A Property Data API is an important asset when it comes to addressing the Millennial generation.
By now, you are aware of all of the recent research suggesting that Millennials are about to make up the largest bloc of home buyers.
You also probably know that Millennials are a special generation: tech-savvy, innovative, progressive, and they do things a little differently than some of us are used to.
You need to adapt to their culture in order to catch the wave of this upcoming group of potential clients.
Here are our suggestions for attracting Millennials as a real estate agent.
Property Data API meets the research demands of Millennials
Millennials, or young adults currently in the 22-37 year age range, are more interested in research than any other age group.
They are savvy buyers, resistant to sales gimmicks, and will read up on the best ways to do things before they do them.
Millennials will read studies, journals, and blogs; watch YouTube videos, and Google local real estate options and trends before making a decision to take the next step forward.
As pioneers of the information age, they take research and knowledge seriously.
That’s a major reason why a Property Data API can set agents apart when working with this demographic.
They listen less and scan more. You need something for them to scan such as Recent Property Sales, Home Price Trends, School Data, Neighborhood Demographics, Boundaries, Crime Statistics, etc.
Millennials have a different outlook on real estate
Millennials are entering the real estate buying and selling markets prepared and backed up with plenty of research.
Here’s are a few reasons why.
For one, this is the generation that went through the housing debacle back in 2008. They saw the value of their parents’ homes take a nosedive. (And they are probably kicking themselves for not moving into a home sooner as home prices recovered).
Secondly, this big wave of the population all decided to buy at once. So much of the inventory in the starter home segment – $200,000, went fast.
Now many Millennials are now considering jumping past a starter home and into the next level.
They will need guidance from a professional.
You can help them see your value and have a fantastic experience by showing them what they cannot find on Google and YouTube.
Your local real estate data tools can show research that they haven’t seen yet, such as rising price trends in a certain neighborhood and how they compare to other neighborhoods.
Your experience also gives you a sharper insight into expected property value increases, and your guidance during stressful situations like home inspections or negotiating costs will be invaluable.
Ultimately, your skilled and educated presence along the way will provide what a search engine never could.
The back story: Millennials heavily utilize social media
Millennials are on social media not just for fun and entertainment, but also for work, information, and ultimately making their lives better.
Social media is now one of the best ways to ensure that your brand is put in front of the right people’s faces.
Additionally, almost all Millennials will ask their social media contacts where to find the best “everything” – including the best neighborhoods, best schools, and of course the best local real estate agent for their needs.
If you promote yourself on social media as the agent with not just hyper-local knowledge, but for Millennials, hyper-local data, then that person could be you.
You can utilize social media to the best advantage by building a story brand.
If your feed boasts an interesting and insightful niche (not just selling, but helpful info), you will gain more followers and start to get those coveted tags and mentions in those “looking for a Realtor” posts.
Showcasing beautiful home details on Instagram, using your local data to create colorful infographics on Facebook, and providing insight into who you are and why you do what you do are some key ways that you can build trust and a following that is mostly comprised of Millennial-aged buyers and sellers.
Don’t buy into any negative-sounding news articles about Millennials.
This age group is motivated, creative, sharp, and great to do business with if you can gain their trust by being authentic.
While they are the younger generation, they are now maturing, moving up into better-paying jobs, and thinking about starting families
And most importantly, they now realize the value of not paying those high rents any longer and instead investing that money into real estate – a home of their own.
Just like Millennials have embraced the latest technology, to address this group, agents need to embrace the latest technology as well. That includes tapping into the “Big Data” phenomenon.
A local agent on Main Street can now partner with a national data aggregator such as Home Junction and compete with the large real estate portals supported by Wall Street.
By embedding a Property Data API into their website (which basically means inserting a few lines of code), a broker or agent can tap into a well of hyper-local information.
They can disperse that data wherever they want on their website – next to listings, on a Community Page or even as a News Alert on their homepage.
That’s how an agent can become a true local resource in the 21st Century.
By providing an in-depth Property Data API on your website, creating an engaging brand story on social media, and painting a picture of the digital value you offer, you will be able to successfully build a reputation among young adults in your target market.