Generation Y is now in their twenties and on the verge of becoming a large target audience for the first-time homebuyers market. USA Today recently published an article showcasing the fact that many real estate agents are shifting their advertising and marketing efforts to target this young crowd. For the most part, Generation Y is an untapped resource because homebuilders and real estate agents do not understand how to accurately target them. Yet, they are becoming a strong force in the homebuying industry with money to spend because they are well-educated and had higher starting salaries than previous generations, according to a report from the National Association of Home Builders.
Generation Y is the most technologically savvy generation that we have seen yet, considering they grew up on computers and surfing the Internet. In order to cater this new breed of homebuyer, you must be able to market yourself online. Effective Internet marketing does not mean only banner advertising and having a pretty Web site because these tactics alone will not have a significant effect on SEO or increasing traffic to your Web site.
To specifically target Generation Y, you should focus on a detailed social media plan and marketing relevance. Some marketing efforts that would be relevant to Generation Y would be increasing your exposure on Web sites frequently visited by these individuals. For example, you can post videos of model homes and communities on YouTube or make community pages on Facebook. These two sites are regularly visited by twentysomethings, and having a presence on them will definitely make this generation be able to find you easier and could be something to set you apart in the real estate industry.