Millennial homebuyers may be the apple of every agent's eye right now, but it doesn't hurt to prepare for the next generation of potential clients.
According to recent reports, knowing how to market to Generation Z could be a boon for agents in the years to come.
The group of digital natives could make up a significant portion of the market sooner rather than later, based on a new report from realtor.com®, which found that
40% of surveyed Gen Zers are planning to purchase a home in five years. Forty-five percent of respondents in the survey also indicated they are already saving for a home.
According to the National Association of REALTORS®
Home Buyers and Sellers Generational Trends Report 2021, Generation Z made up 2% of the buyers and sellers last year. While that pales in comparison to other generations right now, it's a sign the group already values homeownership.
For agents looking to plant the seeds for a new crop of clients, consider the following when appealing to this fledgling generation of buyers.
Meet Them Where They Are
When marketing to this generation, understand where their eyes are focused. Social media is a big deal to Gen-Zers as they grew up using it along with mobile devices.
The group tends to gravitate toward video content, making channels like Snapchat, TikTok and YouTube their platforms of choice.
According to recent Statista research,
Snapchat was the most popular social media platform among Gen Z in 2020, with TikTok and YouTube ranking second and third, with 91% and 87% of respondents respectively using these social networks to connect with others and consume content.
Focus on the Visuals
When it comes to capturing Gen Z's attention,
video should be a critical component of an agent's marketing strategy.
Virtual tours and listing videos are essential but don't stop there. Short and sweet videos with catchy music, exciting filters and engaging content will be key to marketing for agents. Find ways to inform and entertain them with content that highlights your brand and the value you can bring to the table.
Embrace Engagement Strategies
Whatever content and marketing strategies you decide to implement,
promote engagement and interactions with Gen Z. This generation not only wants to be entertained, but also wants to interact online.
Develop hashtag campaigns and giveaway contests that will spark the Fear of Missing Out(FOMO)effect. Agents can also leverage Gen Zer's desire to interact with surveys, polls or live stream Q&As. The added benefit is you can use these methods to gather data on their likes and preferences in home-buying.
Connect With Your Personal Brand
Generation Z is seeking a connection—with people, brands and products—which creates an opportunity for agents and brokers. A strong brand identity is essential to standing out with this group, so long as it's authentic and entertaining.
Show your knowledge and engagement in the communities you work in by posting daily PSA's on Snapchat. Have fun dancing to a catchy tune on TikTok while showing them how to get pre-approved for a home. Develop a YouTube Channel where you talk about offering tips and strategies to enter the market.
Don't be afraid to inject your personality with your online presence too.
Jordan Grice is RISMedia's associate content editor. Email him your real estate news to jgrice@rismedia.com.
