There’s no better time than ever for first time homebuyers to purchase a home! With interest rates at an all time low, millennials are a key market to reach. While the process may be overwhelming, a trusted real estate professional is important to have while taking that journey. If you are equipped with the key assets they look for in a home and an agent, you’re on your way to a seamless transaction and life-time relationship!
In order to broaden your sphere of potential clients, it’s important to adapt to your audience. For this week’s tips, we're sharing 7 tips for selling to millennial first time homebuyers.
First-Time Buyers 101
#1 Connect digitally
Millennials rely heavily on technology to communicate, do transactions, and view potential homes. Make sure that you are up to date on leading mobile apps, virtual tours, and e-signature apps. These tools are familiar assets that will help your potential buyer feel at ease.
#2 Disclose financials upfront
Making your first big investment is a huge decision. With many millennials seeking help from family, ensure that any extra expenses are disclosed upfront. This can prevent any conflict or distrust throughout the working relationship.
#3 Show move-in ready homes
Unlike previous generations, first time homebuyers are less drawn to large renovation projects. With job changes and a transit lifestyle, these buyers are looking to save time and potentially upgrade in the coming years.
#4 Choose homes with strong Wifi
With many millennials working and socializing digitally, strong Wifi is a must. These buyers are less likely to choose a home with poor signal if it disrupts their daily routines. To find a fix, recommend an extender or booster to offset the poor signal.
#5 Sell the integrated life
Work-life balance is high priority for millennials. If they can maintain their social life close to home, even better! When house hunting in urban or suburban areas, search for homes that are easily accessible or walkable to local attractions.
#6 Mention eco-friendly home features
A trend towards sustainability has grown since millennials have taken a conscious decision towards green living. Not only is it good for the environment, but can have cost saving benefits, too!
#7 Prepare for questions
Millennials tend to be tech-savvy, educated individuals. With the internet readily available, they can research and house hunt independently. Be prepared to answer lots of questions and provide guidance. Your experience is priceless when it comes to navigating the home buying journey.