Try as you might, you can’t ignore it anymore. It’s everywhere, in every news format imaginable, from print to television to social, everyone is touting the growing purchasing power of my generation; the millennials. For over two years now, I have been telling the realtors within my company — as well as any realtors I bring on – how they need to change the way they communicate if they want to have success with my generation. The generation of affluent purchasers who even national publications like “The Next Web” say will change the marketing landscape. Heck, we already have.
Are You Playing Catch Up?
Even in a sleepy, social media backwards city like San Antonio, I am seeing a paradigm shift when it comes to the people from my generation. At the same time, I am watching real estate agents and loan officers turn out their pockets in this abundant landscape, simply because they were unwilling to embrace the trends that this particular market segment has taken up with open arms. With millennials leading the charge in the home buying market, I realized how catering to agents who refuse to communicate with millenials on their level (social media) will hurt the bottom line of our brokerage. For me, playing catch up is no longer acceptable.
When I look at social media savvy agents, I see more closed transactions, higher sales volume and a clear understanding of powerful (and free) marketing: the model I have been teaching to all along.
While I am in the business of finding, attracting and retaining great agents, I am also in the business of business. And, instead of continually putting forth time and effort to an aging industry who is doomed to crash and burn the more younger buyers enter the market, I remembered something one of my mentors once shared with me: “In real estate, you can recruit yourself out of any problem.” So, I sat down, I envisioned my perfect agent, and now, I am on the hunt to attract those agents and retain them in my firm, because I do understand all of this on a very organic level, making me best suited to train on it, when compared to the ever-aging population of my competition of trainers in this city.
Old Vs. New
Real estate agents who are using social media and who are leveraging content creation are literally taking over the market. In the list of the top 50 Realtors, over the last year, I see a sea of young, millennial faces. In fact, I have an agent that I have personally trained triple his production year over year because he understood the importance – and the validity – of using the model I gave him. It works.
If You Don’t Want Your Brokerage to Go Extinct…
In order for my business to ride the wave of the impending tsunami of home purchasers my age, who think like me, talk like me and who communicate using the same venues I do, I am focusing on hiring 40 new agents with the caveat that they have to embrace the system I give them and make it organically their own. After all, if just one agent can triple his production because he understands this trending change, I can only imagine what 40 could do for our company, and I can only imagine how much worse it is going to get for those who remain stubbornly in the real estate stone ages.
More from this Contributor:
Real Estate Agents: Getting Rich in a Talent Poor Industry
A Real Estate Survival Guide to Working With Fledgling Investors
Why I Stopped Stepping Over Dollars to Pick Up Dimes