At 80 million strong, millennials are poised to make a great impact on the real estate industry — not just as homebuyers but as a viable talent base. Real estate is not typically a first career, but here’s why I want millennials on my team at the start of their career.
1. They are wired.
No other generation has impacted the evolution of technology as much as millennials. And as more and more online transactions are moving to a mobile platform, we can learn a lot from this generation about how to create a real estate transaction that better aligns with how today’s consumers make purchases.
Historically owners and franchisors have taken on the role of vetting technology options, but I see an opportunity to tap the in-house experts who have high “digital fluency” to make sure we are staying relevant from a technology standpoint.
2. They want to build something.
It’s not all about the paycheck for millennials. Although many millennial characteristics are similar to those of entrepreneurs, millennials feel strongly about making a difference. They are clear in their preferences when it comes to who they do business with: They value companies who do good work. Further, finding meaning in their work is fundamental. As the trusted adviser who can help put a client on the path to economic prosperity through homeownership, millennial real estate professionals take pride in building a community.
3. Teamwork is how they roll.
Ambitious, confident and team-oriented, millennials are drawn to a tight-knit working group that values professional and social interactions. They prefer a cross-functional way of working rather than a top-down approach. Open to change and consummate multitaskers, they are able to function in a dynamic work environment.
4. They are lifelong learners.
Not only do they want to have strong coaches and mentors, millennials fully expect and intend to continue learning, from interactions with others, in classrooms and on technology-assisted platforms. I can’t think of a better way to build a dream team.
5. The numbers don’t lie.
Millennials number 80 million. By the year 2020, they will make up 50 percent of the workforce. The average age of a homebuyer is early 30s, so your millennial agents will be generationally aligned with a huge segment of clients who value peer-to-peer referrals. Oh, and they make great clients, too.
Millennials and their distinct, defining characteristics have much to offer our industry. Tapping into their unique qualities and mindset helps to inform how we evolve the business to be positioned for the next generation of homebuyers and sellers.
A true industry veteran with decades of experience, Charlie Young has had a front seat to the evolving real estate industry. When Young first embarked on his journey at ERA Real Estate six years ago, he immediately recognized the need for a transformation and expansion. Since then, his focus has been on renovating the brand from the inside out. Young’s motto is “Don’t bring problems, bring solutions,” and that is exactly what he does.