Selling Real Estate to Generation Y Clients – What You Need to Know

Selling Real Estate to Generation Y Clients - What You Need to KnowThey are young, confident, ambitious and ready to buy property. They are unlike any generation before them, having lived in a highly technical world where everything is easily accessible and attainable. This is a generation of people (one generation before me) who I have worked with for the past ten years in their leadership development and have been quite amazed as I’ve witnessed them applying self-confidence and a ‘can-do’ attitude to get whatever they want. They’re called Generation Y or in the short form Gen Y, young folks in their 20s and early 30s.

In my work with Generation Y, I’ve discovered many things that sales people have totally missed the mark with when it comes to marketing and working with Gen Y clients and consumers. Let me share with you some insights that can help you effectively connect with the future wave of home buyers and sellers.

Get plugged in. If you’re not using social media and online networking tools such as Facebook, Twitter, YouTube and MySpace, you need to get on board. Gen Y likely won’t know where to find you so you need to go where they hang out. In fact, just today I saw a status post from a Gen Y Facebook friend inquiring where to find a good realtor.

Respect them as clients. They may be young and inexperienced but Gen Y like to know that their wants and needs are being listened to and valued. They value being mentored so if you can share your expertise and go to bat for them, you’ll be a hero in their eyes.

Be real. Drop any sales-speak you might be accustomed to using and use language that is open and honest. Show that you are working in their best interest. You may need to spend extra time explaining the basics to them as first-time home buyers. They will appreciate this!

Get to know them. They need to like you before they decide to work with you. So, get to know them beyond their real estate needs. What are their interests? Movies, music, restaurants? What are their aspirations?

Stay connected. They are used to having information updated instantly as well as being able to connect with people at anytime. Whether it comes in the form of email, text, or phone, they will expect regular updates from you. Find out what their preferred mode of communication is and connect with them in that mode.

Say ‘hi’ to their parents. This one is my personal favorites because it’s such a sharp contrast from what was expected with my generation. With Gen Y, you can anticipate having their parents very involved in home viewing, negotiation and decision-making, as well as providing financial support. Unlike previous youth generations who frowned by what was seen as ‘parental intrusion’, Gen Y welcomes it.

Having the highest consumer confidence out there, Generation Y can be a highly viable market to work with, if you can learn how to reach them.

How are you targeting this market?

This post has 5 comments

  • Karin Wills says:

    These are great ideas. I think people from most generations would prefer these, except perhaps the parent one.

  • City hall calls them the millennials and they’re the next force to be reckoned with. Currently the largest demographic downtown vancouver.

  • Brent Wilker says:

    This is a fantastic article; do you feel GenY’s get enough respect in the marketplace?

    • Dal Sohal says:

      Thanks for your comment, Brent. I sure hope they are being respected. If not, agents could be throwing business away. It’s important for people who work in the real estate industry to take them seriously. Gen Y are confident about what they want in life and won’t compromise for anything less. They will be the investors of the future so it pays to know how to service them now!

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