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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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. *
*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
23. *
*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
25. TRADITIONAL MARKETING & ADVERTISING
ADVERTISING CLUTTER
MEDIA FRAGMENTATION
CONSUMERS TUNED OUT
LESS EFFECTIVE
MORE EXPENSIVE
LESS TRUSTED
LOWER ROI
35. *
*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
36. *
*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
37. *
*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
39. *
*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
44. *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
45. *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
46. *Contract To Close
PROCESSING
MORTGAGE CO. CREDIT REPORT APPRAISAL
LOAN APPROVAL
UNDERWRITING VERIFICATIONS
TITLE CO.
ASSEMBLE PAPERS
SETTLEMENT
HOME SOLD
REJECTION
TRANSACTION
PROCESSING
47. “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
48. *All businesses & professionals
must compete In two major
ways
1. Positional advantage
2. Capability advantage
