How do Estate Agents Need to Adapt Their Methods to Sell to Younger Generations?
The average real estate agent is 49 years old, while the median age of a prospective first-time homebuyer is 33. That’s a significant gap, and it highlights how a lot of agents may be out of touch with the best ways to connect with today’s property purchasers.
The process of selling houses, apartments, and other dwellings have changed over the years, especially since the dawn of the internet. “For Sale” signs no longer move houses, and digital marketing has become the primary way to reach people. Estate agents need to keep adapting their methods of selling, as the technologically-raised generations are now the people buying houses.
Are You Young or Old in Technological Terms?
Maybe you already think that you’re “down with the kids” and know all there is to know about the world of TikTok and Twitch. However, the digital landscape moves fast, and you may be older in technological terms than you’d previously thought. Take the test below to find out how up-to-date you are with today’s trends – the results may surprise you.
Today’s younger generations have grown up with technology, with online platforms often being their preferred form of socializing. Indeed, 14 percent of Generation Z spend more than five hours per day on YouTube, while 11 percent are on TikTok for a similar amount of time.
Estate agents will be marketing to this generation within the next decade, so it’s important to keep up to date with what they’re into. Social media is one of the most important internet categories, and a lot of today’s marketing is done on these sites. Indeed, 93 percent of marketers turn to Facebook to attract clients.
Social Media is the Best Way to Reach Clients in the Modern Age
If you haven’t already developed a social media marketing strategy, this is one of the first things you need to do. That’s because it’s not just members of Gen Z who spend a vast amount of time on social media sites.
Young adults between the ages of 25 and 35 make up the largest demographic on Facebook, and these are people who will also be looking to buy homes. Therefore, it’s crucial to get the hang of Facebook ads and zone in on your target audience through these.
Be Open to New Technology and How it Can be used to Showcase Properties
There will also be a lot of new technology emerging over the next few years, and estate agents need to be ready to transition to it when it comes about. Augmented and virtual reality could be game-changing for the real estate industry.
This new technology will allow for virtual property tours, meaning that estate agents will be able to take many different people around dwellings at the same time. It will also solve problems such as having to travel to out-of-the-way locations.
The cutthroat real estate industry is always evolving, and people who want to stay at the top need to adjust their methods. Technology will play a huge part in future house sales, so it’s wise to keep track of what the younger generations of today are using.