*
FC Tucker Real Estate
Buddy West…Wilmington, Delaware
*
*
*Facts about Millennials
*Demographics…national and local
*Road Blocks
*Motivators
*Lead Generation / Marketing
*Do’s & ...
*
*Born 1980 – 2000 Ages 14 – 34
*Over 90 million strong, 80 million over 22
*We are within 6 years of a massive purchase
...
*
*30% live on own
*12% of married 24-34 live at home
*46% of married 24-34 on their own
*Unemployment rate 16% or double ...
*
*Tuition 1980 $3000+ 2020 $9000+
*Pell grants dropped from 69% in 1980 to 34% in
2010. We have gone from a grant base to...
*
*Millennials are obsessed with research
*They grew up with technology & connectivity
*Committed to results & efficiency
...
*
*Risk Adverse.. tough job market, light wallets,
they believe luck plays a role in success.
*Offer incentives in social ...
*
*Nationally 80 million strong to over 90. Like
urbanization with amenities. Walkability,
bicycling, restaurants and soci...
*
*Dated shopping malls are being replaced by
mixed use market & living centers
*Parks, hiking trails, bicycle paths athle...
*
*Approximately 205,000 18-34 yr olds
*Surrounding suburbs an additional 200,000
including, Meridian Hills, Carmel, Fishe...
*
*They like accomplishments, CRS, GRI, MilRES
*Integrity is a must or you will loose them quick
*They flock toward agents...
*
*There are many roadblocks that face today’s
millennium buyers. This was common with
boomers during the late 80’s and ea...
*
*DO Keep it short and sweet..era of tweets
*DO maintain a comprehensive online presence and
use it as your base camp
*DO...
*
*Erin and Scott Dowling Settled 5.30.14
*No kids, purchased 4500 sq ft $600.000
*Face to face- 4 times including settlem...
16
*
3.
4.
*
*
*Slate Magazine gets it. Check out their FB
page. News Media Website directed to
millennials.
*Slate is the preferred fo...
TRADITIONAL MARKETING
&
ADVERTISING
NOT …
TRADITIONAL MARKETING & ADVERTISING
ADVERTISING CLUTTER
MEDIA FRAGMENTATION
CONSUMERS TUNED OUT
LESS EFFECTIVE
MORE EXPENS...
ONLY 18%OF TV ADS
GENERATE POSITIVE ROI
ONLY 14% TRUST ADS
69% Seek Ad Blocking
Technologies
CreatingBUZZ
30
*
90% = Choose service provider based
on trust, likability, competence, etc.
10% = Choice based primarily upon
cost
31
LAW OF FEW
10% INFLUENCE PURCHASING
BEHAVIOR OF OTHER 90%
32
91% LIKELY TO BUY ON
RECOMMENDATION
33
92% PREFER WOM
RECOMMENDATION
Networking
vs.
Connecting
*
*Huge boomer sell off coming in 4-6 years 1.5 to
5 million homes per year by 2018 to 95 million
perspective buyers
*Many...
*
*Shell out some bucks to appeal to the
millennial buyer. They are looking at HGTV to
see what they want.
*$15,000 can yi...
*
*In: Granite Out: Formica
*In: Media Room Out: Living Room
*In: Home Office Out: Dining Room
*In: Great wireless Out: De...
*
*Walkability
*Public Transportation
*Near Parks / recreation areas
*Social areas, restaurants, movie theatres
*Schools
*
*Visit nearby homes for sale and see how yours
compares
*Hire a home stager NOTE: most younger buyers
don’t have imagina...
*
*Lifestyle considerations
*Generational
considerations
*Behavioral styles
Dominant
Direct
Determined
Demanding
Decisive
C
Cautious
Calculating
Conscientious
Contemplative
Influencing
Inspirational...
42
*
1. Why?
2. What?
3. Can you Explain?
*
*Interview
Tour Communities
Pre-Approval
Deliver Papers
Home Selection
Reports
Write Proposal
View Homes
Moving Day
Make S...
*Home Selling Process
MARKET RESEARCH
LISTING SIGNED
OFFICE
MULTIPLE LISTING
CONTACT PROSPECTS
SHOWINGS
OPEN HOUSE
OFFER R...
*Contract To Close
PROCESSING
MORTGAGE CO. CREDIT REPORT APPRAISAL
LOAN APPROVAL
UNDERWRITING VERIFICATIONS
TITLE CO.
ASSE...
“The minute real estate listings
went online was the minute
that it was no longer sufficient
that a real estate broker
mer...
*All businesses & professionals
must compete In two major
ways
1. Positional advantage
2. Capability advantage
*
CONVERT
TRANSFORM
ATTRACT
RAVING FANS
50
TWO THIRDS OF U.S.
ECONOMONY DRIVEN BY
WOM
BRAND ADVOCACY DRIVES BUSINESS
GROWTH
Harvard study
BRAND ADVOCACY EVEN MORE
IMPORTANT THAN BRAND IMAGE OR
BRAND SATISFACTION
Harvard study
BRAND ADVOCATES
AVERAGE
CUSTOMERS,
CLIENTS,
CONSUMERS
BUZZ =
INFECTIOUS CHATTER
WHAT’S HOT
WHAT’S ATTRACTIVE
11-12 intimate
contacts
150 social contacts
500 – 1,500 weak ties
56
BIRDS OF A FEATHER
FLOCK TOGETHER
The term homophily stems from study of social networks.
