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Recruiting and retaing the Gen Y's

Posted in Recruiting & Retention  By , Tuesday, May 20, 2008.

By population, they are the largest gruop of potential new home buyers. Looking towards beter communication and success with the new homebuyer requires new skills...our industry average age is over 50. We need to think young and get better equipped to successfully manage relationships with the Gen Y home buyers & home sellers. What recruiting thoughts do you have regarding recruiting and retaining the Gen Y agent?

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Submitted by on May 20, 2008 - 1:59pm.

Recruiting Gen X and Y agents will require a lead generation system that provides them with a constant flow of "business opportunities" which if followed up properly can become prospects, clients and transactions. The traditional buyer side flow (walk-ins, ad calls, etc.) has been replaced by online services that generate registrations by the consumer. Newer agents can't effictively compete on the listing side so their "survival" will come from the buyer side.

 
Submitted by on May 20, 2008 - 6:34pm.

As the former recruiter for the Prudential franchise (as well as a Gen-Xer), and now as a Performance Coach for the #2 company in Chicago, I think that there are a number of misconceptions with this topic. I remember when I first got into the field listening to a Judy LaDeur presentation that talked about breaking agents into the 4 personality profiles... and finding out what is important to them. I believe that what brokers in the industry have to understand now... is that the X and Y agents want it all... but they want it to be authentic.

What they want:

Technology - the best tools, brokers that use it, IT that understands it (MAC and PC), trainers that can show them how to use it, and someone in the company that is looking out for the best new thing on the market.

Competitive Advantages - I don't agree with Fred's post about that new agents not being able to effectively compete on listings... These agents will use every tool, aren't set in their ways, are ready to research to the nth degree, are good with numbers, and are uncanny at blending the rational and emotional sides of the equation. Best of all, we all have Blackberrys or some smart phones, and aren't afraid to use them (or send emails) at 9,10,11, or 2 o'clock to our clients.

Kick @ss Marketing - It has to be a step above. Color is a must. High Res photos and or video. Placement on Realtor.com, Trulia, Zillow, Craigslist, etc. Listing presentations that wow and inform. More is better... Effective and proven is best.

Lastly... and Most Important... Company Culture
This is where is starts and ends with regards to retention and recruiting. We want to work where we're wanted, not where the "Old Guard" thinks that we're "newbies". We're bringing in outside-the-box college degrees in marketing, business, tech and real world experience to match. We want to have fun. Softball games, lunches, bowling, awards dinners, holiday parties, etc. We work 7 days a week and want to have fun while we're doing it. We want to feel that our hard work and efforts are appreciated by the management or owners of the company. Simple notes, lunches, whatever... just make them feel appreciated. And lastly... put some money back into us and the company. Spend it to make us better. Bring a motivational speaker in every once in a while, or better yet, hire a coach like myself to work with them on marketing, branding, and technology (AND TAKE A LOOK OUTSIDE THE INDUSTRY FOR THIS PERSON!) And lastly, involve them in the company decisions. If you're making a new CMA presentation; ask them what THEY think. If you're launching a new website; get their input on it.

That's about it...

Matt Dollinger

Matthew Dollinger
Performance Coach
@properties, Chicago IL

 
Submitted by Bryan Castillo on May 21, 2008 - 7:44am.

Absolutely! I agree completely with Matthew. I'm glad someone got it right.

As a Gen Y'er (22 years old), working in the Title Industy, I see the dinosaurs and I see the Progressives. I'm lucky to work with a company that's on the edge and always looking for the next big jump in technology.

I work in a completely paperless office, with everyone connected with instant messenger, email, and smart phones. Our offices phones are VOIP so we can take them with us anywhere we go or access them from home.

We have monthy marketing meetings online so that 7 different offices don't all have to take the entire day to drive to meet.

Way to be one of the progressives Matthew! If I was in Chicago, I think I'd like to be on your team.

Bryan Castillo
Choice Title

 
Submitted by on May 30, 2008 - 4:23am.

As with many companies we have a wide variety of ages of our agents. Each group having a different set of needs and wants from our company. As the COO, I try to accomadate as many needs as possible. Our company is looking at moving forward with several technology iniatives that GEN X, Y and next GEN's all need. Enhanced Agent websites with blogging capabilities, video streaming, etc. Providing these tools has created a gap between older and less tech savvy agents. They feel that they are being left out or left behind. Which they are! I have convinced my sales managers that with this market down turn that our industry will not be the same as it was in 2006. Agents who do not want to transition into the future still can do business as usual if the sphere works that way. Capturing new business will become more and more difficult for all of us and having the tools your agents need will be a must. NC is a broker only state and eventually if you do not have the tools the agents will not need the brokerage.

 
Submitted by Glen Jaffee on May 11, 2009 - 7:47am.

The Gen X, Y group has no recollection of the BC (before computers) era. They grew up with video games, the Web and enjoyed access to information on a scale which was unimaginable to prior generations. Texting and emails are second nature to them. They thrive on social networking, online classifieds, blogs, etc. So, when recruiting consider all of this and use a recruiting tool which will attract them. Check out AccuRecruiter and contact me to learn more on our web site. http://www.alignmark.com/solutions/realestate.asp. We've got a really great tool to attract the Gen X/Y generation on their own turf. It's using online recruiting / advertising the way it should be. Glen Jaffee, gsjaffee@alignmark.com