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4 Myths About Millennial Clients

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Millennials certainly have a long list of stereotypes out there, many of which don’t paint them in the best light. The best way to be prepared to work with this unique group is to know more about them. With so many false reputations floating around, it seems beneficial to clear the air on a few of the most common myths about working with millennials.

 

Millennials are impulsive

Millennials seem to get this reputation, although there’s no real basis for it. Millennials aren’t afraid to think out of the box to make things happen, but they aren’t typically impulsive. Millennials usually will do their due diligence before making a decision. Count on your millennial clients to be thorough and exacting in their decision-making, and consider how you can cater to them in this manner.

 

They are a headache to work with

Millennials are typically meticulous and careful when making decisions. They ask questions and take time to make informed decisions. They expect prompt responses to their questions, and they appreciate speedy communication. Millennials have gotten a reputation for being hard to work with, but the truth is, they just need to be understood. Work to offer your millennial clients top-notch client care backed with your professional knowledge to create a smooth experience for all parties.

 

They don’t value your expertise

Somewhere down the line, millennials got a reputation for being “know-it-alls”, but this isn’t usually the case. Millennials strive to be knowledgeable about purchases and big decisions by doing in-depth research. When it comes to financial decisions, they’re likely going to have a lot of questions. If you share your knowledge, millennials will greatly appreciate your help. They will likely still do research on their own, but seeing that you’re an available resource will help build your relationship.

 

Millennials are all alike

Perhaps one of the biggest misconceptions about millennials is that they are all alike. Millennials do share some common traits, but they aren’t all the same. If you’re able to work one-on-one with them and give them the quality care they crave, then you’ll get a chance to know your client and what they need. Just as with all clients, if you can identify their specific needs, then you can offer the best client experience possible.

 

There’s no denying that millennials have gotten a reputation that includes some less-than-desirable qualities. Don’t let that interfere with your client relationships when it comes to working with millennials. It’s true that most millennials conduct a lot of their own research before making a decision, they value prompt and tech-savvy communication, and they have high expectations for the services they utilize; but all of this can be used to your advantage. The key is to remember that just like any other client, every millennial client is different. Don’t let the negative stereotypes sabotage the experience — continue to deliver the same high quality service you would with any other client.

Disclosure.

This is not an advertisement pursuant to 12 C.F.R. 1026.2(a)(2). This is informational, recruiting material intended for mortgage professionals only and is not for distribution to consumers or prospective applicants for residential mortgage loans. Cardinal Financial Company, Limited Partnership, NMLS ID 66247, is an Equal Housing Opportunity Lender. Corporate Address: 3701 Arco Corporate Drive, Suite 200, Charlotte, North Carolina 28273. Licensing information can be found at: https://cardinalfinancial.com/nmls-licensing/.