HOMOPHILY
BIRDS OF A FEATHER ...
CLUSTERS
Interests hobbies beliefs age gender
social class ethnicity religion values
politics geography education
occupati...
Fc tucker final presentation
Fc tucker final presentation
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Fc tucker final presentation

  1. 1. *
  2. 2. FC Tucker Real Estate Buddy West…Wilmington, Delaware *
  3. 3. * *Facts about Millennials *Demographics…national and local *Road Blocks *Motivators *Lead Generation / Marketing *Do’s & Don’ts of Selling to Millennials *Features & Designs *Buying a Boomer’s house
  4. 4. * *Born 1980 – 2000 Ages 14 – 34 *Over 90 million strong, 80 million over 22 *We are within 6 years of a massive purchase *Most educated segment ever 55-45 women *Gallop Poll: *14% 24-34 live with parents. *51% pursuing higher education & living at home *70% 24-34 single and living at home
  5. 5. * *30% live on own *12% of married 24-34 live at home *46% of married 24-34 on their own *Unemployment rate 16% or double national avg. *Over 60% are not working in their field of study OTHER FACTORS Poor job prospects; Availability
  6. 6. * *Tuition 1980 $3000+ 2020 $9000+ *Pell grants dropped from 69% in 1980 to 34% in 2010. We have gone from a grant base to a loan base. *Personal debt increased by 40% *BHG Study *Despite these road blocks, over 70% still believe in “The American Dream. They also believe that homeownership is the biggest indicator of success.48% are planning to invest in real estate in the next 3 to 5 years.
  7. 7. * *Millennials are obsessed with research *They grew up with technology & connectivity *Committed to results & efficiency *Love to laugh *Procrastinate better than most *Quick to influence peer groups *Optimistic. Pay bills & have fun *Politically Independent & may create a 3rd party *Gallop
  8. 8. * *Risk Adverse.. tough job market, light wallets, they believe luck plays a role in success. *Offer incentives in social media to capture their attention based on them re-tweeting you. Want Answers immediately. No BS, clear action steps & quick answers. Offer reasons to take the next step without pressure. Cautious; Entered the workforce in a weak economy & manage their money carefully
  9. 9. * *Nationally 80 million strong to over 90. Like urbanization with amenities. Walkability, bicycling, restaurants and social meetings *Now starting to branch out into the “burbs” as long as they have the amenities required to grow their life. *Healthy living, good schools and fun top their list *1 out of 7 have incomes of $100,000 or more
  10. 10. * *Dated shopping malls are being replaced by mixed use market & living centers *Parks, hiking trails, bicycle paths athletic fields recreational facilities are important *Indianapolis weekly April 2013 Monon Trail traversing Carmel and Westfield and many other communities surrounding “Indy” Great selling feature
  11. 11. * *Approximately 205,000 18-34 yr olds *Surrounding suburbs an additional 200,000 including, Meridian Hills, Carmel, Fishers, Whitestown, Noblesville, & Geist (ICOC) *According to CRS Magazine April-May, Indianapolis ranked # 3 as best places to live in the USA. *Forbes ranked it in the top 5 for 5 years
  12. 12. * *They like accomplishments, CRS, GRI, MilRES *Integrity is a must or you will loose them quick *They flock toward agents who are tech savvy
  13. 13. * *There are many roadblocks that face today’s millennium buyers. This was common with boomers during the late 80’s and early 90’s. We as Realtors® need to focus on how to make homeownership possible. *Huge debt Trans Union says avg score is 628 with revolving credit of $23,232 *Tuition payments $29,400 up from 23,450 in 2008
  14. 14. * *DO Keep it short and sweet..era of tweets *DO maintain a comprehensive online presence and use it as your base camp *DO cultivate a laid back presence, under promising rather than overstating *DON’T try to be someone or something you aren’t *DON’T play know it all. Positioning yourself as the only expert will backfire. They will use blog, face book, and You Tube to become informed
  15. 15. * *Erin and Scott Dowling Settled 5.30.14 *No kids, purchased 4500 sq ft $600.000 *Face to face- 4 times including settlement *E-mails- 86 (sent and received jointly) *Test messages- 60 *Referrals (so far) 2 *Note- Ask how they would like to communicate
  16. 16. 16
  17. 17. *
  18. 18. 3.
  19. 19. 4.
