Millennial Home Buyers: What’s Attracting Them To The Market?
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Millennial Home Buyers: What’s Attracting Them to the Market?
Today, millennials are a major home buyer demographic. As more millennials look to buy homes and settle down, real estate agents need to fully grasp this generation’s needs to capitalize on the market potential of this demographic. The vast market potential that millennial home buyers herald is very exciting and should inspire agents to make attracting this demographic top on their list of priorities.
So, Who Are Millennial Home Buyers?
Millennial home buyers are the most extensive home buying force in the US real estate market currently. This demographic of home buyers is made up of the persons born between 1981 and 1997. They form a significant home buying demographic and represent the largest home buyer demographic in our country’s history. Some brokers and agents will tend to overlook millennial clients, but the forecasts point to a booming millennial real estate market. Millennials are quite particular about what they want. Thus, agents need to capitalize on the main things a typical millennial shops around for when searching for a home to buy, then embrace a good selling approach to entice these younger home buyers.
How Can Real Estate Agents Attract Millennial Home Buyers?
1. Millennials Are Looking for Convenience. Offer It.
Beginning with how you engage them as a real estate agent, the amenities offered by each listing they come across, to the home buyer add-ons available in the property market, millennials love convenience. Your real estate market acquaintance is indeed valuable when dealing with millennial clients with a whopping 89% of them saying they would transact via a real estate agent when buying a home.
No doubt about it, millennials love simplified and convenient services. As a real estate agent, you need to brush up on the efficiency of your service offerings to position yourself as a reliable service provider millennials can reach out to. Attracting more millennial clients requires agents to understand how they think, to always keep an eye on trends, and to adjust their selling techniques to resonate with these buyers.
2. Millennials Mostly Look for Listings Online. Tune Up Your Online Presence.
Let’s face it: most millennials grew up when the Internet and technology were becoming a hit. As a real estate agent looking to appeal to this tech-savvy demographic, you need to take your online marketing efforts a notch higher. For most millennial home buyers, the decision of buying a particular listed property comes after a thorough online search. To attract millennial clients, your online presence and your consistency in showcasing properties that are hot for this market demographic are key. Additionally, nine out of every 10 millennial buyers rely on online resources for home buying education. To attract these buyers to the market, you need a strong online presence.
3. Millennials Crave for Captivating Visuals. Use Them on Your Online Platforms.
Most millennial search is done using online visual content. Consequently, every agent needs to up their game in the digital space. Using fascinating visuals of listings on all your online marketing platforms will increase traffic, and thus lead to more conversions. While running such online marketing campaigns, you could also leverage high-quality videos and virtual house tours to attract younger home buyers. Giving them a feel of the magnificence and aesthetics they are looking for on all your online platforms and social media channels. The appeal that comes from lifestyle photos and videos taken on listed properties is enticing to this demographic, and thus attracts these types of buyers to your market.
4. Millennials Have a Soft Spot for Luxury and Style. Capitalize on It.
A top trend in the growing millennial home buyer market is the prioritization of luxury and style. Any real estate agent looking to capture the attention of this demographic and win them over will need to showcase a lavish lifestyle in the properties they are selling. Fascinate millennial clients and increase your chances of getting more conversions by displaying exceptional properties and showcasing the luxury and style of listings. By highlighting sophisticated outdoor living spaces, eye-catching courtyards, or even a swimming pool, you are attracting more millennials to the market.
5. Millennials Can’t Resist Reasonable Deals. Offer Them One.
One crucial fact agents need to remember is that millennial home buyers will look for alternate listings once they discover a home is out of their price range. If you are looking to attract more millennials, you have to get your pricing right by ensuring your prices rank within your local real estate market’s price range, and present buyers with multiple financing options to avoid losing their interest.
The Bottom Line
The home buying habits for millennials are unique. By leveraging these tips, everything will point towards an excellent future for real estate agents and brokers, and position them to attract more millennial buyers to their market.
Agent to Watch – Cory Cadle
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We’d like to introduce you to one of Novembers Agents to Watch, Cory Cadle! Cory’s main goal is finding his clients a safe place that they can make their own, and he does it all with a great sense of humor and a smile on his face. Read on to learn more about Cory!
Why did you choose to pursue a career in real estate?
What other industry can you help people secure a safe place to call home, as well as help them increase their long term wealth.
How do you think your clients would describe you?
Straight to the point, very punctual and loves to laugh
What is your motto?
Put others first and good things will happen
What is one thing people must do when they visit Sonoma County?
When in Wine Country, go Wine tasting!
What does a perfect day in Sonoma County look like for you?
80 degrees and by the water
What’s your favorite way to relax?
Go for a nice hike by Lake Sonoma or visit the local beaches
What’s your favorite local happy hour?
KIN
What’s your favorite local restaurant?
Starks Steakhouse
Agent to Watch – Elissa Morrash
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We’d like to introduce you to one of November’s Agents to Watch, Elissa Morrash! She is passionate about guiding her clients through their real estate journey and understands the importance of having a house to call your own. Read on to learn more about Elissa!
