With the more laidback and creative nature of startups, it should be expected that they’ll gravitate towards listings that will be more accommodating of how they roll.
All of these might seem challenging for seasoned real estate professionals but it’s not entirely impossible to do. You just need to know what Millennials want in order to grab their attention and get them interested in your property.
So, what are the things they want? Here are two that can help you shape a Millennial-friendly commercial real estate listing.
Instant Access to Information
It’s no secret that Millennials are practically glued to the internet using their phones and other devices. And as the world wide web provides immediate access to just about any tidbit on practically any topic, these folks are used to having information right at their fingertips.
This is why it’s important to provide every pertinent detail in your listings if you want them to give your property a shot. Some listings only include a photo of the facade, a few shots of the interiors, and measurements but these won’t do.
To make your listing more attractive, you should offer more details about the property. Include various snapshots of the unit and the property’s history and background. These will help engage your target audience better.
Informative Entertainment
If you want to go all out and really draw the young crowd in, producing entertaining content also works wonders. A quick online search will give you a number of examples of this, so you can get a good idea how people are getting even more creative in selling properties.
With so many distractions that you need to compete with, though, grabbing the attention of your target market can be a challenge. Entertaining them is a great way to catch their eye and getting them engaged, so aiming for this is a must. Combine it with information and you might bag yourself a deal.
Marketing videos are some of the most popular examples of this method. There has been lots of video ads for various properties that captured the attention of the general public. The best part is that you can opt for just about any kind of production in this area. As long as it’s both entertaining and informative, you can find interested parties knocking at your door.
What Works?
If you’re going to up your game and target the Millennials, you can focus on learning a few things to streamline your efforts. These should include:
- Using social media because these people hardly ever log out from these things. They’re essential socialization tools. They also use it for both personal and professional purposes, so you can definitely find young professionals interested in commercial real estate in these websites.
- Using new technologies like Virtual Reality, live streaming, as well as video and 360 tours. These have proven to be useful for lots of groundbreaking experts, so they can be worth a shot.
Tap a growing audience with the help of these bits of information and find yourself edging the competition by a mile.
