Attracting Millennial Buyers: What Sellers Need to Know

Attracting Millenial Buyers: What Sellers Need To Know

Unless you sell homes using a time machine, baby boomers aren’t your biggest customers these days. As the years pass, savvy home sellers adjust their tactics. Millennials are now one of the largest target groups of buyers and you need to be ready. 

But, what do sellers need to change about their approach? In this article, that’s exactly what we’ll talk about. You’ll hear strategies from realtors like Sandy Jamison, who’s witnessed buyer demographics shifting firsthand. Her experience shows that millennial buyers are often more tech-savvy, green-leaning, and focused on value.

But let’s go into more detail. Here’s what you and other home sellers need to know about attracting millennial buyers. 

We’ll help you attract more millennial buyers - photo via Canva

Home Seller Strategies for Attracting Millennial Buyers 

As the National Association of Realtors recently found, millennials are now the largest group of homebuyers. Millennials aged between 25 and 43 make up 38% of the homebuying market. That means they are surely worth your attention if you plan on selling quickly for a profit. 

On the other hand, the largest groups of sellers are Gen X  and baby boomers. 

  • Gen X (44 to 58) makes up 23% of sellers.
  • Younger baby boomers (59 to 68) make up 26% of sellers.
  • Older baby boomers (69 to 77) make up 19% of sellers.

In many cases, this means older generations are selling to much younger demographics. They may not always understand millennial needs and desires, which could slow down sales, attract fewer buyers, and impact profit.

Here’s how to avoid those issues and target millennial homebuyers. 

Don’t Forget Technology and Energy Efficiency

Millennials have been around technology for their entire lives, as we all have. The difference is the level of comfort and ease that millennials are accustomed to, which prior generations didn’t always have. 

We’re referring to smart home technology, like advanced temperature and lighting controls, and integrated security systems. Millennials expect these features to be easy to use and low-maintenance. This principle applies to technology, but also to your home’s features. Older systems could be a real estate turn-off for millennials, so you want to evaluate your property’s technology.

Investing in smart locks and tech that boosts comfort can add value. Millennials will probably want to install these features anyway, so doing it for them will make your listing stand out.

Smart thermostats are a great starting point - photo via Canva

Focus on Lighting, Open Spaces, and Minimalism

Millennials don’t always crave the largest rooms or sprawling square footage. Instead, it's about how the space is used. They often seek value over size, wanting to maximize what they can do in the home, not necessarily how big it is. 

You’ve probably heard several design buzzwords by now, like “open floorplan” or “modern minimalism.” These aren’t just catchy terms though. Many millennial home buyers prefer open spaces that allow free movement and better hosting. Clutter and over-furnishing may be the last thing they seek. 

Minimalism projects purpose-driven lifestyles, with function over frills. Spaces that adhere to this design style can be soothing (and more comfortable), which your millennial buyers often pay more for. 

Top-performing realtor Sandy Jamison sees this play out in her market too. “Younger buyers seem to prefer a home that doesn’t project value in furniture or decor. They want a clean slate, open spaces, and less obstruction between rooms.”

An example of a fairly minimalist furnishing and decor - photo via Canva

Add Value with Sustainability and Eco-Friendly Materials

Sustainable materials and eco-friendly homes are things that millennials look for (along with other age demographics). They can also add serious value to your property, so the benefits stack up.

You can increase sustainability in a few ways. For one, the more efficiently your home uses energy, the more sustainable it is. Also, you might opt to switch out less environmentally-friendly materials for sustainable ones. Solar panels are another way to make your home more sustainable and catch the eye of millennial buyers.

Of course, it’s natural to wonder about the cost of going green or being more sustainable. 

We’ve already covered eco-friendly upgrades that add home value in a very comprehensive guide. As you’ll see, not every upgrade delivers the same value. Pick one that fits your budget, then speak with local contractors to get quotes. Realtors can give you valuable insights too, like explaining just how much each upgrade could change your listing price.

Ready to Start Appealing to Millennial Homebuyers?

What we’ve mentioned is a great entry point for targeting millennial homebuyers. Some homes will already be in a great position to begin marketing, but others are far from ready. 

If you want our opinion, we’re happy to take a look at your property. In California, we’ve been buying and selling homes since 2008, working with the same people you hope to attract. Let’s discuss the strategy for your home.

More Questions? Follow Up With Us!

If you have more questions about what to expect from the markets around the Bay Area, don’t be afraid to reach out to us today. Our experts are experienced in all property types and the entire San Francisco Bay Area, and we can help you to find what you need to know today.

Contact Us To Learn More

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Post a Comment