Generation Z is entering adulthood and bringing their dreams and ambitions into the workforce! But Gen Z is looking for something a little different than the mindless 9-to-5 that they’ve seen previous generations take. They want a fulfilling career that lets them make a difference in other people’s lives, allows them to exercise some creativity, and makes room for their personal life as well.
And few career paths tick all these boxes like real estate. Real estate agents make a real difference in communities by helping locals buy a home to secure their financial future and by helping locals sell homes so they can move on to their next chapters. Plus, real estate gives you the flexibility and control to shape your own lifestyle!
Reasons for Gen Z to Consider a Career in Real Estate
Here are five compelling reasons to become a real estate agent:
Unlimited income potential. As a real estate agent, you’re paid on commission, which means your income is directly tied to your performance. And, with the energy, passion, and boldness of youth, you have an earnings advantage.
Flexibility. Do you want to choose your hours? Decide how much you work and when? Real estate allows you to.
Autonomy. Real estate agents are essentially business owners. You get to decide how you’re going to run your business (within legal boundaries and any rules from your broker).
No college degree required. You’ve seen the Millennials drown in student loan debt. That’s one of the big reasons undergrad college enrollment dropped by 8% from 2019 to 2022. Real estate lets you skip the excessive debt and get right to earning.
Time is on your side. As a young adult, you have decades ahead of you in which to build an impressive business.
But what does it take to be successful as a new agent? Particularly as a new, young agent? Don’t worry, we’ve got 10 tips to give you a head-start in real estate.
Top 10 Tips for Gen Z Real Estate Agents
Let’s count them down from #10 to #1!
Tip #10: Fast-Track Your Real Estate Licensing
You don’t need to spend four years working on a degree in real estate. In fact, with a self-paced online real estate course, motivated students can get licensed in as little as eight weeks.
Tip #9: Make a Business Plan
A business plan is simply a document that outlines how you’re going to run your business. Writing a business plan gives you a chance to think through your mission statement, marketing strategy, day-to-day operations, and business financials. Speaking of financials…
Tip #8: Figure Out Your Finances
Financing your real estate career means figuring out how to pay for your licensing, how to cover your business expenses, and how to stay ahead of living expenses while your business gets up and running. Need some specific tips? Check out our article, How to Finance Your Real Estate Career.
Tip #7: Promote Your Track Record As You Go
Your first deals are the hardest to close. This is because you’re still learning the ropes, of course. But it’s also because you don’t have a proven track record to convince buyers and sellers to work with you yet. So it’s important to collect testimonials from every client you work with as you build your business. And don’t just sit on them; get out there and promote them as part of your personal marketing campaign so that potential clients can see how much other locals enjoyed working with you.
Tip #6: Start Educating Your Peers
One hurdle for Gen Z real estate agents is that many of their peers aren’t ready to buy property yet. And, sadly, many of them are getting the message that homeownership is no longer accessible for future generations. But you can set the record straight and change lives for this up-and-coming market segment. Start teaching other Gen Zers about the benefits of homeownership, and show them how to make it more accessible with creative mortgage financing and house-hacking (renting out space on the property to help cover the mortgage payments).
Tip #5: Give Yourself Instant Credibility
As a new, young agent, you need credibility. Fast! And there are a few ways to get it:
Build a professional-quality website. Would you trust a business without a website? Didn’t think so. Your broker should have a website where you publish an “about me” page, but that’s not the same as having your own website. Invest in your site early so that you maintain control over your branding as your career progresses. You can hire a web designer/developer, or build your own real estate agent website.
Co-list with established agents. Offer to assist a respected agent with one of their listings in exchange for getting credit as a “co-listing agent” (and maybe a share of the commission). This will give you some much-needed experience and help you establish a track record quickly.
Start in property management. Property managers help property owners find renters. This can be a good stepping stone for new licensees as property management positions often pay a base salary/wage plus bonuses for signed leases. You’ll also get experience while making valuable industry connections.
Consider joining the National Association of REALTORS (NAR). Joining NAR allows you to call yourself a REALTOR, which gives you an instant edge over agents who are not REALTORS.
Earn a quick designation. NAR offers special designations like Accredited Buyers Representative (ABR), Certified Residential Specialist (CRS), and Seller Representative Specialist (SRS) to help you stand out as a knowledgeable agent.
Tip #4: Grow Your Sphere
Your “sphere” is your circle of friends, family, and acquaintances. This is where most of your clients will likely come from. These people already know you. And they probably like you and trust you. So it’s much easier to convert these people into clients than it is to convert a random online lead. Make a list of everyone currently in your sphere. And make a concentrated effort to increase your reach by networking and meeting new people in your area.
Tip #3: Stay Top-of-Mind
It’s not enough to build your sphere. You also need the people in your sphere to remember you on the regular so that you are the first agent they think of when they’re ready to buy or sell. Regular newsletters, market reports, blog posts, and educational social media posts can help. But you also need to reach out to people on an individual level. This is why agents systemize contact with the people in their sphere using a critical digital tool called a CRM (Customer Relationship Manager). A CRM keeps track of all your contacts and schedules regular follow-ups with everyone.
Tip #2: Leverage Your Tech Expertise
You’re an online native. You’re the first generation to be fully online since birth. This gives you a key advantage over senior agents who might still find much of the online world confusing. While older agents might spend excessive resources on building their websites, managing their social media marketing, and creating new digital content, you can probably handle these tasks pretty easily.
Tip #1: Find a Mentor
You could probably figure out how to be a successful agent on your own. But it would take a lot of trial and error. And a lot of time. A strong mentor can fast-track your success and help you avoid embarrassing rookie mistakes. Take careful note of the successful agents in your brokerage and ask your broker if they know of someone who might make a good mentor for you. Then start providing value to that agent. Offer to help with some of their admin work or social posts, for example. And start building a mutually-beneficial relationship. You get the benefit of their experience, and they get the benefit of your work ethic. Before long, you’ll be in a position to mentor a new, young agent of your own!
Launch Your Real Estate Career Today!
Does real estate sound like a good fit for you? Then don’t wait another day to get started.
You can enroll in a convenient online real estate course today and get on the path to your new career!