The age of internet
Millennials, also known as ‘madot-com’ or ‘mavijana’ have beaten their own record of having solutions and answers to every question that could possibly exist. Having the internet has made everything easy for them and thus, they are better placed to analyze and make informed choices on every aspect of their lives including real estate. Research shows that as of 2018, 66% of home buyers were 36 years old or younger. Most noteworthy is the fact that every single one of them began their home search on the internet.
When dealing with millennials as a realtor, it is paramount to note that they have different expectations from your other home buyers. They are unique and outstanding. Therefore, to be able to firmly pocket them as your clients, you need to be tech-savvy and an overall master at selling homes through social media.
Communication is Key
Millennials incorporate technology into everything they purchase, including homes. They expect their real estate agent to be a tech-guru who is articulate and precise. Once a millennial calls you to make enquiries, you have less than 30 seconds to respond before they call another agent to help them. That is to say, millennials expect quick responses and as such, you have to measure up to their expectations if at all you want their money.
Where do millennials want to live?
A hard-working young family man does not want to spend his weekends holed-up in a squeezed apartment with neither water nor fresh air. In Nairobi today, the tide is slowly shifting to the suburbs of posh estates like Lavington, Kileleshwa or Kilimani. Apart from comfort, what millennials want is close proximity to work. If you can help them minimize the hours they spend on roads due to traffic, your work is half-way done. They have busy social schedules and would rather spend their after-work hours chilling with the crew or working out at the Gym. Anything but traffic!
What features are millennials looking for in a home?
One thing that is certain is that they need a professional realtor to guide their Home choices.
Best believe that millennials will pass up on a home with good value and long-term financial gains because the house needed some paint. They love new, shiny surfaces and a clean fresh look. They do not have money to re-do the kitchen cabinets or bathroom floors and they are NOT interested in fixer-uppers. A millennial loves a home whose design looks like it was lifted straight out of a magazine.
Generation-Y is looking for an open floor plan, a home office, and a large spacious kitchen. As widely shared, millennials want to get their money back as soon as possible and that won’t happen if they do any major renovations.
Smart homes
Any house with technological features is a plus for millennials. In Kenya today, a home with installed wi-fi sells like hotcake. Upgraded security systems also attract young home buyers along with a fully-equipped gym, a solar hot water system, a swimming pool and an elevator.