Page 45 - Five Point - Denver 2019

2. POSITION YOURSELF AS A
KNOWLEDGE BROKER
Although they are the online generation, millennials want to purchase a home from a real estate agent — not an online buying forum. Why? Because millennials, more than any other generation, value expertise and are hungry for advice.
They want to be educated about lending options, hidden costs, upkeep burdens, insurance costs and what constitutes a good value or resale. Underestimating the hidden costs associated with buying and owning
a home, including the ongoing responsibilities of maintaining it, is the No. 1 millennial homeowner frustration. They want to go into homeownership with eyes wide open, and they want you to get them there.
3.SPIFF UP YOUR WEBSITE
Millennials will check
you out online before hiring you. They’ll look for designations, testimonials, awards and blog posts,
so it is important to build a website where you can show off your knowledge.
4. CALM THE WATERS
Unlike any other generation, millennials have huge anxieties around homebuying. They are concerned they won’t have enough money to pay for a down payment or to keep up with rising interest rates, especially in the specific locations they desire to live. Millennials want a real estate agent who assures them that they will find the right home in their price range and don’t need to panic.
5. PREPARE TO SELL
SIMULTANEOUSLY TO TWO GENERATIONS
Millennials often need help from their parents
for the down payment. Despite having a median income of $82,000, they are also saddled with a median student loan debt of $25,000. When they are ready to decide between finalist homes, millennials often bring their parents. Understand from the start that you may be selling to both generations.
Get ready to embrace the new millennial homebuyers.
Don’t think that millennials need homes at the bottom of the price range because of their finances and age. Larger, single-family homes with room for entertaining are a favorite, with 30% of millennials buying homes for $300,000 this year.
THE AVERAGE IDEAL HOME SIZE IS JUST UNDER 2,500 SQUARE FEET.
Selling to millennials can be fun!
Millennials are smart shoppers who will respect your knowledge, and they are not impulse buyers. They will have studied
the market and your online presence. They
are educated, serious buyers who will be loyal
if you demonstrate the value of your insight and experience.
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