The SVN Gen Y CRE Report on Attracting Millennial Talent

The Survey Results Are In – Millennial CRE Is Our Future

In the Fall of 2015, Sperry Van Ness International Corp. (SVNIC) surveyed over 325 Millennials (born between 1980 and 1995) in the United States, Canada and South America about careers, specifically asking about commission-based jobs and what they are looking for in future employers. With the oldest members of Generation Y moving into the upper echelons of their respective fields, a discussion about Millennial real estate careers is as timely as ever.

Why You Should Care About Millennials in CRE

The commercial real estate (CRE) industry has been around since small-time businesses first opened their doors; and it will continue to be around as long as there is commerce. Yet, the industry, which was hit hard during the last recession, has an aging employee base. For a full five-year period (2008-2013), commercial real estate was not a lucrative career option for many licensed brokers, and especially not attractive to younger professionals. This means that the CRE industry needs to work harder to attract and cultivate the top talent of tomorrow, or risk an industry brain drain.

The Millennial Commercial Real Estate Career Study conducted by SVNIC (“The SVN® Study”) attempts to answer how an industry led by a majority of white males, many of whom began their careers before the Internet was open to commerce, can attract diverse young men and women. In commercial real estate offices run by Baby Boomers and the Silent Generation, the Millennials (also known as Generation Y) are often operating under a completely different paradigm. It’s not just about the technology, but how their access to the world through that technology has changed expectations of what is desirable in a work environment. Millennials are still as ambitious as any generation that came before, but to capture the attention of the best and the brightest, commercial real estate companies need to make a few changes.

Interested? There’s More…

SVNIC COO Diane Danielson summarized the survey findings in this brand new report. Download the entire Millennial CRE Report E-book here.

[bctt tweet=”The CRE industry needs to work harder to attract top talent or risk an industry brain drain.”]

Generation Y Real Estate Survey: Planning For the Future of CRE

Have you ever considered a career in commercial real estate?

real estate survey

Often associated with residential real estate, commercial real estate (CRE) is actually quite different. A CRE broker sells and leases properties such as office, retail (stores, malls), industrial (warehouse/self-storage), multi-family (apartment buildings/complexes) and other commercially-used real estate. Work takes place during traditional office hours and often the commission earned on a single sale will be greater than that for an average home sale.

CRE brokers work as employees or independent contractors on commission (no salary, commissions are earned on completed sales/leases). In 2013, in the United States, CRE brokers earned on average $91,000/year. This varied by experience, region and type of area (urban v. suburban v. rural). To become a commercial real estate agent/broker you need a license in the United States and most other countries in the world.

[bctt tweet=”What are your thoughts on a commission-based career? Tell @SVNIC in this quick survey! #GenY http://svn.re/1ifwNyS” via=”no”]

Real Estate Survey

real estate survey

Sperry Van Ness International Corp. is a commercial real estate franchisor that wants to make our industry attractive to young people. To that end we ask those who were born in the 80’s and early 90’s to take this short survey (5-10 minutes) about careers in commercial real estate. In appreciation of your time, upon completion you can be entered into a drawing for 20 $25 Amazon gift cards if you provide your email address.

Thank you in advance for completing and please pass along!