Generation Z members of society (the generation following Millennials) represent the largest future group of real estate agents. As a broker, actively recruiting Generation Z agents can help expand the firm’s target audience while also replacing some of the older agents after they retire many years later.
Why Hire Gen Z Agents?
Whether or not you are looking for new agents to add to your team, it is important to know what Gen Z agents can bring to the table as positions open up in the future.
Gen Z Agents Are Enthusiastic
One of the most important reasons for hiring Gen Z agents is that they are typically energetic and enthusiastic workers who are more willing to listen and learn from their employing broker. This energy and enthusiasm can make up for any lack of experience that a Gen Z agent may have. While it’s true that these newer agents may need more guidance and attention than older, more experienced agents, Gen Z agents are more malleable, enabling them to be molded into the “ideal agent” however you define it.
Gen Z Agents Are Tech-Savvy
This may go without saying, but another benefit of adding Gen Z agents to your brokerage is that they are incredibly tech-savvy. Although real estate requires more person-to-person relationship building than many other careers, Gen Z agents will likely know the best ways to reach out to client prospects online as well as how to stay in contact with them on a consistent basis, potentially saving time and money. In fact, the new Gen Z agents may later teach older agents and brokers how to effectively use the latest social media and online communication devices so that they can better reach out to their own clients or prospects.
Gen Z Agents Understand Millennials
Millennials now constitute the largest group of homebuyers, tenants, and workforce participants, making them an essential market segment for real estate professionals. Because Generation Z and Millennial members are closer in age and have similar communication styles, it can be easier for Generation Z agents to reach out and connect with Millennial prospects for sales and leasing deals.
Tips for Hiring Gen Z Agents
For most people, a well-paying job is at the top of what they want in a career. While compensation is still important to Gen Zers, there are other factors that you as a broker can leverage if you don’t have the funds to provide a high salary and benefits at the start.
Gen Z Agents Value Continuing Education
Although they may not be as entrepreneurial compared to Millennials, Gen Zers still value the ability to move up in the world and follow their own career path. As such, Gen Zers understand the importance of continuing education to help them achieve their career goals and improve their work performance in general. As a broker, you can sponsor their continuing education as a perk for joining the brokerage. Enroll them in an online class, host a “lunch and learn” by showing a webinar while providing food from your favorite local establishment, have the team go to a networking event or conference together, or simply provide one-on-one mentorship. Demonstrating that you value their professional development whether they stay with you for a year or twenty years will go a long way with this young yet motivated group of people.
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Gen Z Agents Want Freedom and Flexibility
While Millennials tend to value fun office environments and people-centric company cultures, Gen Zers value having the freedom and flexibility to decide where and when they work. Providing them this freedom can be a huge plus when they are deciding which brokerage to work for.
Gen Z Agents Value Stability
With student debt being at an all-time high, it’s no wonder that many Gen Zers want a steady income in order to pay off any debts and cover living expenses. While this may not be attractive to more experienced employees, consider providing Gen Zers the option to earn a set salary and benefits packages instead of working solely on commissions. Some brokerages have had success with this business model, claiming that it benefits their clientele as well. In fact, some clients might be more willing to hire your firm if they know that the agents don’t work on commission.