A Walkthrough to Boost your Real Estate Business: Understanding Modern Homebuyers and Sellers
Key Insights
- The new age of house-hunting is driven by a sea of millennials craving homes with modern, eco-friendly features.
- COVID-19 has reshaped home buyer priorities with potential owners coveting home offices, gyms, and larger living spaces.
- Hyper-local marketing is the new black. Potential clients prefer realtors with a nuanced understanding of local markets and neighborhoods.
- Virtual tours and mobile apps appeal to tech-savvy buyers. Realtors who adapt will gain a competitive advantage.
- People aren’t just buying homes; they’re buying lifestyles. Realtors can seal deals by promoting nearby amenities like parks, restaurants, and schools.
- Home sellers, especially those with high-value homes, prefer realtors with extensive global networks.
- Integrated marketing strategies that blend online and offline efforts will win the day. Think digital ads, print flyers, and networking events.
The Witty Takeaway
If millennials had dollar for every time they heard the words ‘modern and energy-efficient homes,’ they’d probably own a large portion of the Silicon Valley by now! Joking aside, it’s clear that the millennial wave has shifted market trends substantially. Yes, avocado toast is a thing, but so are solar panels and smart homes.
The global pandemic has transformed many into part-time yogis, full-time chefs, and occasional office professionals – all done at home. Hence, it’s no surprise if your potential buyer asks for a Zen garden, a gourmet kitchen, and a larger-than-life office in one package. If they start asking for a beach within walking distance, don’t be taken aback!
Going back to our millennial friends, they love all things shiny and tech-driven. So, realtors, it’s time to draw up your game plans! Augmented Reality house tours, mobile apps, and savvy tech tools should be at your fingertips. But remember, don’t lose your local touch. In fact, try to encourage potential buyers to truly bathe in the local flavor – eating local, rooting for local sports teams, and of course, buying local!
And to all you jet-setters and luxury property owners, a well-connected realtor could be your best friend. So choose someone with an office in every corner of the planet. Be it Manhattan or Monaco, your dream buyer could be anywhere!
Realtors, the two magic M’s for you are – millennials and marketing. Integrated marketing is the key tool here: harness the power of the internet, but don’t discard old-school tactics like flyers and networking events. No one ever said marketing was easy, but hey, if it were, you’d never have the pleasure of meeting all those interesting clients right?
In real estate, we’re not just selling houses – we’re selling dreams, lifestyles, and communities. So put on your charm, tune in to the latest buyer trends, and ready yourself for the ride of a lifetime. After all, isn’t change the only constant in life and real estate alike?
Original article: https://www.inman.com/2024/02/26/what-todays-buyers-and-sellers-want-in-2024/
