MILLENNIAL BUYERS

Where They Are & What to Know

Homebuyers and sellers come from all walks of life. If you’ve been an agent for long, you’ve likely worked alongside a wide variety of folks—from first-timer homeowners and down-sizers, to second home searchers and those finally hunting for their dream home. While there is hardly a shortage of diversity in the housing market, there is one generation that is making big strides in homeownership these days: Millennials.

Millennials can be loosely defined as those between the ages of twenty-two to thirtyseven. As you can see, this constitutes a wide swathe of the population. If you’re an agent who stands to learn a bit more about

a demographic whose influence and homeownership goals are rapidly evolving, tune in below for a few pointers that can help you expand a segment of your clientele in the process.

Where do Millennials prefer to buy?

Many Millennials came of age during or immediately following the Great Recession, and as such, many of them relocated or returned to mid-size cities and smaller communities where the cost of living was most affordable. Of course, there are countless Millennials that call the U.S.’s major cities home—especially those in the tech industry. The good news is that you can court Millennial clientele no matter where you service area is located. That said, community amenities are of great importance to this generation. They value public transportation, green space, and entertainment—from coffee shops and topnotch restaurants to farmer’s markets and boutiques. Emphasizing those attributes will be key in selling to Millennials and locating neighborhoods they’re most interested in.

What sort of communication do Millennials prefer?

Most Millennials are digital natives, or close to. That means they grew up learning

how to navigate digital spaces, and prefer to communicate through mediums like email, text, and social media. This isn’t to say that Millennials aren’t good communicators, but they’re often on the go, and have learned to research and shop online. To accommodate this, it’s best to build a presence across the most popular listing portals and social media platforms. Although, it’s not enough to establish a site and wait for the calls to come in. Responsiveness is a key factor for Millennials, who expect speedy response times. Make sure you’re checking your inbox frequently, responding accordingly, and engaging with your audience online. This will let Millennials know that you’re savvy, available, and understand the value of their preferred method of communication.

Are Millennials ready to buy?

It’s a common misconception that Millennials are uninterested in the rite of passage of purchasing a home. While Millennials maybe waiting a bit longer than their parents did to buy a home, there are good reasons to explain this phenomenon. For starters, Millennials entered the job market during the downturn, which means they are more conservative when making big purchases, and have to play catch-up to reach a sound

financial position. Likewise, student loan debt has proved a major financial inhabitation for Millennials. Instead of socking away a few hundred a month to save for a home, they’re forking over that cash to pay down their educational loans. How does a Realtor compete with this reality? For starters, a bit of understanding goes a long way. Work with your mortgage partners to find financing possibilities that cater to this younger demographic. Recognize that Millennials—like most buyers—have some trepidations when buying a home. Also consider fielding Millennial clientele with the long view in mind. You might be courting them for months or more until they’re ready to take the plunge, but they’re also famous for their reviews. When a job is done well, Millennials shout it from the rooftops—or at least share it a dozen time from their phone.

As time passes, Millennials will continue to dominate the marketplace when it comes to buying and selling homes. A little self-education on this powerful demographic can go a long way. If you know your clients and your audience, you’ll be in a far better position to serve their interests and make a customer for life.

KIMBERLY TOCCO

KIMBERLY TOCCO

“I have a very unique presence,” says Kimberly Tocco, explaining her approach to her career as a top agent working out of Arizona. “I’ve always stuck to my own personality, and I don’t do anything that is typical of an agent.”

Nothing about Kimberly Tocco’s real estate career has followed a traditional path. “I have a very unique presence,” she says, explaining her approach to her career as a top agent working out of Arizona. “I’ve always stuck to my own personality, and I don’t do anything that is typical of an agent.”

Kimberly first got into the real estate business following a personal tragedy. In 2011, one of her children committed suicide, an event which left Kimberly and her family reeling. “The only way we could get a house was with an extenuating circumstance loan because we’d had a bankruptcy after losing my son,” she says. “We were stuck in these horrible rentals. No agents would help us. I had no choice but to get my license in order to help my family get into a home.” That experience formed how Kimberly views the power of real estate. “When I handed the keys to my husband and saw how he had a foundation again, how he had his legs under him again, I knew that there was a need for someone like me,” Kimberly says.

She prides herself on going to bat for clients struggling to find their way into a home. To date, she has given back over $540,000 of her own commission to help families in her community. She also does a large amount of pro bono work to help clients in need.

Kimberly’s dedication is reflected in her clients’ loyalty. Her business is 100% based in referrals. “I don’t do emails, I don’t do phone calls,” she says. She credits her background in corporate formation

and private investigation for her formidable negotiation skills. 96% of her buyers walk away with at-value or instant equity, and 86% of her listings sell for record-breaking prices. “It’s been like that for the whole eight years that I’ve been doing this,” Kimberly explains. “It’s my skill in negotiation, in being able to identify the elusive property, and being able to put together an amazing presentation to open a bidding war.”

Kimberly stays active and involved in her community, particularly in regard to taking part in suicide intervention initiatives. “I’m known as the suicide eradicator. I speak to people weekly about holding on, giving it five more minutes or one more day,” says Kimberly. “That is my whole purpose.”

To further this cause, she has written a book and hosts a podcast, That Bitchin’ Real Estate Show, dedicated to overcoming life’s difficulties. To date, that podcast has aired over fifty-six episodes which Kimberly hosts and edits entirely on her own.

Looking to the future, Kimberly is excited to continue growing her business to better help her community. Most recently, her oldest son passed his real estate test and received his license. He and Kimberly are currently creating a charitable organization called Tenacious Angels. “Moving forward, not only will we continue to give back a percentage of our commissions for families, we’re going to be contributing to Tenacious Angels,” says Kimberly. “It is dedicated to buying food, blankets, clothing, and that sort of thing for the community.”

Mostly, Kimberly is dedicated to continuing to help people find peace through real estate. “It’s not what you go through, it’s how you come through,” she says. “The adventure in life is finding joy, and I want to provide that to my clients through their goals of homeownership or sales.”

To learn more about Kimberly Tocco, call 602-769-1476, email toccotenacity@gmail.com, or visit www.youtube.com/c/KimberlyTocco, www.IntuitiveRealtor.com or www.tenaciousrealestate.com