Real Estate: A Millennial Perspective

Who are the Millennials? Generation Y Born between 1982-2000 Nationwide: 76 million Minnesota: 1.5 million 1 in 4 are a person of color

Millennials continued… High education level

Based on education, MN millennials are ranked 7th compared to other states

Poverty rates higher than previous generations College loans Inflation

Average salaries for 22-33 year olds $22,000-$40,000

Work Habits/Environment Multi-tasking Team-oriented Collaboration with leader/boss Fast-paced Foster social/creative interaction Provide learning opportunities Provide meaning in their work

What Do Millennials Look For??

In Businesses… Corporate Social Responsibility

It increases trust, loyalty and likelihood of making purchases by 88%

Affects where they choose to work and invest

Areas of importance Poverty and hunger Economic development Environmental Preservation

In Housing…Top 5 aspects

1. Cost of Living2. Atmosphere/walkability3. Proximity to work/school4. Transportation5. Night life

Top Millennial Cities Current locations

Minneapolis St. Paul Brooklyn Park Bloomington Burnsville Plymouth

Preferred Locations Minneapolis St. Paul Minnetonka Eden Prairie

When House Shopping… What resources do they use?

78% will go to the internet 33% will utilize a realtor 19% would get parental advice 16% will canvas neighborhoods

Mortgage Parents tend to be involved less than 25% of

the time They may not have credit, but you can set

them on the right path Prequalifying through loan officer Identify plan to become eligible for mortgage

School can count towards work history Ability to focus on something full time Perfecting a talent

Loan programs with as little as 3% down

Preferred Communication

The Tech Generation Technology is the Millennial way

Smart phones, tablets, computers, game systems Methods of communicating:

Text messaging Social media Instant messaging Facetime E-mail Phone calls Voice chat

Purpose of Social Media

Engage with friends and customers Sharing events and pictures Promoting your business See what is trending Communication Get news

Content Rule of Thumb

70% fun and engaging

30% work related

Facebook Marketing Create a business page

Multiple important features! Make sure logo is in cover photo Engage with others with similar

interests Connect page with other social media Be consistent!

Facebook Content Vary content to gain traffic Utilize the content rule of thumb! Visual content is the most effective

Pictures, videos, infographics Be wary of copyrights and video formatting

Twitter #Marketing Content should be succinct and creative Use links to personal content and retweet

others Interesting facts about location, food,

atmosphere are popular Use pictures and videos to display listings

Do not only post listings! Be social! Utilize fun content Hashtags - #EdinaRealty

Instagram Connect to other social media Follow the content rule of thumb! Engage with the community Utilize Instagram Direct to send content

to specific people Use the Photo Map to show connection

to your community Use short videos to show off listings!

Pinterest Great for visual content! Connect to other social media sites Use high quality pictures and good keywords/hashtags Have different boards to:

Attract buyers Attract potential sellers Display personal interests Promote business

Engage with people in your area or with similar interests – Pin it!

Advanced users utilize Rich Pins

Snapchat Pictures or short videos

Last from 1-10 seconds Placing in story will store them for 24 hours

Can send useful information to clients Can type or draw information on images Post pictures and videos of listings Show personal interests Post Snapcode to other social media One of the top downloads for apple and android Promote contests

Social Media Platforms Facebook Youtube Snapchat Instagram

Twitter Pinterest LinkedIn Google+

Hootesuite Manage social media from a dashboard Connect multiple platforms Schedule posts Analyze traffic

Panel Participants Carlos Salinas

B.S. in Respiratory Therapy Respiratory Therapist

Chris Whitley B.A. in Business Admin - Operations & Supply Chain Operations Specialist

Kevin Moturi B.S. in Biochemistry Mobile developer

Samantha Baker B.S in Psychology and Family Studies Shift Supervisor/Residential Supervisor Assistant