Get in on the Ground Floor with First Time Home Buyers, Here's How
A conversation about the importance of home ownership with Steve Harney on this week’s #TomFerryShow seemed like the ideal opportunity to introduce some ideas I’ve had recently.
The objective is to attract more millennials and/or first-time buyer real estate clients in order to “get in on the ground floor” and be able to serve their real estate needs throughout their lifetimes.
Sound good? But there’s more…
These ideas will also allow you to leverage your buyer clients into more business, essentially getting “first dibs” on additional young people who are new to home ownership.
Ready to learn ‘em? Let’s go!
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Idea No. 1: “My First Home” Video Series
Imagine this the next time you work with first time home buyers…
With their permission, you document on video every step of their journey – from their initial online search to getting their loan approved, how they found you, the process of shopping for a home, selecting the right property, making offers, and closing.
You can call it “My First Home” or come up with a name of your own.
Along the way, interview them to ask all the pertinent questions:
- What was the trigger for you wanting to buy?
- What sites did you use to start looking?
- At what point did you realize you could do it?
- When did you start saving for your down payment?
- What initiated the process of saving?
- How did you find me and why did you choose me?
- What’s your family history with home ownership?
Not only will this create a powerful narrative that needs to be more out in the open, but this type of video will be extremely beneficial for others who are considering buying their first home.
Better yet, this video will position you as someone who knows how to hold the hands of first-time buyers and ease them through the entire process. You can demonstrate that this daunting objective doesn’t have to be so scary!
Idea No. 2: Use Google Ads to Inform Additional Video Content
When millennials and first-time buyers hit the Internet to begin the home search process, I’m willing to bet they’re not opening YouTube and typing in “How do I find a real estate agent to help me buy my first home?”
No, they’re not.
They’re asking questions like “How do I buy my first house?” or “How can I fix my credit to buy a home?”
But don’t just guess.
Google Ads can shed light on those search results. Use it to find out commonly searched phrases and then use that information to dictate your future video content.
By creating videos that speak directly to those common searches, you’re bound to increase your exposure and position yourself favorably in your market.
If you’re not adept with Google Ads, you can basically do the same thing by typing various keywords into YouTube’s search bar and seeing what topics auto-fill. A site called Keyword Tool can also be a valuable resource.
Idea No. 3: Throw a Party!
Just like closing gift ideas, this one requires the right buyer but can be extremely powerful for just a small investment. You’ll need to get to know them well and ask strategic questions to identify if they’re the right candidate, but that shouldn’t be too difficult.
If you help a young/first-time buyer get into a house who has:
- A large social circle of friends
- And better yet, is among the first of his/her/their friend group to purchase a home…
…You have the ideal candidate!
When their home closes, tell them you’d like to throw them a housewarming party at their house and at your expense.
Tell them to invite all their friends and make it a great party!
By doing so, you’ll achieve two objectives:
- You’ll get their friends to take notice and say, “If they can buy a house, I’m sure I can too.”
- You’ll be positioning yourself as the “go-to” resource to help all these friends replicate your client’s success when they are ready to buy. During the party, make sure to meet everyone and take a moment to congratulate the new homeowner in front of everyone. Ask him/her/them to say a few words as well, and they’ll likely tell everyone at the party how awesome you are!
Idea No. 4: Boost Client Testimonial Videos
If you’ve ever handed the keys to a home to a first-time buyer, you know the expression on their faces. It’s a mix of bewilderment, amazement, accomplishment, and incredulity – and it’s super powerful. Here’s what I want to challenge you to do…
Capture and convey the essence of that expression in video testimonials with your clients…
…And then boost those videos to your target market!
My buddy Ken Kerry is basically the King of Infomercials, and he’d tell you to ask these first-time buyers these five questions:
- What fears did you have about buying your home today?
- What process did you use to select me to represent you?
- What did I do differently from what you expected?
- How did I handle the process for you?
- What would you say in recommending me to a friend?
A series of emotionally-charged videos with people answering these questions and gushing about how you got them into their first home will have a huge impact in your market.
In closing, look… I know first-time buyers aren’t everyone’s ideal client…
But when you look at them from a long-term perspective and use these four strategies to leverage them, they can definitely be worth the effort.
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