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Tuesday, October 30, 2018

Study says: Be an Influencer AND a Real Estate Agent and 80% of Millennials will want you!

A majority of millennials said they would consider hiring an "influencer" as a real estate agent, according to a new study.

A survey of 1000 millennials born between 1982-1999, with income greater than $100,000 per year, found that 84% of these "High Earners, Not Rich Yet" or "HENRY's" confirmed that, "Influencers impacted their decision to make purchases and 80% would consider hiring one as a Real Estate Agent".

To be an influencer, we hear the phrase ‘be a digital mayor’ often in the real estate industry, but that’s not enough anymore,” said Engel & Völkers Americas President and CEO Anthony Hitt. 

While you have to have the neighborhood knowledge, social presence, work for the right company, have the reputation that precedes your interaction with buyer's and seller's, you also have to have a niche or distinguishing factor that blends this knowledge with entertainment or aspirational value that will make you a center of influence — building your following and referral base as a result.

The survey also found that 98% of HENRY's rely on social media or reviews based on websites like Yelp.  With HENRY's poised to become the next generation of wealth, Realtor branding must set out specifics on how they plan to serve this distinctive generation. 

Here are the top three factors for HENRY's choosing a Real Estate Agent:
1)  Referral from Friends and family 59%
2)  Reputation in the local neighborhood 53%
3)  Local neighborhood expertise 50%

Authenticity has never been more important, and real estate agents should position themselves as trusted advisors and sources of insider information before, during and after the transaction.

These consumers are going to seek out agents they feel are knowledgeable and trustworthy — and ones that they can relate to or even aspire to on certain levels.

Source of information from Gabriela Barkho, Inman News

Marty Qualls
PRMI Mortgage-Ogden Office

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