This month’s National Association of REALTORS® (NAR) Power Broker Roundtable discusses millennials in real estate.
Moderator
Christina Pappas, District Sales Manager, The Keyes Company, Miami, Fla.; Liaison for Large Firms & Industry Relations, NAR
Participants
Lennox Scott, President, John L. Scott Real Estate, Seattle, Wash.
Joe Clement, CEO, RE/MAX Properties, Colorado Springs, Colo.
Jason Waugh, President & CEO, Berkshire Hathaway HomeServices Northwest Real Estate, Portland, Ore.
Christina Pappas: Some millennials are taking a bad rap as being lazy, self-absorbed or entitled. But as the Pew Research Center and other respected pollsters are reporting, the nation’s 75.4 million millennials—larger in numbers now than either Gen X or the baby boomers—aren’t lazy or entitled at all. They very much want, in fact, to be achievers. But they are eager to create their own pathways, largely because they see that some of the old, traditional pathways aren’t working very well. They’ve seen their parents burn out and their peers stuck in confining cubicles, and they think, “There has to be a better way.” And lucky for us, many of these budding entrepreneurs see real estate as a career opportunity—one in which they can build a successful business starting with little more than smarts and determination. So how does the industry see this new generation of agents?
Lennox Scott: I see them as the most powerful generation ever to hit this or any profession. They are technology-infused and connected with community—they’re a reflection of the world we’re in, and I, for one, am happy to tap into the energy and excitement they bring.
Joe Clement: You’re right about the energy. I love their desire and their spirit. We have a few self-starters who are absolutely killing it. One of our younger agents who is in her fourth year in the business did 70 transactions last year. In the month of December, while most people were focused on the holidays, she brought in 14 new listings.
Jason Waugh: Millennials have a unique kind of energy and perspective. They were born into social media, which makes them incredibly well-connected—and yet while technology has afforded a more mobile business environment, our millennials want to be in the office. They want the coaching, they want to collaborate, idea share, soak up information, and they’re happy to share their approach.
CP: Is this changing your office dynamic?
JW: You bet! We’re building out offices with less square footage and more open space, where mentors, coaches and agents can openly communicate—which is way different, and so much better than putting everyone in isolated cubicles or behind closed doors. Millennials seem to thrive on collaboration, and that’s the atmosphere we’re providing.
LS: We don’t even have “managers” anymore. We have “office leaders” and quick-start training. We have a VP of Residential Success, who oversees coaching, a VP of Agent Excellence in charge of marketing, and a VP of Professional Achievement who focuses on agent support. We have a whole new …read more
From:: Real Estate News