Why Millennials are the perfect generation for the ‘new’ real estate
Millennials. If we’ve heard about their avocado-eating, phone-addictive, snowflake-embracing ways once, we’ve heard it a thousand times. Dig deeper and it’s immediately obvious that the myths aren’t true.
In fact, millennials are motivated, tech-savvy and more flexible than their parents ever were. In today’s new real estate world, millennials might just be the ideal agents.
Will Honey, Principal of Independent Tuggeranong, makes a point of seeking out Millennials when looking for new recruits to his team for a few reasons.
1. They know what they want
In 2020, Millennials will be aged between 24 and 40 years old. If they haven’t already bought their first home, they’re well on the way. Thanks to rising house prices, millennials have had to wait longer than their parents to buy their first home. But not by much. In the early 2000s, the average age to buy a first home was 29. Today, it’s 31: smack bang in the middle of the millennial generation.
“Our millennial agents speak the same language as their buyers,” explains Will. “They’re great at building rapport and knowing what younger buyers are looking for. And they definitely understand the pain of affording a first home!”
That understanding means millennial agents can do a great job for their sellers, too. From advising them how to style the property to creating a clever marketing campaign, their inside knowledge is a serious asset.
2. They're social media savvy
They have grown up with technology at their fingertips. They’ve had mobile phones since their teens, and they’re just as adept at online messaging as they are face to face.
That’s a real asset in the new real estate industry.
“Everyone looks online first,” says Will. “Especially younger buyers. If we’re selling a property that’s going to appeal to first home buyers, social media is crucial.”
It’s not just buyers who make their decisions online. When people are thinking about selling their home, they turn to the internet to find a good real estate agent.
“How we present ourselves online is important. It’s as much a part of our brand as our face-to-face conversations.”
To stand out, a good real estate agent needs a strong and authentic online presence. For millennials, social media has always been part of their identity, putting them streets ahead.
3. They find flexibility fun
One of the generation’s greatest traits is their adaptability. Millennials actively seek out workplace flexibility. They’re also happier to blur the lines between home and office. Mobile technology means that they can, and do, work from anywhere. And if that work carries on into the evening, it’s a deal they’re willing to make.
The good news? Real estate as a career offers more flexibility than almost any other option. In addition to the ability to work part or full time, real estate agents can manage their day to suit them, whether it be starting work early in the morning or choosing to sleep in and work late. And Will’s quick to reassure you that even working on weekends is negotiable. “Successful agents often build high performing teams, which allow all members to operate to their strengths and provide maximum lifestyle flexibility and reward.”
As a result of the recent rebound in the property market, there is an increased demand for new agents joining established real estate agencies as more homeowners look to sell their property. “It’s a great time to be in real estate,” Will says. “We’ve put together a tonne of information to help people decide if this industry is for them. I encourage anyone who is thinking about a career as a sales agent to check it out.”
Want to know more about what it's like to work in real estate?
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