Millennial Money Makers
Issue 49 - September 10th, 2021
The typical REALTOR® is a 54-year-old white female who attended college and is a homeowner.
65% of all REALTORS® are female, and the median age of all REALTORS® is 52.
I share these stats to highlight the fact that the average age of the typical real estate agent in our country is a baby boomer. The opportunity for recent college graduates to get into the residential real estate game has never been better.
Every single person on planet earth needs a place to call home whether they lease or purchase, and as a young person you will become your network’s go to real estate agent if you start early. People love to work with agents in their similar “life stage”, and the opportunity to capitalize on this career path is incredible.
Most people do not think of being a real estate agent as a “career path” right out of college or even right out of high school, but the millennial generation and Gen Z needs agents to fill a massive gap in the market.
Gen Z is the first generation to have grown up with access to the Internet and portable digital technology from a young age, and they will expect massively different home leasing and purchasing experiences than typically are the “norm” today. Social media marketing and video content is the top way to get in front of this group, and more and more new technologies will arise that a young agent can capitalize on to capture the next generation of home buyers.
The skills learned being a real estate agent also apply to other careers down the road, and being an agent is like being a CEO of a small business - you are responsible for everything from marketing to paperwork to dealing with people and everything in between.
I write this today to hopefully inspire some younger people to consider being a real estate agent as an early career path. I got my license when I was 19 years old, and I learned more about general business skills faster than any other path I could have ever dreamed of in my life.
Even with all of the change happening in the industry, real estate agents will be around far longer than people anticipate. Getting in the game at a young age is a great path and will open a lot more doors in the future if you want to grow into other areas in the industry.
If you have any questions or want to bounce ideas off me, then always feel free to reach out to me at sam@archetape.com or follow me on Twitter to keep up with ideas shared there as well. Enjoy the weekend!
Newsworthy Links To Share
Opendoor acquires 2 home renovation startups. The iBuying giant will keep the teams and technology from Skylight and Pro.com, but will discontinue the brands themselves. (Inman)
Cascade, Bill Gates’ investment firm, agreed to buy a 23.75% stake in luxury hotel and resort company Four Seasons for $2.2B from Saudi Arabian billionaire Prince Alwaleed bin Talal; it will now own 71.25% of the hotel chain (Geekwire)
Jetty, a New York City-based rent flexibility-focused fintech, raised $23 million. They also announced the launch of Jetty Rent, a new product that removes the cost burden of expensive late fees by giving renters the flexibility to choose when they pay their rent. (Yahoo! Finance)
U.S. iBuyers are closer than ever to profitability. Offerpad just posted a profitable quarter, and if stock-based compensation is excluded, so did Opendoor. But the overwhelming majority of profits are coming from record home price appreciation, which is temporary, and appears to be falling. (Mike DelPrete Blog)
A home wrapped in aluminum foil survived the Caldor Fire while everything else around it burned to the ground. (SF Chronicle)