Buying a home for the first time can be scary. It’s a huge decision to make, both financially and personally.
That’s why it’s so important for buyers to work with a qualified agent who can guide them through the process.
For real estate agents, the upside to working with first-time buyers can be summed up in one word:
You have the opportunity to kick-start client relationships that will last for decades.
When you really knock it out of the park and create a memorable experience for first-time buyers, they won’t forget you after the sale. They’ll be excited to recommend you to friends and family members looking to move. Plus, think of all the repeat transactions you’ll get when those buyers eventually want to upgrade from their starter homes.
Keep reading for four tips that will help you connect with first-time home buyers—establishing yourself as the go-to agent for this valuable niche.
The best thing you can do for first-time buyer leads is to be a valuable resource. And that means being able to educate them.
As an agent, you should know where first-time buyers tend to get ripped off. Share that information with your potential clients up front. That way, they’ll know you’re looking out for their best interest.
Give them an overview of the buying process up front. The truth is, many home buyers don’t quite know what they’re getting into. While they might have a rough idea of what to expect, they’re most likely going to have some blind spots.
As a real estate expert, that’s where you come in. Create blog posts or other resources that you can easily share with buyer leads. But you can also make an attempt to reach potential clients in other ways.
For example, you could host a workshop for first-time home buyers. You can set up an event like this at your local library, then advertise it in public spaces like coffee shops and community centers.
If you want to learn more about educational workshops, you should check out our recent webinar, 7 Steps to Super Workshops, which you can watch for free right now.
Win over their parents.
For agents looking to work with first-time buyers, the involvement of parents can be a double-edged sword.
On the one hand, parents often lend the financial support needed for the next generation to buy in the first place. On the other hand, a lot of those parents are probably going to want to be involved in the buying process.
Just like the buyers themselves, those parents want to know that they can trust you. Be available to answer any questions they have, just like you are for the buyers. Share information about listings with them, and be ready to provide an analysis of the local real estate market.
Apart from that, small gestures can go a long way. Greet them warmly. Reassure them about the great investment they’re helping their children make. Bring coffee (or their preferred beverage) to showings. If you’re a ReminderMedia customer, give them a promotional copy of your magazine as a gift.
In a way, these parents are also your clients. When you cater to them in addition to the home buyers, you’re creating a better experience for everyone involved.
And think about it: the parents you’re meeting may be looking to downsize in the near future. If you make a lasting impression on them, you’re practically guaranteeing yourself more listings in the future.
Align yourself with what they value.
If you’re targeting first-time buyers, most of the people you’ll be working with will be millennials. In order to attract their business, you’ll want to have an understanding of what they value.
Millennials like impact more than they like discounts (though they like discounts, too). Let them know how your business is impacting the community in a positive way. If you work with a local charity, tell them about it. They might want to get involved or make a donation.
For ReminderMedia customers, this is a great opportunity to use your magazine. You can create a custom back cover ad to spotlight a local organization that’s important to you.
Speaking of your magazine, Start Healthy is a great tool for connecting with millennial clients because it’s relevant to their interests. It includes articles about health and wellness topics, as well as delicious recipes in every issue.
Don’t neglect the possibility of connecting with first-time buyers on social media. You can run ads targeted toward younger audiences in your area, as well as people who have experienced recent life milestones (e.g. getting married or engaged).
If you need a little extra help connecting with the millennial generation, check out our free e-book, The Real Estate Agent’s Guide to Reaching Millennials.
Try farming techniques.
When you’re looking to connect with a specific demographic like first-time buyers, farming can be a great approach.
Create a Facebook ad, send out targeted emails, or try a direct mail approach with postcards. The idea is to send out relevant messaging to a large pool of buyer prospects, with the goal of converting as many of those leads as possible. As this happens, you’ll become known as a go-to agent in your farm—one who specializes in working with first-time home buyers.
Here’s a farming campaign you can start implementing today:
Show a photo of a listing in your farm. Lead with the caption, “Want to know how much you can afford?” Direct your audience to a landing page with a mortgage calculator. This will give buyers a better idea of what they’re in for, while also building trust in you as an agent.
If you’re a ReminderMedia customer, you can send postcards with messaging tailored to first-time buyers. But, even if you’re not a current customer, you can buy a multi-purpose list from us—giving you access to valuable buyer leads in your farm.
First-time buyers are a powerful demographic. Connect with them today, and your rewards will be great—now and in the future.