How can Realtors help – Two years, two years, got to it for two years and you got to claim it on your tax returns because if you don’t pay the IRS, it doesn’t count.
Ok, well, that’s something to keep in mind for for my next fourth side hustle that I have. So thank you for that. Yes, sir.
Like we said earlier, the millennial wants don’t change a whole lot from previous generations at the front of their mind still is is a affordable house and in good condition and a convenient location. Right. It’s all about price, condition, location. Same thing that a lot of people are looking for.
But how we market to them may be a little bit different. So I think one of the things that Acquisto does really well and has done really well in the past five, 10 years since the big up and coming social media is, you know, every real estate agent with a question has got their own Facebook page.
They have, you know, from what I understand, the freedom to make their own content. See a lot of people going live from open houses, from new listings, you know, things like that. Lots of great pictures that, of course, the real estate puts on their listings. Some of the best that I’ve seen drone footage know hands down, all that good stuff.
You guys do a phenomenal job doing that. And I know you couldn’t do it without a lot of support players. I know Megan does a great job with social media presence, guiding, mentoring, putting content together. I think far and away in this area, Acquisto Real Estate sets the standard for social media presence. I think it’s classy, it’s timely, it’s frequent. They do a great job now.
So I think continuing to do that is huge and it will only get bigger over time. So to shout out to Kristofor for you guys being on top of that so far, they will prefer probably text communication.
So I know this is probably already a huge part of your lives. But, you know, it’s funny. I can call somebody in my industry. I can, I guess, be an insurance agent. I’ll call somebody three or four or five times, leave voicemails, send the emails. But I get a response only when I send a text message and they text me back in like 30 seconds. I’m like, I’ve been trying to reach you for three days.
I send you a text message and then you respond in 30 seconds. That’s how we connect. That’s how we interact with each other. So different generations and different people, depending on what they’re doing, where they’re at in life, want to be engaged different ways. So one of the things that we have a problem figuring out is how my service team can best interact with clients.
And the solution that has come up with is scheduling a phone call so they don’t want to wait on hold. You don’t want to call in. That’s inconvenient. It’s not time efficient. You can go online and schedule a phone call. So maybe think about some different ways to communicate or interact with or engage your potential buyers, sellers and other people that you work with, you know, but in here, I apologize.
I really struggled with this because I’m a huge face to face guy. So I took me a long time to get used to how to adopt this technology. And one of the things I don’t remember, I’m not going to take credit for this because this wasn’t me. But one of the things I learned from from someone else, it was a realtor and a camera who was they said phone calls are for anything conceptual where we have to talk through things for understanding text messages, our first scheduling and for small details. Hey, I’m going to meet you here.
Hey, we’re going to see this house is the address and emails for anything that is numbers or detailed base. So this is the comps of the house. This is the area. These are photos. This are the terms of the loan.
So that way the client could understand, hey, if I have a detailed question, I actually pick up the phone. If we’re meeting somewhere, I don’t know where to go. I’m just going to text you. I’m going to text, hey, where are we going? And then versus like Annie, the cops not going to text you the cops, but email to. So you have a record of that you can go through in further detail. So that really helped me.
And it’s much easier to pull up on a desktop where you can have multiple screens and everything else. So, yeah, that’s that’s awesome. Thank you for that information. Let’s learn how to communicate more effectively. Ithink that’s that’s great. But it’s tough and we’re already doing a great job, huge social media presence. But yeah, just just engage your brain on different ways to communicate with clients. So text communication.
How can Realtors help
Millennials are actually willing to wait longer for the perfect home as well. Oh, yeah. So from what I read and the research that I’ve done, they were they’re willing to wait on average up to a year and a half on the house hunt to find that perfect home or what they would call a banger is what they would call the house a banger of a house.
Yeah, I’ve I’ve heard that totes let them know him there. They’re willing to wait longer.
So just I apologize for my generation. I know you guys are real estate agents. You’re in the transaction based business. You know, you don’t make money until the house is bought or sold. So I apologize for my generation, but helping them find the right one is obviously going to pay off.
So, you know, finding out what people value, what they’re willing to pay extra for. For me, Stella, having a backyard, our little shiatsu was very important to me, so I wasn’t looking for a condo, I wasn’t looking for anywhere with too small of a backyard space. So and I know you guys already do a great job with this. You guys are all very successful. So you know how to figure out what people want, what they value, but just know that it may be a little bit different when it comes to millennials than the answers that you’re used to hearing.
Do you mind if I share the personal conversation we had with you and your wife when you guys bought your first house? Yeah, let’s do it. So I ask I ask everyone to go so I can make a decision to buy a house. And it was like this long pause. And I was like, and Veronica goes for our dog. And I’m like, OK.
And if you wonder why you hear on the radio and you see on TV commercials showing a man and a woman with a with an animal, because studies show that the main driver for millennials is buying a house is for their own space for animals, which is mind blowing for a lot of the older generation because they would never say, I’m going to buy a house for thirty pound dog. Right. They wouldn’t say that. So that’s a whole new thing to think through when you’re working with those clients, because they may not be able to verbally communicate it immediately.
But that’s a huge driver for them when you ask them, do you guys have any pets and start to work it out of them so that you guys can address that on the front end.
Yeah, no, thanks for saying that. I almost hate to embarrass me now. I’m proud of that, but yeah.
So, like, I’ve seen a lot of listings on Zillow and things like that, that list like Backyard Oasis or Open Floor Plan. How about you know, I haven’t seen a whole lot yet. I’m calling it if I can keyword search spacious backyard, great for pets. You know, those kinds of things. Those are the types of things that will appeal to the younger generations, the next generation of home buyers or millennials in your Johns’s hashtag or hashtag doggy door. Throw some hashtags on the on that one. They call it the Zillow listing.
