A recent study published by the Statista Research Department reveals that a considerable percentage of Generation Z has already moved out from their parents' home to live alone, with a roommate or a partner. If you're a property developer or a real estate agent, here's what you need to know to gain a better understanding of the latest demographic trends and marketing campaigns that are specifically targeted toward this group of home buyers.
Virtual House Tours
One of the most interesting findings from Hommati shows that 97% of Gen Z hopes to have their own home in the future and a huge chunk of them are embracing the use of real-life footage to explore a property of interest at the comfort of their beds. Virtual tours have started to gain more traction among tech-savvy Gen Z during lockdown times as they offer a more dynamic and realistic house-hunting experience, without the risk of exposure to the COVID-19 virus.
Furthermore, various analysts from PropertyPal believe that incorporating virtual house tours in a homebuilder marketing toolkit helps realtors close more deals and cuts travel time to zero. Other tech tools are also providing ways for potential homebuyers and investors to have an even closer look at buildings and help them visualize the surrounding areas in real-time. This gives Gen Z clients a chance to thoroughly explore the property along with its surrounding location before they sign on the dotted line.
Leverage Social Media Platforms
Having grown up with the use of technology in their daily lives, the Internet has shaped every aspect of Gen Z's existence. When marketing to this generation, experts from RisMedia emphasized the importance of utilizing TikTok, Snapchat, and YouTube in order to enter the Gen Z market and stand out with this group. This group of individuals are known to have very short attention spans, so it is important to grab their attention as quickly as possible and present probing questions to uncover their primary needs.
Another way to appeal and create a buzz among members of this generation is to post photos and positive testimonies of happily housed customers on social media. Moreover, having an up-to-date website that is optimized for mobile browsing is equally important to reach younger potential clients, as research from the National Retail Federation shows that 60% of Gen Zers said they would leave a website if it's difficult to navigate or is taking a long time to load.
Real estate professionals should fully embrace electronic processes and establish their digital presence in order to reach members of Gen Z who are in the housing market. When marketing to Gen Z, start by learning how to connect and build relationships through the use of social media marketing and video tours of home listings.