  20. 20. *
  21. 21. * *Slate Magazine gets it. Check out their FB page. News Media Website directed to millennials. *Slate is the preferred format for getting information *They shop on line before shopping in a store and only if they need to go to a store *Amazon’s targeted millennials successfully
  22. 22. TRADITIONAL MARKETING & ADVERTISING NOT …
  23. 23. TRADITIONAL MARKETING & ADVERTISING ADVERTISING CLUTTER MEDIA FRAGMENTATION CONSUMERS TUNED OUT LESS EFFECTIVE MORE EXPENSIVE LESS TRUSTED LOWER ROI
  24. 24. ONLY 18%OF TV ADS GENERATE POSITIVE ROI
  25. 25. ONLY 14% TRUST ADS
  26. 26. 69% Seek Ad Blocking Technologies
  27. 27. CreatingBUZZ
  28. 28. 30 * 90% = Choose service provider based on trust, likability, competence, etc. 10% = Choice based primarily upon cost
  29. 29. 31 LAW OF FEW 10% INFLUENCE PURCHASING BEHAVIOR OF OTHER 90%
  30. 30. 32 91% LIKELY TO BUY ON RECOMMENDATION
  31. 31. 33 92% PREFER WOM RECOMMENDATION
  32. 32. Networking vs. Connecting
  33. 33. * *Huge boomer sell off coming in 4-6 years 1.5 to 5 million homes per year by 2018 to 95 million perspective buyers *Many homes not ready to attract buyers *Opportunities abound for the agent
  34. 34. * *Shell out some bucks to appeal to the millennial buyer. They are looking at HGTV to see what they want. *$15,000 can yield twice that. “Ilyse Glink” *Use modern colors and furniture *Make the home an emotional buy for them
  35. 35. * *In: Granite Out: Formica *In: Media Room Out: Living Room *In: Home Office Out: Dining Room *In: Great wireless Out: Dead zones *In: Bold Colors Out: Neutral walls *In: Hardwood Out: Carpet *In: Stainless Steel Out: Dated appliances
  36. 36. * *Walkability *Public Transportation *Near Parks / recreation areas *Social areas, restaurants, movie theatres *Schools
  37. 37. * *Visit nearby homes for sale and see how yours compares *Hire a home stager NOTE: most younger buyers don’t have imagination when they walk into a home with outdated stuff) *Cards saying this room could be…. *Repaint walls to add zing *Pull up carpet and freshen up kitchen
  38. 38. * *Lifestyle considerations *Generational considerations *Behavioral styles
  39. 39. Dominant Direct Determined Demanding Decisive C Cautious Calculating Conscientious Contemplative Influencing Inspirational Interactive Interested in People S Steady - Stable Supportive Status Quo Shy * Reserved (Methodical) TaskOriented PeopleOriented Power Procedure People Predictability
  40. 40. 42 * 1. Why? 2. What? 3. Can you Explain?
  41. 41. *
  42. 42. *Interview Tour Communities Pre-Approval Deliver Papers Home Selection Reports Write Proposal View Homes Moving Day Make Selection Offer Presented Termite Verifications Credit Report Discuss Strategies Inspections B Rejection Approval Seller Notified Home Inspection Mortgage Co Underwriting Negotiate Offer Appraisal Loan Approval Title Company Title Search Earnest Money Contract Accepted Assemble Papers Settlement B
  43. 43. *Home Selling Process MARKET RESEARCH LISTING SIGNED OFFICE MULTIPLE LISTING CONTACT PROSPECTS SHOWINGS OPEN HOUSE OFFER RECEIVED OFFER CONTRACT ACCEPTED INSPECTIONS BROKER’S TOURGRAPHICS OFFICE TOUR MLS COMPUTER MLS MEMBERS TRANSACTION PROCESSING NET SHEET COUNTER OFFER EARNEST MONEY MLS TOURS BEGIN PROCESS
  44. 44. *Contract To Close PROCESSING MORTGAGE CO. CREDIT REPORT APPRAISAL LOAN APPROVAL UNDERWRITING VERIFICATIONS TITLE CO. ASSEMBLE PAPERS SETTLEMENT HOME SOLD REJECTION TRANSACTION PROCESSING
  45. 45. “The minute real estate listings went online was the minute that it was no longer sufficient that a real estate broker merely had information about real estate listings.” Seth Godin
  46. 46. *All businesses & professionals must compete In two major ways 1. Positional advantage 2. Capability advantage
  47. 47. * CONVERT TRANSFORM ATTRACT RAVING FANS
  48. 48. 50 TWO THIRDS OF U.S. ECONOMONY DRIVEN BY WOM
  49. 49. BRAND ADVOCACY DRIVES BUSINESS GROWTH Harvard study
  50. 50. BRAND ADVOCACY EVEN MORE IMPORTANT THAN BRAND IMAGE OR BRAND SATISFACTION Harvard study
  51. 51. BRAND ADVOCATES AVERAGE CUSTOMERS, CLIENTS, CONSUMERS
  52. 52. BUZZ = INFECTIOUS CHATTER WHAT’S HOT WHAT’S ATTRACTIVE
  53. 53. 11-12 intimate contacts 150 social contacts 500 – 1,500 weak ties
  54. 54. 56 BIRDS OF A FEATHER FLOCK TOGETHER The term homophily stems from study of social networks. HOMOPHILY BIRDS OF A FEATHER FLOCK TOGETHER
  55. 55. CLUSTERS Interests hobbies beliefs age gender social class ethnicity religion values politics geography education occupation CLUSTERS

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