Does it work out? Does it work? I don’t know.
I think we should make it a thing, though, if it isn’t already, you want to hear something embarrassing.
So for the longest time I called it a Pontac because it’s the pound sign until my son corrected me. That was a hashtag. I still prefer Pontac. But yeah.
Well, I mean, you’re on kind of the edge of the millennial generation, so I’ll give you some leeway. OK, I appreciate it, but also be aware. So Millennials and Johns’s, they will self educate. This is something that I’ve struggled with a lot in my business is they’ll do a Google search on insurance companies and they will try and self educate to the nines. And then they’ll come at me and I’ll be like, no, that’s not actually how it works.
Things differ by state. I’m sure it happens a lot to you, too. Like, hey, I read that Fannie and Freddie are doing this or this is supposed to be my interest rate. Why can’t you give me that interest rate, you know, those kinds of things. So just be aware that they’re going to self educate.
But yeah, no, go for it. So earlier this week, Shana talked about some current events that impacted the, what would you say, reputation, a group, an association of professional realtors. Right. So I think this is a great example. This is one reason why it’s so important to be up to date on current events and not just like surface level, but understand some of the details, because the millennials, that’s what they’re doing.
They’re clicking on these Facebook pictures and these Facebook articles and they’re going to Google News. They’re going to Yahoo! News. They have streams set up in the reading these things. I get it all the time. Hey, this is what I read on X. This is where I read on Y.
So being in front of that and really, you know, talking addressing some of those issues up front, I always point them to like Fannie Mae and Freddie Mac because those are the agencies that purchased the loans. And I’m sure for realtors it’s a very similar thing. But kind of just be aware that there’s tons going on that are affecting our reputation, our ability to do business, that our clients, the millennials and GenZE, they’re very in tune with their very in tune with that. That’s why it becomes a big deal.
Yeah, absolutely. Yeah. Thank you for that. Yeah. Self education is a huge thing for this generation, so just be aware that it’s happening and you will get questions. Yeah.
So millennials are also influenced by peers easily so which is great for referrals. I mean there’s no other ifs, ands or buts about it. We’re very likely to take referrals if a friend or family member had a good experience. So leverage that to every advantage. I know that’s a huge focus for you guys. It’s basically free business, very low acquisition cost for new clients. So double check that you always ask for referrals whenever you work with, especially when you’re working with a younger generation.
That’s interesting, too, because I see a huge split between when you look at some of the older generations, there are a lot of the home buying process they keep close to their chest. It’s very private, very. They prefer not, they don’t. More of them would prefer not for it to be public knowledge.
They don’t want it on Facebook, just bought a half million dollar house or whatever it is, versus the millennials in the GenZE. They will want to share. They want everyone to know. They’re going to tell all their friends about you. So it is so important that that entire client experience is phenomenal, from insurance to title to your experience to lender, because the likelihood of referrals from millennials and GenZ is significantly higher. Significantly higher.
Yeah, absolutely. And I can tell you from experience, I always ask for referrals.
First, ask from a lot on Facebook when I’m texting with my friends, like, hey, you know, I’ve connected some of my friends with you, some friends with their questions, too. So, yeah, it’s great.
And then just a couple of key tips. These are actually this is an article that I found when looking. I just Google searched realtors working with millennials tips. Right. And a couple of things that I didn’t think about. Number one, whenever we’re selling a house, when we’re representing the sellers, we want to make the house appeal to obviously all generations.
So there’s obviously different decor and styles and colors of cabinets that appeal to different people. But just some small things that we can do that maybe cost a couple of dollars here. And there are a number one, swapping out wall outlets for a USB outlet. So there’s a little socket you can get where you have your plugs and then there’s two USB outlets in the middle.
So maybe in high traffic or or areas where people will be using mobile devices a lot next to a couch, maybe in the kitchen next to your bed, those kinds of things. Putting those USB outlets in could be the difference between two houses that somebody is looking at. And it’s not that big of a deal. But if it’s already done for them and they see it, they’re like, oh, my gosh, that’s pretty cool. Yeah. So millennial spending a lot of time on Facebook drains that phone battery quick. We need a place to charge our phones always.
You know what?
We’ll give you a chance card. This is an appropriate time. You were looking at jobs, but ended up streaming videos for hours.
Hey, you talk about smartphones. That trap happens all the time. In fact, USC just did a huge health study on smartphones. The use of smartphones is directly correlated to mental laziness. And in twenty nineteen, the average millennial spent three and a half hours on their smartphone a day. So understand that college right on.
If you can make a home more friendly and cater to that, you’re going to have a significant advantage.
Yeah, we also like new or smart technology. Any types of home automation, home security systems that are smart. We’re huge proponents of that will self educate on all the different systems out there. But if the House already comes with one, especially if it’s top of the line or highly recommended, like a ring and Nestico B, whatever it may be, will naturally be drawn more towards that.
So smart thermostat, smart doorbell camera, those kinds of things will appeal to us very greatly. For a former living so like in Plano, Richardson, as the houses get a little bit older. Formal living rooms were a thing, and millennials don’t really value that, right? Younger generations don’t.
So maybe Stageit or stageit as like a lounge or a hang out with a pool table, ping pong table, whatever it may be. Just think about different ways to maybe set the stage for a potential buyer. That may not be a second living area other than the one that is already there. So just think about different ways we can maybe stage that or even just mentioned in the description form.
A living can be used as a lounge, hangout spot, you know, dog playroom, whatever it may be. And then, yeah, I already mentioned adding something to the Zillow description to the MLS listing large backyard for pets, pet friendly, those kinds of things. Those are very, very good keywords that I would search as a millennial if I have a pet.