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How to Attract Millennial Home Buyers Online

By
Services for Real Estate Pros with TORCHx by Web.com

Are You Hoping to Capture Millennial Homebuyers as Customers?


Smart move. Millennials are the biggest generation in U.S. history, even surpassing baby boomers in numbers. Already, they make up 34 percent of all homebuyers—and as they get older, make more money and start families, that figure will grow. In fact, Census Bureau data projects household formation will average about 1.5 million per year through 2020.

To attract millennial home buyers to do business with you, it’s important to understand three things: how millennials look for homes, what they want in their homes, and what they want to see on real estate websites.

How Do Millennials Find Homes?
The millennial home search begins online. According to the National Association of REALTORS®(NAR), some 93 percent of millennial homebuyers “frequently” use the internet when searching for homes. More than half of millennial homebuyers find the home they ultimately purchase online. NAR also reports:

  • 99 percent of millennial homebuyers use online websites to look for homes;

  • 86 percent of millennial homebuyers use a mobile website or app in their search process; and

  • 58 percent of millennial homebuyers find their home through mobile search.


In short, get the attention of millennial homebuyers with an appealing website that’s equally attractive on desktop and mobile devices.


What Do Millennials Want in a Home?

Millennials want different things than their parents or older siblings want from a home. Here’s what a recent survey found:

  • Technology: New appliances are the single most important feature millennials look for in a home, cited by 75 percent of respondents. Almost half (47 percent) want solar panels or other energy-storage features, while 38 percent want smart home systems.

  • Space: Millennials don’t need the biggest lot on the block (less than one-fourth want one acre-plus properties); however, they do like plenty of space inside the home. Sixty-two percent want a big master bedroom, 54 percent want a two-car garage, and 41 percent want a finished basement.

  • Luxury: Luxury outdoor upgrades such as outdoor Jacuzzis or three-car garages aren’t high on millennials’ priority lists; however, almost half want a luxury kitchen and hardwood or stone flooring.

It’s important to include all details in your listings, but focus first on those that matter most to millennials. Highlighting key features in your listings and using them as keywords on your website will boost your SEO.


What Do Millennials Want to See on Real Estate Websites?

Driving millennial homebuyers to your real estate website is only the first step. You’ve also got to make sure your website contains the content they look for when searching for a home. A whopping 91 percent of millennials surveyed by NAR say photos are the most important feature on a real estate website. Accordingly, make sure your website has plenty of appealing photos of available homes from all possible angles (the more, the better).

Almost as important as photos is detailed property information, cited by 88 percent of millennials. Accordingly, your real estate website must be regularly updated with property data. Once a day is OK, once an hour is better—but having this content update in real-time is ideal.

Finally, neighborhood information is important to nearly half of millennial homebuyers. Creating landing pages for every city, county and neighborhood in your MLS can address this need, as long as the landing pages are filled with market statistics, images of the local area, and local school information. Again—having this content automatically update is key to prospect engagement.

Home, Sweet Home
Taking the time to understand what millennial homebuyers want from a home and how they search for homes can pay off big in attracting millennial homebuying prospects, but how can you capitalize on this information? TORCHx is a great option—their best-in-class websites are designed to attract this group through mobile and SEO-optimized property pages that automatically update with content millennials look for.

Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I will add that having a professional online profile is also important to attract buyers/sellers of any age

Nov 13, 2017 11:41 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks Jesse, so many of us are working hard to determine how to market to this group.

 

Nov 15, 2017 11:36 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Welcome to Active Rain, looking forward to reading many more of your posts, let me know if there is anything that I can do to help as you get started here.
All the best of success to you.
Bob

Nov 15, 2017 11:36 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Excellent post ! No Old School (print media and Homes Mags)for these folks !!!

Nov 21, 2017 04:31 AM
Kim Knights
RE/MAX Bay to Bay - Tampa, FL

It’s interesting that some sellers still want agents to advise in Home mags. Not a good use is $$ in this day and age.

Nov 21, 2017 05:51 AM
Gordon Crawford
Gordon Crawford Home Selling Team - Morristown, NJ
Your Morris County Specialist!

Great post Jesse and I think you are spot on!  Millennials are a different breed and you need to cater your marketing to them.  

Nov 21, 2017 07:51 AM
Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

Thanks! Great advice. I say be as virtual as possible.

Nov 21, 2017 03:19 PM
Delphine Nguyen
Baird & Warner - Northbrook, IL

Speed is important while working with millenniums. They expect an answer quick either via text or email just like you said about technology.

Nov 21, 2017 11:09 PM
Nancy Robinson Ranked #6 in MI
Century 21 Town and Country - Royal Oak, MI
#11 Century21 Realtor in the US, #16 in the World

Nice post.  Thank you!  Love the tip on creating landing pages,

Dec 05, 2017 03:14 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

All the age groups want video to save time, to show and tell using two senses or more. Landing pages are key!

Dec 05, 2017 04:29 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jesse Friedman ,

So glad to see this post featured..excellent tips on attracting Millennial buyers. Welcome to Active Rain I just subscribed to your blog and looking forward to reading more posts from you. 

Dec 05, 2017 05:06 AM
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Jesse, the large spacious kitchen is a surprise to me but not the stone and hardwood.

Dec 05, 2017 11:21 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Interesting post to consider.  Thank you for sharing the information.  

Dec 05, 2017 12:51 PM
Michael Eisenberg
eXp Realty - Bellingham, WA
Bellingham Real Estate Guy

Great to have some insight into the millennial buyer and what they are looking for

Dec 05, 2017 04:08 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

This is one of those lists I have to come back to you later, but I definitely will! :)

Dec 05, 2017 09:53 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Yes,
it’s great to have insight into your buyers in general. You definitely know your craft and your clientele very well!

Dec 05, 2017 09:55 PM
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

This is great advice and great information. Millenials are unique and, as such, need to be tailored toward. Thanks for sharing!

Dec 08, 2017 08:26 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It’s better to mix it up with millennial’s and have multiple forms of social media that way.

Dec 08, 2017 09:27 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Every generation has its own kind of speech pattern in a way that’s really unique to them, I agree. Corey Martin

Dec 08, 2017 09:28 PM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Interesting that so many of them want solar panels.  That's a good sign!

Apr 28, 2018 07:37 PM