Why did you choose to pursue a career in real estate?
A house is not just a house, it’s a home. This has never been truer! As a real estate agent, i get to play a role in some of the most important moments in life. It is beyond gratifying for me to help someone buy a house, or sell their family home. Often, there’s been a significant event – a wedding, birth of a child, or something sad like divorce or death. I love being a part of that and knowing that I helped out at an important time. Real estate is about life – and I like that!
How do you think your clients would describe you?
Wow, well, let’s see. Probably as professional and smart. .Compassionate and understanding and is a good listener.. As a person who pushes to get results. I’ve been told I am a ‘no drama’ agent – which I think is great because there can be a lot of stress in real estate! Oh, and I’ve also been told and that I am fun to work with.
What is your motto?
I am an advocate for you. I am here to get you what you want.
What is something people might not guess about you?
I wrote and illustrated a book when I was 11. Of course, it never got published lol.
What is one thing people must do when they visit Sonoma County?
They should come in the off-season. It is beautiful here in the winter rain when the mist is over the vineyards and the wineries are warm and inviting.
What does a perfect day in Sonoma County look like for you?
A long luxurious picnic lunch at a winery, maybe doing a vertical or special tasting, with good friends and a knowledgeable vintner to tell us about the wines we are tasting.
What’s your favorite way to relax?
I love facials and massages. There are several great places in Sonoma County to book these services. And a glass of sparkling wine helps too!
What’s your favorite local happy hour?
Willli’s Seafood Bar in Healdsburg.
What’s your favorite local restaurant?
I live in Cloverdale and we have long balmy evenings. Many friends are foodies who shop locally and are great cooks. There are so many good restaurants here, but there’s nothing like a dinner on a deck at someone’s beautiful Sonoma County home!
Agent of the Month – David Hargreaves
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You may know him as the powerhouse writer behind Modern Living Sonoma, but now’s your chance to get to know him as one of W’s valued agents! It is our pleasure to introduce November’s Agent of the Month, David Hargreaves! Read on to learn more about David, his passion for Sonoma County, and a few of the key things he attributes to his success!
To what do you attribute your success?
Focus and Consistency. Right from the start I focused on a specific set of buyers (people re-locating, second home owners/buyer, vacation rental properties and people looking to build a dream home) and went out of my way to become as knowledgeable as I could be about that market.
What was the last book/audiobook you read/listened to?
The last book I read will mean nothing to everyone reading this as it was the biography of famous English cricketer! I am an avid podcast subscriber and love the Freakonomics podcast.
What software/tech tools can you not live without?
A big part of my success is being seen as an expert and providing valuable information through my blog www.modernlivingsonoma.com/blog. I use Placester.com to power my website which integrate with Mailchimp for delivering the content to my readers in a monthly newsletter.
Do you believe it is possible to have a successful career while having a fulfilling personal life? Does this balance exist?
I have to confess I need to work on this. I love travel which has been hard this year although I have now got a small RV that I use to escape into nature. My next step is to fit it with satellite internet so I can write an offer from the mountains!
What is a unique aspect of the Sonoma/Mendocino County/SF County Residential Real Estate market?
There are over 16,000 people who live in the Bay Area but own secondary properties in Sonoma County. With the exodus from the Bay Area due to Covid, I feel that the Sonoma County will continue to see a really strong demand from buyers migrating north for quite some time to come.
What is the most underrated/overlooked part of your business? (i.e. thank you cards, social media, etc)
For my first year in business I put a lot of effort into my blog with very little reward. However now the hard work is starting to pay off with a number of my blog posts now ranking on the first page of Google (for example “vacation rental rules in Sonoma County”). I now have over 2000 readers per month reading articles so this is becoming a very valuable source of leads.
What are the main things that you should look at when investing/purchasing a new property?
For me it is all about the floor plan and location. If you are looking for a classic wine country property if you have the location and floor plan that works, you can create the property of your dreams.
What is a quote that inspires you?
“Innovate or Die”. This is a quote from Andy Grove, the founder and CEO of Intel, the microprocessor company.
If you had one piece of advice to give someone just starting out in real estate, what would it be?
Focus. Doing a small number of things well and doing them consistently will pay dividends. The worst thing you can do is do lots of things half heartedly.
Q3 10 Points Award Announcement
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Agents of the Month – Doug Del Fava & Shannon Parker
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It is our pleasure to introduce October’s Agents of the Month, Doug Del Fava and Shannon Parker! The dynamic team pride themselves on their real estate knowledge, as well as their ability to work together to boost up each others skill sets, and to work hard for each of their clients. Keep reading to learn more about Doug and Shannon, and just what makes them such a powerful duo!
To what do you attribute your success?
Shannon and I pride ourselves in great communication, excellent negotiating/problem-solving and a consistent follow-up. Our clients our are family and we pride ourselves on maintaining our client base. I would estimate that around 50% or more of our business are referrals from previous clients.
What was the last book/audiobook you read/listened to?
What software/tech tools can you not live without?
