Recruiting Millennial Agents to Your Brokerage
January 9, 2019
January 9, 2019
Real estate agents are the lifeblood of every brokerage. The success of each brokerage largely depends on how these agents perform. Brokers should strive to offer creative offerings in order to not only build up their agent force but also to retain them.
New vs. Tenured
Recruiting real estate agents is challenging especially with the rising competition. Tenured Agents and Brokers have been adapting to the changing technology landscape. Adapting and excelling in the tech realm is essential when it comes to adding a younger generation to your team.
Why Hire Millennials
Adapting to the current trends is essential to the success of every brokerage, and that also means that you should embrace change and technology. Recruiting Millennials should be an essential element of any Broker’s growth strategy, including the need to understand their work philosophy and having the tools and technology to meet their needs.
This cohort comprises 35% of the home buyer percentage which has consistently been growing over the past four years. As such, the Agents you hire regardless of age group should have a clear understanding of this generation including how to work with them, communicate and market to them.
What They Can Offer
Millennials are unique and straightforward; they want to know whether or not they can trust you and whether you can give them the results they want and expect. Their aggressiveness is an excellent quality in the real estate industry if harnessed well.
By the year 2025, this generation will comprise 75% of the global workforce and so hiring them as early as now is an advantage.
To attract this growing demographic to your brokerage, consider their unique qualities, abilities, and preferences. Nevertheless, hiring them will give you a leap forward because they are highly motivated, and a well-educated cohort that’s ready to work closely with associates and go the extra mile for clients. This group is also known for being tech-savvy and connected with the community.
Three Recruitment Tips
Creating a value proposition in hiring recruits does not just mean you have systems and processes, you have to be clear on what makes your firm stand out. You don’t just place an ad that you are hiring young agents; you need to possess a clear value proposition that differentiates you from the crowd. Being visible means, you have to be where these groups of people are.
- Invest in Software– Technology has changed the buying and selling preferences over time as well as the way people do business. The younger generation tends to be more dependent on the internet for almost all of their transactions. If you don’t have an online presence, these Agents might be doubtful to work with your company since they don’t have information readily available. Update your website, mobile apps, and CRM, these tools would allow you to not only stand out but also keep track of their performance, reports, and other relevant data.
- Empower Social Media – Millennials usually spend more than five hours on their smartphones. Harnessing your reach via social media by creating a robust brand identity and focusing on at least two platforms can significantly enhance your online presence and customer engagement. You can make use of Facebook Ad tools to track customer engagement and other performance measures. Videos are another powerful tool that sparks the interests of young people.
- Create Culture – Recruiting Millennials is easier compared to retaining them. Millennials have a grand desire to be a part of something bigger, and they embrace diversity. They want to impact the world through their work and actions. If you get them to see your vision, the culture you want to impart, and if they share the same insights, this can lead to a long and stable working relationship. It all starts with asking the right questions.
Strong leadership skills are also an important factor in retaining employees regardless of age group. Millennials sincerely appreciate the qualities of a good leader who empowers and unlocks the potential of each team member.