How property practitioners can assist young home sellers

Every salesperson has one thing in common – whether they’re selling real estate, clothing or groceries: you need to know your customers to succeed. In the real estate world, groups referred to as Gen Z and Millennials make up a significant portion of your potential property sellers. We’ve put together an essential guide to property marketing for younger demographics.

First things first: who are millennials?

Millennials are people born between 1981 and 1996. One of their defining characteristics is that they grew up during the tech boom and experienced everything from rotary phones, dusty encyclopaedias and dial-up internet to smartphones and AI. They have a unique hybrid perspective, having experienced both the old and the new.

When millennials look to sell a house, they’re selling both a home and a lifestyle. Property practitioners need to consider various factors when marketing to millennials. Elements like community culture, dog parks, farmers markets and local schools would have been important to them when they purchased their home, and they will expect these factors to be highlighted to prospective buyers. Another important factor is that in the aftermath of the pandemic, many millennials shifted from being office-based to working from home or having hybrid arrangements. In their eyes, good Wi-Fi infrastructure and home office space are thus also great selling points for their homes.

This generation is acutely aware of social and environmental concerns and prefers to do business with companies that share these values. Millennial home sellers adhere to various real estate trends and are likely to be drawn to real estate companies that prioritise the environment and social justice.

Introducing Gen Z

Gen Z refers to young people born between 1997 and 2012 and the most important thing to know about them is that they are digital natives. They never knew a world without the internet, smartphones and social media.

Like millennials, Gen Z has also been shaped by crises such as the 2008 recession and the pandemic. Having experienced these during their formative years, the need for financial stability is ingrained into their psyche.

As a result of the social transformation they have grown up amongst, Gen Z is highly attuned to issues like racial equality, LGBTQ+ rights, gender inclusivity and economic inequality. More so than any previous generation, they expect brands to stand for something – and to be conscious of environmental issues.

Having grown up in an era of financial hardship, Gen Z is acutely aware of student debt, inflation and the challenges of becoming a homeowner.

Everything millennials and Gen Z need when considering a real estate sale

Selling a home as a young homeowner can be a daunting process! Both millennials and Gen Z want the process of selling a home to be as quick, efficient and stress-free as possible. Both groups are accustomed to being immersed in technology and will value real estate agents who capture high-quality photographs of their homes, take drone footage and create virtual tours and other digital assets. A Gen Z buyer is especially likely to ask you if you’re using social media such as Instagram and TikTok to boost their property’s exposure.

A second factor close to the hearts of millennials and Gen Z is transparency. They will want to work with a property practically who they intrinsically trust. Being upfront about all the costs involved with selling a property, from a practitioner’s commission to compliance certificates, will earn you their respect. Being digitally savvy, they will use various online tools to verify what you’re telling them. 

As both generations have strong beliefs around ethics and sustainability, they are likely to insist on their homes being marketed accordingly. It will be important to highlight any eco-friendly features that the home has, from solar panels and inverters to water tanks and low-flow bathroom fixtures.

5 tips for practitioners selling homes on behalf of millennials and Gen Z

1. Embrace social media

One of the best ways to engage with Gen Z is through social media. Comment on their stories and posts without appearing pushy and use your social media platforms to remind them that your brand resonates with their beliefs.

2. Create personal connections

Millennials and Gen Z value personal connections perhaps above all else. Show an interest in their life outside their property sale and let them get to know you. They can find all the information they need online, so focus on showing kindness and personality.

3. Communicate with immediacy

Instant gratification is important to Millennials and Gen Z, so be sure to stay on top of communication. If you’ve hosted a show day or had a potential buyer express interest, don’t delay in letting them know.

4. Be upfront with them

Never underestimate the knowledge that a millennial or Gen Z seller has. They’ve done their research and you’re there to facilitate the process. Being truthful about what the process entails and what they can expect will earn you their respect.

5. Ask before you call

For many millennials and members of Gen Z, a WhatsApp message can often be preferable to a phone call. Chat to them at the beginning of your professional relationship and ask what mode of communication they prefer.

When young sellers need results, our marketing service delivers

Providing real estate guidance for young sellers comes with its challenges, but fulfilling their needs creates a new level of meaning for property practitioners. Embracing their concerns for the environment and social justice is a positive step for the real estate industry as a whole. Another positive step that your business can take is to trust Prop Data to guide you through all the must-haves that your real estate website and marketing process need.