When it comes to choosing a city to live in, millennials are choosing major cities.
9 out of 10 of those cities are European cities, with Amsterdam holding down the top spot. Other European cities on that list include Berlin, Paris, and Barcelona.
But the one city that just made it on the list that’s not European?
Why are millennials flocking to Vancouver?
This report, compiled by the German-based online housing platform Nestpick, ranked cities around the world based on various factors. Nestpick’s Managing Director, Ömer Kücükdere, says that in light of aging populations, cities must be thinking of the millennial demographic if they want to be able to maintain a thriving economy.
It’s no secret that millennials are a tech-savvy generation, and Vancouver millennials are no exception. In fact, the report found that Vancouver scored quite high in their Startup score.
Vancouver millennials are looking for a place where they can develop their skills and pursue work in the field.
With such promise, REALTORS® need to find a way to be able to market effectively to millennials. Here are 3 tips to help you successfully engage the millennial population.
Be an expert
One way to set yourself apart from other agents?
Be the expert they need.
Millennials expect you to have a good sense of what you’re doing, and to help them navigate through the process of buying a home. They want you to have knowledge of the market and want to be ready for what to expect.
Because if you don’t know these things, who will?
Start by meeting with your millennial clients in person so that you can explain the process to them and what to expect. Also take the opportunity to genuinely get to know them!
Through it all, you will be the person that they will trust with the process. You will be the one to help them through, connect them with various resources upon your recommendation, and even introduce them to the neighbourhood and all its features.
Speaking of being an expert and building up trust, a sure-fire way to do this is to be transparent with your clients.
Millennials are no different from their parents or grandparents in the fact that they are looking for the best deal. With this generation being the Google-searching generation, you can definitely count on millennials to do their research.
So, be sure that you are transparent! Whatever information you present, ensure that it is genuine and truthful. As with any client, being transparent is the true mark of a trustworthy REALTOR®. Plus, your transparency will definitely shine through when they are telling their friends about their home-buying experience with you!
Be tech savvy
Technology and mobile are game changers in the industry, so it’s safe to say that if you aren’t up to date, you’re going to fall behind. Here are three tech tips to keep you ahead of the game and totally tech savvy:
Keep millennials visually engaged with your listings: Chances are, your clients will be doing a lot of looking around online, looking at different listings online and reading up on the specs of their potential first home. Draw them in with professional photography and video tours so that they can actually visualize the house - and themselves in the house. If you can sell millennials on a the idea of a home, there’s a higher likelihood that they will follow through and reach out to you.
Use social media - wisely: Your social media channels are an excellent way to show potential clients who you are as a person, build rapport with the community and share resources and knowledge with those that follow you. They aren’t a place to flood with your listings! With a strong social media marketing strategy, you can connect with the incredibly large millennial demographic while also establishing yourself as a leader and expert - remember what we talked about above?
Millennials are looking to Vancouver as the site of their first home. If you want to successfully tap into this large market:
Be the expert
Be tech savvy
With these three tips, you’ll definitely be able to connect with millennials and turn those initial handshakes into leads.
Rachel Wong is the Digital Content Co-op student at RESAAS. She loves coffee and beer, writing and talking, and has been the same height for pretty much ever. Check out her RESAAS profile ›