Millennials are changing the status quo from inside and outside the real estate industry. As consumers, they have the most spending power of any generation. As real estate professionals, millennials are using technology and social media to change the way brokerages operate.
- Millennials are eager to learn and extremely tech-confident
- Brokerages are changing some office dynamics and culture to attract more millennials
- Millennial professionals and veteran agents can form mutually beneficial teaching relationships
Millennials are the most powerful generation to ever hit the real estate industry or any profession, asserted Lennox Scott, president of John L. Scott Real Estate in Seattle, during a recent National Association of REALTORS® Power Broker Roundtable on millennials in real estate.
“They are technology-infused and connected with community—they’re a reflection of the world we’re in, and I, for one, am happy to tap into the energy and excitement they bring,” Scott said.
Scott says they’ve discontinued the title of “managers” in their office, and instead have “office leaders” and now offer quick-start training. They offer specialized roles to foster greater production and mentoring, like a VP of Residential Success, who oversees coaching; a VP of Agent Excellence in charge of marketing; and a VP of Professional Achievement, who focuses on agent support.
“We have a whole new vibe in our offices—we’re upgrading the conversation, and we’re sharing new core values,” Scott says. “Our motto is ‘Everybody is productive quicker.’… This new energy is inspiring us to do more than sell a lot of real estate.” They’re also having more charitable events with fundraisers for children’s hospitals.
View the original article at Realtor Magazine