Dealing with Gen Y Homebuyers?

by User Not Found | Oct 31, 2014
A telephone interview study of 600 Gen Y homebuyers nationally, who closed escrow in 2013 was conducted by the Market Enhancement Group, renowned research experts on customer analysis.
Gen Y Homebuyers

  • They think they are unique. They think they are special. Remember it is all about them. Didn’t weraise them to be that way?
  • Gen Y homebuyers start the process a minimum of six to 18 months before contacting a REALTOR® – this means your social media, ratings on Yelp, and website are all important.
  • They prefer detached communications like text, e-mail, tweets, etc. Don’t call them, unless they call you.
  • In person communications are the least preferred type of communications with telephone right behind them.
  • They think of the telephone as an invitation to confrontation and objection countering.
Your Website or Social Media

  • 50% will leave your website if the first thing they see is your picture (remember it’s all about them).
  • 83% will leave your website immediately if they are first confronted with a video.
They Want it When?

  • Good things can be fast. And vice versa. But anything that is good and fast is special. This combination creates intrinsic value. With Gen Y homebuyers, one had better be both.
  • This is where it gets scary, the conversion rate (if you areable to get in touch with them) from a web, e-mail, text, or social media inquiry is based on speed of response.
See chart below.