Do you believe it is possible to have a successful career while having a fulfilling personal life? Does this balance exist?
Shannon and I both make time for activities and a life outside of work. My balances come from my passion of being a musician for over 50 years and a regular round of golf with friends. Shannon usually finds herself with another new home project to keep her busy. We feel it is very important to find a harmonious balance between your work life and finding time for yourself, your family, your relationships.
What is a unique aspect of the Sonoma/Mendocino County/SF County Residential Real Estate market?
The proximity and accessibility to the greater Bay Area makes Sonoma County very unique and desirable. The various types of properties available in the North Bay offer buyers every aspect of real estate to choose from.
What is the most underrated/overlooked part of your business? (i.e. thank you cards, social media, etc)
What are the main things that you should look at when investing/purchasing a new property?
What is a quote that inspires you?
If you had one piece of advice to give someone just starting out in real estate, what would it be?
My advice to new agents would be to align yourself with an experienced agent/mentor and attend as many seminars and conferences as possible. This can help you get acclimated in the industry. A lot of this business is experience and learning the ropes. Ask questions and try to absorb all the information you can.
Agent to Watch – Denise Horner
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We’d like to introduce you to one of October’s Agents to Watch, Denise Horner! She is passionate about making her clients dreams of owning their own home come true, while always making sure to take time to enjoy all of what Sonoma County has to offer. Read on to learn more about Denise!
Why did you choose to pursue a career in real estate?
How do you think your clients would describe you?
What is your motto?
What is one thing people must do when they visit Sonoma County?
What does a perfect day in Sonoma County look like for you?
What’s your favorite way to relax?
What’s your favorite local happy hour?
What’s your favorite local restaurant?
Agent to Watch – Taylor Mason
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Introducing one of Octobers Agents to Watch, Taylor Mason! Taylor originally moved to Sonoma County for school, and after completing his degree he decided to combine his knowledge of energy efficient living with making prospective homeowners dreams a reality. Read on to find out more about Taylor and his passion for real estate!
Why did you choose to pursue a career in real estate?
How do you think your clients would describe you?
Calm, honest, caring and straight up.
What is your motto?
My goal is your goal.
What is one thing people must do when they visit Sonoma County?
Do some wine tasting.
What does a perfect day in Sonoma County look like for you?
80 degrees, clear skies.
What’s your favorite way to relax?
Go for a motorcycle ride or go to the beach.
What’s your favorite local happy hour?
Crooked Goat.
What’s your favorite local restaurant?
Taco truck in Roseland.
North Bay – “Best Of”
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Agent to Watch – Donna Bennett
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In this month’s Agent to Watch, we are excited to feature Donna Bennett! Donna has been active in the Sonoma County real estate market since she was a teenager, and she is always ready to share her knowledge with her clients to elevate their experience. Donna is extremely proud of her three children, and she attributes raising them in Sonoma County to helping her deepen her ties with her community. When she isn’t working or volunteering, Donna enjoys spending time with her family and friends, traveling, hiking, and being out on her boat on Lake Sonoma. Continue reading to learn more about Donna.
Why did you choose to pursue a career in real estate?
I had excellent mentors early in life. Their advice and guidance greatly contributed to my current real estate successes and endeavors. I chose this path to help others to build their real estate portfolio, just as I have.
How do you think your clients would describe you?
I strive to be as accessible and thorough as possible with my clients. I feel they would agree in describing me as such. In addition, I have been complimented on my honesty, integrity, reliability, and quick response time.
What is your motto?
I know how stressful the real estate game can be. Whether you are a buyer or seller, my motto has always been to strive for an enjoyable process. This should be an exciting transition in your life, not a stressful one!
What is something most people would never guess about you?
The age at which I purchased my first piece of real estate always seems to shock clients. I was only 19 years old!
What is one thing people must do when they visit Sonoma County?
Sonoma County is known for its beautiful wineries and landscape. There are excellent tours and tastings available to our wine lovers. I highly recommend driving the coastal highway, with its gorgeous views. For more sightseeing from a different perspective, the wine country hot air balloon ride is a must-see! My recommendations for families include the Charles Schultz Museum, Safari West, and summer nights on the Windsor Town Green.
What does a perfect day in Sonoma County look like for you?
My perfect Sonoma County day would definitely start at the local farmer’s market on the Windsor Town Green. Coffee as I browse, then head to the Foothill Regional Park for an afternoon hike. I love shopping in the Healdsburg town square. The local boutique shops have something for everyone. To finish, dinner at Campo Fina. They have an outdoor bocce court that makes for a perfect end to the day!
What’s your favorite way to relax?
It isn’t easy choosing just one, but my favorite place to relax is Lake Sonoma. My family spent time on the lake when I was growing up. It has now become a fun and relaxing place to spend time with friends!
What’s your favorite local happy hour?
For happy hour, my first choice is usually John Ash in Santa Rosa.
What’s your favorite local restaurant?
My favorite restaurant is Campo Fina, located in Healdsburg. As I mentioned before, they have a beautiful outdoor patio and bocce court.
