Millennials have now taken over as the largest subsection of the workforce. It’s estimated that this year, over 50 percent of working-age individuals around the world were born between 1980 and 2000. Despite this number, companies in many locations still have a hard time filling their ranks with millennial employees, and this can be a drawback. Millennial employees bring a lot to the table, such as a flexible approach to work, openness to feedback, and a desire to keep on learning. These qualities are especially desirable to companies that are keen on adopting the latest technologies relevant to their industry.
At the same time, millennials often have an easier time relating to the needs and concerns of customers who were born in the same generation as them. This is particularly important in real estate, an industry where building trust and making connections are top priorities. According to a 2020 research conducted by the National Association of Realtors, millennials also make up the largest share of homebuyers in the US at 38 percent. Working with real estate agents who understand the lifestyle and priorities of millennial buyers can help your brokerage widen its market.
So how do you attract millennials to work as real estate agents for your brokerage? Here are 5 practical strategies that you can incorporate into your recruitment program:
Spread the Word Through Social Media
The easiest and most convenient way of getting the word out and finding real estate agents is by utilizing social media. Social media platform users span generations, and your company can be easily seen by prospective applicants or the people around them. Create posts and digital images with clear instructions, perks, and details, and use your agency’s official social media account to spread your message. You reach a wider audience by sponsoring targeted ads as well. Check out Brokerkit for practical advice on how you can catch the eye of up-and-coming real estate agents by running recruitment ads online.
Host Social and Professional Events
Hosting off-site activities is an effective way of widening your circle and that of your agents. It’s also a great way of meeting new real estate agents who are looking to join a new brokerage. Organizing an event that teaches new skills and advances the real estate industry sends a statement that your company supports the continued growth of your agents. At the same time, it tells prospective agents that the management has a healthy attitude towards innovation and holistic development.
Embrace Technology in Your Company.
Most millennial professionals are digital natives, meaning they’re quite used to the stimuli provided by constant exposure to digital interfaces. They’re not afraid to use new technology to make their work easier, faster, and more efficient, and they’re expecting their new company to feel the same way. In addition to using social media and hosting forward-looking events, your brokerage can display a welcoming attitude towards technology by embracing solutions that allow agents to communicate and simplify their transactions and processes.
Highlight the Benefits of the Lifestyle
There are specific lifestyle demands that come with being a real estate agent. A successful agent is able to work with minimal supervision, is able to accommodate late-night and early morning tasks, and must have an entrepreneurial spirit. The good news is that millennials often have these qualities, and they’re looking for companies that can offer them guidance as well as the freedom to handle challenging tasks on their own. When advertising openings in your brokerage, be sure to mention that you’re looking for creative and highly motivated individuals who can thrive in the environment that you are offering. This way, you’ll be able to attract top-quality young professionals that fit the bill and have the potential to grow their career with your company.
Build Trust with Transparency
Millennials actively seek feedback, and they’ll appreciate a brokerage that offers them the information and guidance they need to succeed in their tasks. Right from the start, establish that your real estate company values trust and transparency. You can do this by presenting the numbers, both good and bad, to your agents. This gives them an idea of what the bigger picture looks like as well as a chance to offer improvements to the issues in front of them.
Understand What Young Real Estate Agents are Looking for in a Brokerage
The bottom line is that your brokerage needs to offer something of value so it can attract millennial real estate agents who can grow and develop alongside your company. Consider the wants, needs, and priorities of your ideal real estate agent when formulating job postings and marketing materials for the said opening. At the same time, be truthful and make sure that your brokerage lives up to your prospective agents’ expectations. By establishing a common ground from the get-go, you’re paving the way for a long and fruitful professional relationship between your real estate company and the young agents you will be working with.