by Melanie Robitaille, Sr. Staff Writer & Graphic Designer
One of the greatest assets the next generation has is an intrinsic want to make their mark and to matter. A real estate career, especially at EXIT, is a good choice for these entrepreneurial-minded individuals. However, where some may perceive real estate as a simple, get rich quick job, Mike McCarron knows all too well that it’s a career that takes time; time to foster relationships, trust, and to gain experience.
“The young generation just wants to be a part of something. I see it in my 18-year-old granddaughter, but school doesn’t teach virtues like patience and the other important life lessons like finding fulfillment, self-confidence, and having a skill set. These qualities take time to learn through life experience,” explained EXIT Realty’s Canadian Supervisor for Growth and Development.
This year brought about a dramatic shift toward online and digital business, and an almost instant need for technology savvy, and as a result many industry boomers were left with their heads spinning as they hurriedly adjusted their operations. There seems to be this increasing sense that you’re either new school or old school when it comes to business, when the truth is, you’re actually better off with a harmonious marriage of both.
Mike’s advice? Mentor up. Create a two-way alliance of skills between multi-generational real estate professionals who aren’t just like-minded, but like-valued in their intentions to not just increase their influence but multiply it. He recommends starting by asking yourself one question when selecting such a potential role model, “Who do you see living a life of significance, with intention, who can become a valuable mentor?”
According to Mentoring Matters: Three Essential Elements of Success on Forbes.com, “Studies show that good mentoring can lead to greater career success, including promotions, raises, and increased opportunities,” and although this is a process that takes time to evolve, 71% of Fortune 500® companies found it so beneficial that they invest in mentoring programs for their employees.
EXIT Realty has long understood the benefits of mentoring, and has built upon this core pillar through the many people who truly bleed teal and who inspire, coach and educate. However, as the forbes.com article conveys, a Grey Movement marches on as the baby boomer generation and their people skills begin to vanish from business.
Many industries are losing these mentors as the retirement exodus unfolds. Just look at the National Association of REALTORS® (NAR) statistics for the median age of an agent, which was 55 in 2019, down from 57 in 2015, or the percentage of agents under 30 doubling since 2015, and NAR’s Economist Outlook blog reporting that the number of REALTORS® 65 and older dropped from 25% in 2015 to 17% in 2017.
No matter whether you see it as hitching your wagon to a star, great minds thinking alike, or two heads being better than one, there truly is power and greater perspective in working together. Mentoring fulfills the soul, holds you accountable, and mentors almost always learn as much if not more than they impart. And although technology has changed the way we communicate in business, the role of a well-equipped and knowledgeable real estate professional has not.
The real key is effectively, and genuinely connecting with clients, in the primary way they choose to communicate. Part two of this series will dive into various strategies that can help build conversational confidence, and lasting client relationships.