Engaging Millennial Homebuyers

It's a sad but true fact that there's a generational wealth gap in this country. Because of this, we see fewer millennials in the home buying market than we'd hoped for. "The absence of millennial homebuyers is a big story for the economy, because housing sales and construction are big drivers of jobs," claims Jeff Reeves in USA TODAY.

"But it's also an equally big story for the personal finances of millennials, who are missing out on the real estate wealth that bolstered the balance sheets of previous generations," he concludes. Homebuying statistics bear this out, finding that millennials make up only 35 percent of buyers, which is down from 40 percent in the mid-2000s.

So, how do you reach this reluctant and somewhat broke generation? And why should you want to?

It's about the funnel

Connecting with someone who represents future business is something many real estate professioanals feel is a waste of time. It's critical, however, if you hope to remain in business. The sales funnel even includes a spot just for these prospects – right there at the top.

And, with millennials, who are merely deferring and not postponing homeownership indefinitely, there's a huge pool of potential first-time buyers with which to stuff the funnel.