Millennials have a great deal to offer the real estate profession. They grew up in a digital age, and most are very familiar with technological resources. They may even be able to teach the most seasoned agents a thing or two. Millennials are changing how the real estate profession lives and breathes. Are you prepared? Below we have some suggestions on how to recruit millennial real estate agents, assistants and consultants, as well as tips on how to retain young talent.
Why Hire Young Real Estate Agents?
Not only are millennials the largest pool of buyers currently in the real estate market, they are also the largest pool of skilled workers looking for jobs. In fact, the millennial generation will make up half of the workforce by the year 2020. These young professionals have a lot to add to real estate brokerages and sales teams. They’re creative and full of energy, they like to work cooperatively, and they are on the leading edge of technological know-how. They love their mobile devices and are super savvy when it comes to social media. Plus, characteristics common in millennials go exceptionally well with a real estate career.
Studies show that millennials:
- Prefer occupations where they can be entrepreneurial
- Will likely check social media and blog while at work
- Do not like to be micromanaged, but will take general guidance from managers well
- Prefer jobs that don’t require being present in an office during regular business hours
It’s clear that a career in real estate may be a great fit for this savvy, creative, social and highly motivated generation.
Tips for Recruiting Millennials
Now that you have a better understanding of the unique skill sets that millennials bring to the table, are you ready to start recruiting? Here are a few of our top tips for attracting millennial real estate agents to your brokerage or real estate team:
- Harness the power of social media. Not only do two-thirds of first-time job seekers use social media to search for jobs, but 94 percent of recruiters are using social media in general. Ignoring it could result in a significant loss in the competition for this energetic group of potential colleagues.
- Create mobile-friendly sites. According to Nielsen, more than 85 percent of millennials have a smartphone. Anyone observing members of this generation out and about will likely see them surfing the web on their device. It’s also useful to notice how keen the concentration is for these individuals who scan the internet while waiting or dining.
- Emphasize company culture. Millennials are a particularly social generation; they want to enjoy their workplace. Focus on providing benefits that build community and make millennials feel their true needs—health wellness and finances—are taken care of.
- Use video. Using Skype, Google Hangouts or FaceTime for interviewing or creating recruiting videos for distribution on social networks is a great way to appeal to millennials.
If you want to attract young real estate agents to your brokerage, remember to consider their unique attributes, skills and preferences. You may need to make a few changes to accommodate the needs and desires of the millennial workforce, but it will be worth it if you are able to harness the power of their unique and valuable skill sets.
Keep in mind, recruiting millennials is only the first step. Get additional recruiting advice, plus tips on how to retain these savvy, creative young real estate agents in McKissock Learning’s course, “Millennials are Changing Real Estate: Are You Ready?”.
Tom Davidson is the general manager of Colibri Real Estate and McKissock Learning, the national leader in online learning for pre-licensing, continuing education and professional development. Tom has nearly 15 years in the real estate industry. From sales training and product development to growing the business, his multi-faceted background encompasses crucial functions to a successful career in the field.
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