MILLENNIAL BUYERS

WHY EMPLOYEE

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

sellers know that they personally understand their needs and concerns will connect with clients quickly, break down barriers and help the process move smoothly.

Chayan Alavi, Broker/Owner of Alavi Agency in Long Beach, California, challenges himself and his team to ensure that every action of every day serves others. “If we can put ourselves in other people’s shoes with empathy, then we become stellar professionals and great human beings, too,” he says. “I like knowing that we remove the sales pitch from real estate and make it all about the customer.” Chayan and his team focus on customer advocacy and building trust. But they don’t take trust for granted. Instead, they know trust must be earned and nurtured over time.

mowed clients’ lawns, walked dogs and personally cleaned someone’s 8,000-squarefoot, $2 million home for a showing one day after his seller left the house. Two days before another closing, Matthew’s client was unable to move large amounts of unneeded furniture out of the house he sold. No problem! Matthew joined or created five online garage sales; sold or gave away most of the client’s belongings and had the remainder hauled away before cleaning in time for the closing. “The first time I sit with a seller on listing presentation or the first day I take someone on a buyer’s tour, they know I’m ‘all-in.’”

Meanwhile, in the Cincinnati area, Aaron Denton of Summit Funding considers himself and his team members to be concierges for their borrowers. “We’re like personal assistants,” says Aaron. “People are happier when you remove the stress.” Included in their standard services are researching moving quotes; arranging and organizing movein day; scheduling utility transfers; assisting with children’s school registration paperwork; and even connecting buyers with local resources like daycares.

Roll up your sleeves

“You can’t be afraid to do anything!” says Matthew Todd of d’aprile properties in the Chicago area. “People know there’s nothing I won’t do to get the job done.” He has If “rolling up your sleeves” isn’t your strongest skill, then an easy alternative is to get to know professionals in your area who can do these tasks for you. In the end, remember that by listening with patience, empathizing, and being willing to go the extra mile, you have the power to remove the stress your clients would experience without your help. When clients feel cared for, they remember the agents and partners who helped them.

BENSON VERBEL

Benson Verbel has the perfect personality for selling real estate. In fact, he came into the industry because of his Mother-In-Law, Cindy Rouse/Broker-Owner of Rouse Realty. She saw great potential in Benson –from his kind demeanor and sense of humor to his compassion for helping others realize their dreams. “She knew I would enjoy this career because I love helping people,” he says. “Whether it’s getting folks into their first home or helping them expand as they welcome new family, it’s just an honor to be able to help.”

While it’s an honor, it’s also a successful career for Benson. His primary focus is selling residential real estate in the Northern Colorado area although he does not shy away from helping people all across the state when requested. In turn, Benson’s clients show their faith in him by his earned 70% referral rate. “It’s fun to be working with families,” he says. “I’ll work with the daughter, then the sister, then the brother, then the mother. It’s wonderful to build relationships with these families. And a lot of our work is family orientated, and we take care of our clients like they’re our family too.”

Benson graduated with a Marketing Degree from CSU and has applied it to his work in fun and exciting ways. “You need to catch people’s eyes,” he says. “I do a lot of direct marketing, and I am also focusing on social media while keeping it fun.” For example, the Denver Aquarium allows you to go diving with sharks in a cage. This year for Shark Week, I’ll be running a raffle for past clients to win a chance to go diving with the sharks. And, I’ll do smaller things like movie night at the local boutique cinema and Easter Egg Hunts. They are things that get people excited and they get a kick out of it.”

While Benson loves to help others have fun, he also takes his job very seriously. This past year he’s expanded his level of expertise through becoming a Certified Negotiations Expert as well as getting his Military Relocation Certification. “We’re putting together a hero program where we reach out to the military; to police; to firefighters and help them with their closing costs,” he explains. “It means a lot to be able to help these military families as they relocate.”

His drive to help others is the focus of his attention this year. “I’m close to finishing my Senior Real Estate Specialist designation,” Benson says. “I want to be able to help folks in their later life as they retire, downsize and prepare to move.”

Benson stays active in his community volunteering with the Weld Food Bank and Meals on Wheels as well as serving on the Greeley Area Board of REALTORS. He also was instrumental in hosting a “Kindness Essay Contest” for children through the age of 10 years old in all the Greeley Area Schools. But with his spare time what he truly loves to do is be with his daughters. “I have a two year old and a five year old,” he says. “One of the most precious things in my life is seeing them grow up, and spending time with them.”

Benson is looking towards a bright future. People have noticed and are recognizing his success. Recently he was named one of the 40 Under 40 by Colorado Home Owner’s Magazine, an esteemed recognition for Realtors in Colorado. “That was an honor,” he says. “And it’s great to see my work have a positive impact on people.”

www.mb-rouserealty.com/default.asp.f-meetouragents_view_profile.agentid-29546 To find out more about Benson Verbel, call (970) 744-0223, email benson.verbel@yahoo.com, or visit his website here