Millennials are now the largest portion of our population which means more and more of them are becoming agents, as well as buying or selling real estate. This generation is also now recognized as the most profitable in history. What are Millennial agents looking for? It’s the three T’s: transparency, team, and technology. Read on to learn what it takes to become the go-to real estate brokerage for every aspiring millennial agent in your market.
One thing that Millennials are experts at is identifying a company or business with a negative culture or questionable company values. In general, the vast majority of Gen Y wants to associate with companies that are completely open, honest, and transparent. The more you can demonstrate that you and your brokerage operate with transparency, the more appealing it will be to Gen Y. Start by clearly highlighting and visiting your mission statement, slogan, and company values on your website, inside your offices, and through your social media. It is also very important that you are open and honest about the state of your brokerage. Sharing the good, bad, and ugly, along with your plans for the future is a powerful way of instilling trust and attracting motivated Millennials that hope to both make a living and make a difference.
Another very important priority for Millennials is the culture of your brokerage’s team. Unlike the Boomer generation, Millennials are far more likely to seek greener pastures quickly if the culture support model and management style of your brokerage is not to their liking. They seek to align themselves with people that have high integrity and a moral approach to business, who balance their strengths and weaknesses, and who support their individual goals. They also place a great deal of value in professional development. If you currently hold team meetings, consider inviting prospective agents to attend a few to see first-hand how you interact with your team, educate them, and support them. Show them how you foster collaboration, motivate through leadership and encourage an environment of teamwork.
Finally, it is important to remember that Generation Y grew up surrounded by technology. More than any other generation, they have a steep expectation for tech-savvy tools and resources from their brokerage. Be upfront and forward about sharing all of your high-tech tools available to agents including websites, CRMs, content management systems, social media marketing, lead generation software, etc. The more that you can prove your brokerage will streamline their business, set them apart from the competition, and allow them to work on-the-go, the more Millennial agents you will attract to your team.
Remember the Three T’s
While the three T’s are vital to Millennial agents, they are also important elements for your other agents as well. Weichert embodied the three T’s long before there was a Gen Y. It is part of the core value system that Jim Weichert embraced to build a successful national real estate brand and continues today through the Weichert Family of Companies. We equally coach our affiliate offices to adopt and value the same philosophy. From an unwavering set of core values, people-first philosophy and dedication to providing the best technology and tools available to agents, it’s a winning formula all around.
For more information about how Weichert can bring the three T’s to your real estate brokerage, visit www.weichertfranchise.com.