Recruiting Millennials in Real Estate

Recruiting Millennials in Real Estate

In 2015, Generation Y, or “millennials” represented 32% of the home buyers in 2015, the largest generational market, as they accounted for 68% of the first time home buyers’ market. Meanwhile, according to realtor.org, the “typical REALTOR® is a 57 year old white female homeowner with some college education” (USA statistics). It’s time to focus on recruiting millennials and here are some tips to help you achieve that.

What Keeps Them Disengaged

A recent survey by inc.com showed that only 28.9% of millennials are engaged at their jobs. One of the biggest factors in this is social media, where their peers are extolling the wonderful lives they are living and somehow their’s by comparison just doesn’t measure up.

You can combat this by helping them to excel. Unlike 9 to 5 fields, real estate offers the promise of achieving based on what you put into it. Focus on the training that you will offer them, the tools that will help them to get to the next level, and the mentorship you can offer.

What They Are Looking For

Millennials are looking for a sense of purpose. In a 2015 Deloitte survey, 6 in 10 millennials admittted that a deciding factor their current work place due to a sense of purpose. They believe that business is focused on its own agenda rather than serving the common good.

The way to connect them to the good you are doing is video testimonials from clients. Show your prospective recruits how you are helping people buy the best home for them or sell their home so they can move on to the next phase of their goals. But don’t be afraid to highlight that it will also help them to make money – because 67% of them want to start a business.

The Importance of Culture

If 20% of millennials had their choice, they would work for Google. Google and other modern companies like Apple and Facebook offer collaborative workspace and a sense of community. Millennials crave culture.

You hear about work-life balance – many millennials want work-life integration. They’ve left a family and maybe a college group behind and are looking for another community to embrace. Develop opportunities outside of the standard business settings: hold events, potlucks, and dinners. Help them feel like they are in a group that cares about them and their success.

Always Be Recruiting

Hiring the Best Real Estate AgentsWhile millennials bring energy and passion to a workplace, if you haven’t built a culture to keep them there, you need to be ready for their departure. According to Forbes.com, “Ninety-one percent of Millennials (born between 1977-1997) expect to stay in a job for less than three years.”

At Inman Connect New York, one of their panels looked specifically at the tech tools that can help make your job as a recruiter easier. First up – slybroadcast which allows you to deliver voice messages directly into your recipient’s voicemail box, en masse. Secondly – Crystal searches the Internet for all references to a specific email address and returns the results to you in an informative report. The last is ZipRecruiter which helps you vet potential hires through its trove of resumes.

You may also want to read our previous articles on Hiring the Best Real Estate Agents and Building Your Team Effectively.

2016-02-10T08:41:12+00:00February 10th, 2016|PRODUCTIVITY|