Let’s face it: Connecting with Millennials can be a challenge. Of course, if you’re a billionaire tycoon in Australia, you might believe that they are not worth your effort because Millennials are more interested in avocados than home buying. The National Association of Realtors® (NAR), however, recognizes that Millennials purchase real estate. In fact, over the last few years, Millennials have represented the largest slice of home buyer pie at 34 percent – many of whom are first-time home buyers. With this fact established, NAR has turned attention and advertising dollars towards this specific target market.
NAR’s campaign faces three primary goals:
- Prove Relevance – Why it’s necessary to have representation in the home buying process.
- Raise Awareness – Real Estate Agent vs. Realtor®.
- Spur Action – Motivate Millennials to purchase a home through a Realtor®.
NAR has attempted to tackle these tasks by partnering with the ultra-successful television series Modern Family, specifically with character Phil Dunphy, Realtor® extraordinaire. While the campaign, a combination of product placement and commercials, is still ongoing, here are some of the preliminary results:
Of course, as a real estate professional your budget may not be quite as high as the National Association of Realtors®. If you would like some information, tips and tricks for real estate marketing to Millennials on a budget, please check in next week for our Top 5 Tips for Real Estate Marketing to Millennials.