Millenials and the CRE industry

  • On August 3, 2018

As the ‘90’s kids emerge as turn-of-the-century adults, here are the trends you need to know about your  next potential partner.

Tech-Savvy: It should come as no shock that the youngsters who grew up with ever developing technology have a knack for catching on to new softwares and systems fast. As all market sectors are becoming increasingly dependent on technology, the bankers, buyers and brokers will greatly benefit from millenials adaptivity.

Networked and Ready: One technology that Millennials are particularly fond of (some say too much so) is social networking. Between their phones, laptops, notebooks and iPads, they’re pretty much always connected. Within a couple of clicks, they could be in network with the contact you’ve been looking for. However, what they have in quantity, they may lack in quality. A solid partnership of trust and experience takes time to procure.

On Point: Millenials like things quick and simple. Why have a long meeting when you can send an email, and achieve the same results? Their uptick in productivity may lead them to sacrifice the details. Make sure your young partner is as careful as they are quick.

Debt Shy: Having come of age during the Great Recession, and often with a burgeoning college tuition to pay off, the newer additions to the working class think long and hard before putting their finances at risk. Time will tell how this will impact the current market.

 

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