– Brokerage leaders are losing sleep over “recruiting and retaining talent,” with 28% believing it will be their biggest challenge a year from now, according to the Inman Intel Index survey.
– Yep, this prominent fear superseded concerns over emerging technologies (22%), marketing initiatives (18%), and industry regulations (16%). Talk about #BrokerageProblems!
– Reports suggest that the real estate market needs to up its game to attract fresh blood. No more dry networking events or stale Instagram accounts – the kids are looking for innovation and sustainability.
– Speaking of sustainability, 25% of respondents argued a “green” approach to business is the way to go. Vegetables on the office pizza, anyone?
– However, some are sounding the alarm bells regarding the current ‘recruiting frenzy’. Citing concerns about balance of transactional experience and what’s really being taught to newbies. As we know, no one wants a rookie striker when you’re one goal down in the finals.
– Lastly, let’s not forget the whopping proportion of brokerage leaders (78%) thinking that investing in technology is the life preserver they need.
A Talent Tsunami is coming for Brokerage Leaders? You Betcha!
Panic at the Disco: Brokerage Fears Revealed
In the latest twist of the real estate soap opera, leaders at the helm of brokerages are seen clutching their pearls over ‘recruiting and retaining talents’. Forget fretting over disruptive technologies or puzzling over industry regulations – the future of real estate might be dictated by millennials and their avocado toast preferences.
Work-life Balance or Ball of Stress – The Talent Attraction Dilemma
Remember when attending a property open-house was considered an incisive market analysis stint? That’s so 10 years ago! As the industry grapples to keep pace with an ever-evolving demographic of consumers, the need to attract young, vibrant and savvy individuals is the name of the game. During the traditional real estate ‘match-day,’ the crafty veterans are finding it difficult to outscore these sprightly newbies, leaving the industry leaders biting their fingernails.
Eco-Geek is the New Chic
One way to overcome this talent drought? A dash of green. Well, not literally, but embracing sustainable business practices is now considered sexy in the world of concrete and bricks. So, it’s out with the old and in with the eco.
Techno-babble or Game Changer?
As the cherry on top, don’t forget the faith brokerage leaders are putting on technology. Is it the knight in shining armor they need or their next Waterloo? Time will tell.
To conclude, from the pressure to recruit young, tech-savvy agents, to the shift towards sustainability and the reliance on technology, the future of real estate seems more like the plot of a prime-time drama. Talent acquisition and retention is now ‘the make or break’ factor in this world where prices rise and fall faster than a soufflé. While real estate leaders buckle up for this rollercoaster ride, we’ll have our popcorn ready. After all, who can say no to a good, real-estate-induced adrenaline rush?
Original article: https://www.inman.com/2024/02/26/brokerages-lenders-anticipate-big-recruitment-push-in-2024-triple-i/
