Meet the next generation of home buyers: millennials

Informative, trendy and Insta-savvy brokers step this way

New York /
Jan.January 28, 2018 12:00 PM

Styled living room. (Credit all: Pixabay)

Millennials are officially home-buying age and, with the cash to back up their aspirations, they’re expecting to be swept off their feet.

So how to reach this new cohort of buyers who were responsible for more than a third of American home purchases between July 2015 and June 2016? Well, a great Instagram account is a good start, but it won’t seal the deal.

“Millennials need to see themselves living there,” New York broker Dolly Lenz told Mansion Global. “They’re more about an experience than anything else.”

These experiences could range from a showing featuring catering by a local coffeehouse or restaurant, an impromptu fashion show or a salon-style get-together populated by groups of presumably smart and cultured potential buyers.

“We try to bring together an interesting group of people, so that even if they don’t buy in this development, we’re in contact with them afterwards,” explained Ziegert Bank and Real Estate Consulting’s Dorothea Metasch.

Brokers should also be ready to get quizzed.

“Millennials ask amazing questions,” Kuper Sotheby’s International Realty’s Brennan Stravlo told Mansion Global. “They want to know everything about a property before they make a decision.”

But perhaps the best way to attract and win over millennial buyers is hiring millennials to make the sale, because as one broker, who is himself a millennial, said, “we understand their fears, their concerns and their must-haves.”

[Mansion Global]Erin Hudson


Related Articles

arrow_forward_ios
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...