The industry continues to turn over agents at a high rate, and as a result it may be wise for brokers to make sure they know how to connect with the new young real estate professionals coming into the sector en masse. That ability to better deal with millennials may be key to not only keeping agents around for longer, but also potentially unlock new connections with the massive group of young shoppers now coming into the market.
As with many other people who are moving into a new industry for the first time, the most important thing long-time real estate pros can impart to millennial agents is their wisdom and patience, according to Spinify. Not everyone is a perfect agent right out of the box, and few are near the top of their field - locally let alone regionally or nationally - even after a few years. As such, when brokers set aside the time and effort to walk young agents through issues that might have arisen and lend a sympathetic ear, that's likely to be taken with great appreciation from their inexperienced charges.
What else is important?
That doesn't mean millennial agents shouldn't be continually pushed to improve their efforts in the industry of their own accord - far from it. Instead, though, it might be wise for brokers to offer options of how millennials can build their skill sets and client bases, especially when they're just starting out, so that they have a little more confidence in their ability to be self-starters, that can go a long way. And when those workers meet some of the goals brokers set out for them, taking the time to make sure that effort was appreciated can also help foster a stronger bond and commitment to the company.
Clear paths forward
Millennials often have a bad reputation in the media, but this often isn't the case, especially in fields where their effort directly correlates to how much they get out of their careers, according to Inman. For the most part, people in this age group are hardly allergic to putting in a serious effort to succeed, but they might not understand just how much effort is required right out of the gate. As such, greater training effort on the part of brokers to underscore what's required and expected of them could help those who are new to the business get a feel for how best to succeed.
A helping hand can really be vital in terms of helping millennials gain the self-assured nature they need to approach every client - on the buying or selling side - with confidence that they can help throughout the real estate sales process. That, in turn, will likely help to engender positive interactions that lead to long-lasting client relationships.
When brokers position themselves as leaders as much as they do bosses, millennials are far more likely to respond well to any guidance or help they try to provide. That extra effort can really translate into more sales, which may be important as young adults continue to boost their buying power in the market today.
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