Bringing in new, high-quality people to your brokerage or team is a key to growing your total sales and ensuring your office stays competitive, and attracting the right millennial agents can pay dividends for decades. Here’s how to recruit millennial real estate agents to join your team.
Be upfront and honest
Perhaps the biggest mistake real estate brokerages make is sugarcoating the nature of the business. Real estate sales isn’t for the faint of heart… Your pay can fluctuate, and for many new millennial agents, their pay can be zero for many months. Also, an agent has to have the right set of skills to be successful, and brokerages should be clear about what makes someone succeed in this line of work. Be sure that you’re enforcing this as you recruit millennial real estate agents.
Brokerages that attract agents without laying all the cards on the table do themselves and the potential agents a disservice. Sure, the young millennial agent may join the company, but they may not be able to succeed for many months. Worst case? They become frustrated and quit, leaving you with a high turnover rate and lots of on-boarding costs.
Offer scholarships and cover costs
Most new millennial real estate agents may be amazed at the number of little fees and overall cost associated with starting out as a real estate salesperson. Perhaps your company is in a position to give a “scholarship” for costs such as the real estate licensing exam or even their 1st couple years of continuing education. Maybe your company could even give a larger commission on the agent’s first few sales to help them accumulate a little income.
Show that you’re tech savvy
It’s nearly impossible to write anything about millennials without mentioning technology. Whether it’s attracting a millennial buyer/seller or attracting a millennial agent, your ability to show you understand and utilize technology is key. A millennial real estate agent won’t join a brokerage or team that seems stuck in the 1950s. Showcase how your brokerage uses cutting edge technology. (You know, like Casamatic. Wink. Wink.)
Plug them into a team or pair them with a mentor
The thought of going into this business – this 100% commission business – is somewhat terrifying. Make things a little easier for your new millennial recruits by keeping tabs on which teams within your office might need part-time or full-time help. The new agent gets the benefit of working with a seasoned professional, and they don’t have to stress as much about their financial security.
Can’t quite make that work? At the very least you should be pairing each younger agent with an expert salesperson to mentor them.
At the end of the day, learning how to recruit millennial real estate agents to your team will improve your office work and feel. Showing yourself as a professional, tech-savvy, and supportive office will not only grab the best talent out there, but it will push your business forward in all aspects.