WASHINGTON – Jan. 14, 2014 – According to the National Association of Realtors®, the median age of its members has climbed to 57 – the highest level in 15 years. Agents 40 and younger comprised only 11 percent of the group’s membership last year, down from 20 percent a decade earlier.
Berkshire Hathaway HomeServices recently created a task force, the REthink Council, to tackle this issue. Ten agents aged 35 and younger from its offices nationwide will meet later this month to discuss ways to make the profession more appealing to younger people.
Among them is Player Murray, a 35-year-old managing broker with Berkshire Hathaway HomeServices Carolinas Realty in Cary, N.C. He notes that one of the problems is that it takes a lot to get started in real estate before income starts to flow. Another issue is that many Realtors come to the industry as a second or third career; meanwhile, the flow of recent college graduates is lacking.
“No one talks about a career in real estate in college,” says Murray. “The traditional avenues teach you that you graduate and get a job that pays you on a weekly basis. They don’t know real estate is an option.”
In terms of the REthink Council, Murray is looking forward to exploring new ways to connect agents with a younger generation of buyers.
“Our major focus is to figure out how to fill the gap that’s going to grow as the older generation gets out of this business,” he says. “We have to figure out how to attract younger people into this business as well as making younger agents be more successful.”
© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688