{"id":476,"date":"2012-07-02T10:53:53","date_gmt":"2012-07-02T17:53:53","guid":{"rendered":"http:\/\/blog.corcorancoaching.com\/?p=476"},"modified":"2018-07-13T15:09:43","modified_gmt":"2018-07-13T20:09:43","slug":"marketing-to-younger-first-time-buyers-can-pay-off-2","status":"publish","type":"post","link":"https:\/\/www.corcorancoaching.com\/blog\/marketing-to-younger-first-time-buyers-can-pay-off-2\/","title":{"rendered":"Marketing to Younger, First-Time Buyers Can Pay Off"},"content":{"rendered":"

With the fed taking over Freddie Mac and Fannie Mae, many predict – and we’re among them – that interest rates are going to drop. We\u2019ve already seen some lowering and that may very well continue.<\/p>\n

One result of this, we believe, is that we\u2019ll see more first-time and younger buyers who\u2019ve been waiting on the sidelines finally make their way into the market.<\/p>\n

Are you ready to help them?<\/p>\n

You might be saying no, simply because of your age. NAR reports the median age of Realtors is 52, but the median age of buyers is 39. NAR also reports first-timer buyers accounted for 39 percent of the home purchases in 2007 and 68 percent of these buyers were under 35 and 89 percent were under 45.<\/p>\n

So you older agents will have to get with the program if you want to work with these folks.<\/p>\n

Here are a few tips to help you position yourself to work more successfully with these younger buyers.<\/p>\n

    \n
  1. Be an educator. Too many agents are what is\u00a0 call \u201cPop Tart\u201d agents. They get a call from a prospective buyer and they pop right up and go show homes. Hold on a minute and get to know these\u00a0 first-time buyers. They\u2019re already a little tentative and skeptical because of all the bad news they\u2019ve heard about the real estate market. No one wants to feel pushed into something. Educate them on the basics of\u00a0 home buying and all the advantages of home ownership versus renting to alleviate their anxieties and get them on your side.<\/li>\n
  2. Get them pre-qualified for a mortgage.\u00a0 \u00a0Another way to relieve their anxiety is to get them pre-qualified. First,\u00a0 it saves you a lot of time, but it also shows the buyers where they are \u00a0\u00a0\u00a0\u00a0 financially and what they can actually afford. But also realize that\u00a0 they\u2019ll face more scrutiny in light of all the ado in the lending\u00a0 industry. And approvals are only lasting about 30 days.<\/li>\n
  3. Get more web savvy. As you might guess, the younger generation does practically everything online. Most of them\u00a0 actually grew up on it, so make sure your site and listings can be easily \u00a0\u00a0\u00a0\u00a0 found on the web via search engines. And know it\u2019s likely they\u2019ve spent a\u00a0 lot of time researching homes on the Internet before they ever talk to\u00a0 you. Plus, they like communicating via the phone – and not just talking,\u00a0 but texting. So if you haven\u2019t learned how to text message on your cell\u00a0 phone, you better get to it.<\/li>\n
  4. Understand their motivation. NAR reports younger buyers buy primarily because they want to own their own home or\u00a0 \u00a0establish a new household. Seventy-four percent reported this as their \u00a0\u00a0\u00a0\u00a0 primary reason to purchase. So in marketing to first-time home buyers,\u00a0 \u00a0focus on the American dream of owning a home versus the downside of renting.<\/li>\n
  5. Understand their nuances. Every generation\u00a0 has little quirks and the younger generation certainly has theirs. For\u00a0 one, they\u2019re more casual \u2014 which doesn\u2019t mean you should wear jeans \u2014 but\u00a0 be careful not to overdress. They also tend to like things quickly and\u00a0 efficiently. They\u2019ve grown up in the push-button era – you want something,\u00a0 \u00a0just push a button and it\u2019s there, fast. So take out any wasted space and time in your presentations and be able to complete the sale as quickly as possible. And have monthly payments factored out with maybe three or four \u00a0\u00a0\u00a0\u00a0 different scenarios. You might even consider an annualized plan – how much the home will cost them in a year.<\/li>\n<\/ol>\n

    The key is to always listen closely to their needs, verify what you heard and then act accordingly, and you\u2019ll do great.<\/p>\n

    Best of luck to you!<\/p>\n

    Corcoran Coaching<\/a> is an international consulting and coaching company specializing in performance coaching and the implementation of sound business systems for small business owners, including residential or commercial brokers, teams or individual agents. Learn how to create and implement cost effective operational, business and sales systems that have a proven decades-long track record of successfully driving you to your next level of sales productivity.<\/p>\n

    Isn\u2019t it time you invested in yourself to be as successful and effective as the top producers? Success is just a phone call away. Call today at 1-800-957-8353 or email us at SuccessTeam@CorcoranCoaching.com<\/a> to start the conversation and get your no cost, no obligation business consultation<\/a> with one of our experienced professional success coaches.<\/p>\n","protected":false},"excerpt":{"rendered":"

    With the fed taking over Freddie Mac and Fannie Mae, many predict – and we’re among them – that interest rates are going to drop. We\u2019ve already seen some lowering and that may very well continue. One result of this, we believe, is that we\u2019ll see more first-time and younger buyers who\u2019ve been waiting on…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[9,11,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34],"yoast_head":"\nMarketing to Younger, First-Time Buyers Can Pay Off - Real Estate Coaching Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.corcorancoaching.com\/blog\/marketing-to-younger-first-time-buyers-can-pay-off-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marketing to Younger, First-Time Buyers Can Pay Off - Real Estate Coaching Blog\" \/>\n<meta property=\"og:description\" content=\"With the fed taking over Freddie Mac and Fannie Mae, many predict – and we’re among them – that interest rates are going to drop. 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