Real Estate Industry Strives to Attract Young Talent via Competitions, University Partnerships
Jobs in property and building management are poised to grow by 8.0 percent by 2024, according to the most recent data from the Bureau of Labor Statistics.
May 3, 2017 | by Diana Bell | National Real Estate Investor
A career in commercial real estate offers the freedom and flexibility that may be appealing to the latest generation of workers, but the industry has more work to do in attracting young talent, sources say. This is becoming more crucial as the average age of industry professionals is getting older.
The average age of property managers today is 50+, according to data from the Institute of Real Estate Management (IREM), and for all of real estate professions, the average age is 40-41. That could be changing.
“Incoming people are definitely younger, but it takes time to bring the averages down,” says Nancy J. Kirk, IREM’s chief strategy officer for education, outreach and advocacy. Kirk notes that many facets of real estate jobs appeal to the Millennial generation, who comprise the next swell of employees. “It’s not a sit-in-the-office type job. There’s lots of opportunity to work in or out of the office, or remotely. And Millennials like to be making a difference.”
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.