Sponsored Partner Content by Movement Mortgage
Many of us have heard the myth, “millennials are not buying houses.” A recent study by Bank of the West, though, shows that four in 10 millennials (those age 21-34) are already homeowners. For us to get a slice of that pie, we need to update how we do business. Here are some ways that the next generation of homeowners are causing a shift in how we do things:
1. How we communicate
Because millennials have grown up in the digital age, they are very comfortable with communicating in that way. When working with millennials, you may notice that instead of calling they’d rather text or message on Facebook. Make sure you download the Facebook Messenger app to your smartphone to make sure you are being notified when potential clients message you.
2. How we get leads
Many leads now come through search for reviews and houses. So, make sure you have a profile set up on major housing sites like Zillow and are asking for reviews on those sites. When it comes to your website, utilize lead capture options available through landing page funnels to get client data to add to your CRM. Also, make sure that you have a presence on major social media platforms like Facebook and Instagram as many referrals are coming through those sites.
3. How we educate
Many millennials do not have the knowledge of what they need to buy a house, so they wait until they get that 20% down payment. Want to help millennials feel empowered to get into a home sooner? Record videos, go Live on Facebook or create a group on homebuying, don’t just host in-person events, to reach this audience where they are.
4. How we take applications
Most of what millennials are looking for is speed and ease. One way we do this is by starting the application process online (we call ours – EasyApp, check it out here). We are also introducing a way to speed up the closing process through EasySign, where borrowers can sign (most of) their closing documents prior to coming to the closing table.
5. Where we spend our advertising dollars
In the past, we spent our advertising dollars in mostly print publications as well as places like TV. That’s not where new homebuyers are though. They’re online. So, if you haven’t already, start getting creative and utilize lead funnel options on your websites, CRM, and take advantage of Google and Facebook ads to ensure we have a strong digital presence.
To wrap things up, Millennials are buying homes, but the recession, student debt, and lack of knowledge have caused them to purchase later. To help them, we need to make sure we are on the platforms where we will best reach them and educating them on all loan options as well as the benefits of renting vs owning, and helping them feel that, yes, homeownership is possible.
Movement Mortgage, LLC supports Equal Housing Opportunity. NMLS ID #39179 (www.nmlsconsumeraccess.org) | 877-314-1499. Movement Mortgage, LLC is licensed by AL # 21022, AK # AK39179, AZ # 0918544, AR # 105002, “CA Department of Business Oversight under the California Residential Mortgage Lending Act” # 4131054, "CO Regulated by Division of Real Estate", CT # ML-39179, DE # 012644, District of Columbia Mortgage Dual Authority License #MLB39179, FL # MLD200 & MLD1360, GA # 23002, HI # HI-39179 & MS205, ID # MBL-8027 & RRL-9397, "Illinois Residential Mortgage Licensee" # MB.6760898, IN # 18121, IA # 2013-0023 & 88883410, “Kansas Licensed Mortgage Company” # SL.0026458, KY # MC85066, LA, ME # 39179, MD # 19094, MA Banker & Lender # MC39179, MI # FR0018717 & SR0020189, MN # MN-MO-39179, “Mississippi Dept of Banking and Consumer Finance" # 39179, MO # 16-2096, NE, NV # 3402 & 3401, Licensed by the New Hampshire Banking Department 20985-MB, “Licensed by the N.J. Department of Banking and Insurance", NM, “Licensed Mortgage Banker-NYS Banking Dept” #B500997, NC # L-142670, ND # MB102519, OH # SM.501922.000 & MB.804187.000, OK # ML002646, OR # ML-5081, PA # 34374, Rhode Island Licensed Lender, Broker and Servicer 20153194LL & 20153195LB & 20153196LS, SC # MLS-39179, SD # ML.05007, TN # 112748, TX, UT # 7773921, VT # 6862 & 39179-1, VA # MC-5112, WA # CL-39179, WV # MB-32019 & ML-32020, WI # 39179BA & 39179BR, WY # 3104. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company. 8024 Calvin Hall Rd, Indian Land, SC 29707.