In 2020, Millennials were the largest group of homebuyers. As the pandemic wore on, older members of Gen Z stood up and made a showing in the market. Both younger generations will continue to be well-represented in the coming years. This is why Homesale Realty focuses plenty of attention on them!

Millennials and Gen Z are very different, but you're likely to work with both:

• Millennials
  The oldest Millennials are over 40. That cohort is sometimes known as "the Oregon Trail Generation" to distinguish it from younger peers. The Millennial age range runs 1981-1996, so the youngest Millennials are now in their mid-20s.
  
  Many older Millennials had their career trajectory drastically curtailed by successive waves of financial crises that lowered the hammer on their earnings potential in critical early years. As a result, they have been slow to buy and don't necessarily consider a home a reliable investment, let alone a "sure thing." Younger Millennials share more in common with Gen Z.
  
  
• Generation Z
  Anyone born 1997 and onward is part of Generation Z, so the oldest in this bunch is just starting to turn attention toward a home. Their beliefs on homeownership align more with their grandparents: More than 85% said they plan to buy their first home before they turn 35.

5 Big Ways to Appeal to Younger Buyers

It's not clear how COVID-19 will shape Generation Z's economics, but uncertainty is driving them to seek advice from real estate agents. Agents who take time to understand the younger generation's hopes and fears will be positioned to help them navigate the market.

Let's look at some ways to appeal to Millennials and Generation Z:

• Put Everything Online ... Yes, Everything
  The vast majority of your future clients will find you online. The younger they are, the more likely they are to use digital resources first – not only to scope out houses but to compare real estate agents. Be sure your website is a complete, comprehensive resource that looks great on mobile.
  
  
• Answer Buyers' Burning Questions on Your Website
  Many real estate agents fear "sharing too much" on their website, but they need a fresh perspective. The more assets you publish on your site, the more you can appear in online searches relevant to your business. This helps bring in prospects who'll begin to trust you because of your quality content.
  
  
• Learn the Ins and Outs of Financing and First-Time Homebuyer Programs
  Financing is a question that looms large in the minds of younger buyers. It will continue to be an issue as interest rates rise in the future. If you know all about it – including specialty programs like the FHA and HUD home loans for first-time buyers – you can directly address a major worry for younger clients.
  
  
• Get a Fix on Your Client's Values by Asking Plenty of Open-Ended Questions
  It's essential to ask questions and listen actively to younger buyers because they often take a holistic view: They want to craft the right lifestyle, not just buy a house. They often value things like walkability and proximity to amenities, while a big yard may be a "must-have" for dog owners.
  
  
• Help Them Rethink the Value of a Home
  Millennials are cautious of thinking of a home as a sign of success, but you can help them see how one may help them succeed. Guide them to think about the long-term value of their options compared to the costs and uncertainty of renting, the potential for "house-hacking" (like renting a spare room), and so on.

Contact BHHS Homesale Realty to learn more today.