Is there any point in marketing a retirement plan to someone who has just turned 19? Definitely not! Instead, 43-year-olds might be the best target group for this marketing scheme; they would be looking for more ways to secure their financial stability in retirement.
This generational marketing concept is something professionals including real estate agents must put to use. Real estate agents must understand the unique needs, priorities, and interests of different generations to effectively market properties, or the services of their real estate brokerage in Mississauga.
Catering to the Real Estate Needs and Priorities of Two Key Generations: Millennials and Gen Z
Two generations who are currently dominating the real estate industry are Millennials and Gen Z. Millennials, probably the largest group of homebuyers presently are the key demographic real estate agents must focus on. On the other hand, Gen Z is just starting to enter the housing market, bringing new expectations and needs to the real estate industry. Understanding both generations will help you tailor your real estate marketing approach and succeed in this evolving market.
Millennials –
Millennials were born between 1981 and 1996 and are now in their late twenties to early forties. This places them in the prime home-buying age and as mentioned already the key demographic for your real estate brokerage. Millennials are known for their tech-savviness, desire for work-life balance and a preference for living in areas near top amenities.
When it comes to home-buying, most Millennials look for spaces that offer a blend of practicality and comfort. They prioritise features such as open floor plans, modern kitchens, and proximity to work, public transport, and good schools. Energy efficiency and smart home technology also top the list of Millennials, reflecting their interest in lowering utility bills and integrating technology into their daily lives.
Gen Z –
Gen Z, born between 1997 and 2012 is the newest generation to step foot in the housing market. Mostly in their late teens to early twenties, Gen Z is known for their digital fluency, social consciousness, and entrepreneurial spirit.
The home-buying preferences of Gen Z are shaped by their experience growing in the digital world. They reach out to real estate brokerages in Mississauga to help them find homes with high-speed Internet and smart home features. They also prefer modern, minimalistic home designs with unique architectural features or those that have a potential for customization.
Reaching Out to Millennials and Gen Z: Marketing Strategies for Real Estate Agents
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Millennials
When reaching out to Millennials, real estate agents should focus on the following social media marketing strategies:
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Leverage Facebook and Instagram
When it comes to social media platforms, Millennials are most active on Facebook and Instagram. Hence, your real estate brokerage must essentially make use of these platforms when connecting with Millennials.
Use Facebook to create engaging posts about home-buying, share housing market insights, and interact with followers/potential clients. Instagram is perfect for showcasing high-quality photos and videos of listing properties as well as sharing stories that highlight the lifestyle benefits of different neighbourhoods in Mississauga.
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Prioritise on Visual Content
Millennials are drawn to visual real estate marketing content that tells a story. Hence, real estate agents and brokerages must invest in high-quality photographs and also video tours of properties.
Highlight features in a listing that resonate the most with Millennials such as home offices, modern amenities, and energy-efficient upgrades. Use Instagram Reels and Stories to provide a quick and engaging glimpse into the latest properties in the market and your niche neighbourhoods.
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Share Testimonials and Reviews
This generation is highly sceptical of traditional marketing tactics and hence relies on testimonials and reviews before believing in a product/service. Hence, your real estate brokerage in Mississauga must share client testimonials regularly on social media and also incorporate testimonials in your email campaigns.
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Create Value-Driven Content
Share blog posts, infographics, and videos that offer advice on home-buying, market trends and home improvement tips in your social media channels. You can also try hosting Q&A sessions or webinars to attract Millennial buyers looking for expert guidance.
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Partner with Influencers and Collaborations
Millennial real estate clients are highly engaged with influencers, making them more likely to see and interact with your marketing clients. Real estate agents must look for influencers who align with the target audience’s interest to collaborate with and create engaging content together.
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Gen Z
When reaching out to Gen Z, real estate agents should focus on the following social media marketing strategies:
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Embrace TikTok and Snapchat
Just as Facebook and Instagram are popular among Millennials, TikTok and Snapchat are the go-to social media platforms for Gen Z. So, to target Gen Z, your real estate brokerage must use TikTok to create short, engaging videos showing homes, and provide home-buying tips. Snapchat can be used for behind-the-scenes looks at your top listings and real estate processes, offering a more personal touch.
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Focus on Authenticity
Don’t go for over-polished or sales-driven real estate marketing content with Gen Z. Instead, focus on creating authentic marketing posts that reflect the real-life aspects of home buying or the true side of a property listing. You must share as many personal stories (home-buying challenges and successes) as possible to build a true connection with your Gen Z audience.
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Highlight Smart Home Features
Gen Z is interested in technology and smart home features more than any generation. Hence, make it a point to promote properties with the latest tech innovations such as smart thermostats, home automation systems, and energy-efficient appliances to capture Gen Z’s attention.
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Promote Community and Sustainability
Gen Z is often characterized as the most socially conscious generation and is deeply concerned about environmental issues and social responsibility. Hence, your real estate brokerage must specifically promote properties to Gen Z that have eco-friendly features. You must also share content that reflects your commitment to social responsibility such as supporting local businesses or participating in community events.
Key Marketing Elements Valued by Both Millennials and Gen Z Homebuyers
So, as you have seen, both Millennials and Gen Z have their unique go-to platforms and preferences when it comes to real estate marketing. But there are certain key marketing elements that both the generations equally appreciate. First and foremost, both generations value honesty and clarity in property listings and want no misleading information.
Next, they expect engaging photos and virtual tours for listings to help them visualize the property and feel more connected to it. Personalization from the real estate brokerage in Mississauga is also important for real estate clients. Homebuyers of all ages and generations appreciate real estate marketing that speaks directly to their needs and preferences.
Finally, like always, prioritise quickly responding to inquiries and proactively updating all your real estate clients. By focusing on these elements, you can effectively connect with buyers across generations, ensuring your real estate marketing resonates well with everyone.
