Smart Home Trends and Marketing for Millennials in 2021

By Victor Whittle

Millennials  are  the  most  powerful  group  when  it  comes to the real estate market, and they’re expected to continue to be in the coming  years.  The  reason?  They  are  the  main  home -buyers,  they  know  what  they  want,  and  they  aren’t  afraid to ask for it. Therefore, it is extremely important to understand how to market to this group.

Something  to  keep  in  mind  is  that  numerous  millennials  are  only  starting to look for their very first home.  Plus,  with  current economic  issues,  they  will be especially interested in finding the best prices available. However, this doesn’t mean that technology can be pushed aside. On the contrary, technology and the digital world are the bread and butter of millennials, and connecting with them from this perspective is essential. 

This  is  why  many  millennials  have  taken  a  liking  to the suburbs. Here, they are more likely to find good prices without having to sacrifice  their  tech  needs.  Plus,  a  search  for  more  open  environments  and  less  utilitarian  homes  has  skyrocketed  after the lockdowns imposed during 2020. Here are a few trends to keep in mind when it comes to marketing to millennials.

Marketing Trends

Digital Will Continue to Be the Preferred Media

The  best  marketing  strategy  to  get  to  millennials is to adopt digital  and  make  it  your  own.  From  social media to websites and  apps,  this  is  the  language  millennials  prefer. Plus, there have  been  numerous  developments  in  this  context and now you  have  multiple  tools  to  show   real   estate   properties  all online.

These  include  virtual  tours  and  even  the  use of virtual reality  to  allow  prospective buyers to get a fuller sense of the property they’re looking at. In addition, you should make content your friend. Millennials appreciate value; therefore, offering useful tips and real estate information can be one of the best ways to connect with this group.

Houses Will Sell Faster than Before

The  past  year  might  have  affected  the  income  of  millions  of  people,  but  it  also had an impact on housing prices. In addition, conventional loan requirements have become less strict, allowing buyers to get access to loans more efficiently.

This  all  translates  into  a  dynamic  market  in  which people are looking to make the best of the low prices. In addition, the exodus from  the cities to more open areas, such as the suburbs, is also a driver of this trend. This means that marketing strategies need to be direct, efficient, and timely to generate more leads.

In  consequence,  lower-priced  homes  that  have  been  hard to sell in the previous years might receive more offers. This is further fueled  by  the fact that older generations have shifted their behavior. Instead of choosing a retirement home, they are choosing at-home  care  more  frequently.  Therefore,  expensive  houses are  not for sale, while lower-priced options are now the most sought-after ones.

Investing in Real Estate Will Continue to Grow

Millennials have shown increased interest in investing their money  and  making  it  work  for  them. Although the stock market  continues  to  be  a favorite, real estate investing is not  to  be  discarded.   While   less   traditional   than  their parents,   millennials continue to value real estate. They will need    access    to    unprecedented   tech  gadgets   to  be convinced  of  making  a good purchase, but in some cases even    selling an inherited property    in   order   to  choose another modern house.

Smart Homes and Millennials

The Environment Matters

One  of  the  main  reasons  why  smart  homes  are so important for millennials is that they come with considerable environmental benefits.   A smart  HVAC  system,  water  recycling,  solar  panels,   and  even  smart  gardening  systems  are  highly  valued  by this generation. These systems are designed to reduce waste, recycle, and minimize their carbon footprint.

As a generation openly concerned about climate change and highly invested in taking care of the environment, turning their homes into smart systems  is  a  perfect  marriage  between  their  desire to invest and their ethics. This is very important when it comes to millennials as they often look for a connection with their purchases and a house would not be the exception.

Gadgets for a Practical Life

There  is  an  app and gadget for every need now. Smart homes should  include  keyless  locks,  mobile-controlled  systems, and remote  controls  for basically everything. Keep in mind that this tech-savvy  generation  adapts  to  technology  very quickly. This allows  them  to  understand and make the most of any gadget. Plus, they’re willing to pay a bit more for these benefits.

Millennials  are a powerful generation looking to invest in affordable real estate that allows them to access all the tech gadgets that make  part  of  their  daily  lives.  Reaching out to them through digital platforms is a sure way to get their attention, but connecting with them and their values is what is truly going to lead to success.

About the Author

Victor  is  a  real  estate  investment  specialist,  with  more  than  four years of experience in the industry, specializing in real estate purchasing processes. Currently works as a Business Development Manager at Prospect Group.

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