Learning, a characteristic of all generations, still rings true for Millennials, while money remains a big motivating factor.

“I grew up in a business environment and appreciate how dynamic of an industry it is. I get the opportunity to learn about various different sectors of business in a short timeframe,” wrote Dino Alevizos, B. Comm. (Hons.), Shindico Realty/CORFAC International in Winnipeg MB.

But money is certainly one of the biggest motivators, says wrote Josh West, Voit Real Estate Services/CORFAC International in San Diego, CA. “This business allows me to create my own platform and to control my destiny.”

On training, compensation and getting by financially the first couple of years, Sean Durkin, CCIM who as a rookie joined up with Brian Bruininks, CCIM at Andover Companies/CORFAC International in Seattle WA, says that “everyone worked with a senior trainer/mentor early on or signed up as a team-member and sometimes called 'runner' with an accomplished broker that would benefit by being in a team. Many took formal training classes but for the most part they shadowed senior people for a year and worked alongside them, doing everything from listing proposals to writing lease documents.”

Most of the survey respondents received a modest stipend the first year and some got help from family, such as Charles Ratcliff with Joel and Granot Real Estate/CORFAC International in Atlanta. For Aaron Smith, and at 34, the oldest of the respondents had spousal support; “my wife worked full time” wrote the L. Mason Capitani/CORFAC International broker from Detroit MI.

Tyler Rollema with the Klabin Co./CORFAC International in Los Angeles, CA reported that he “had some money saved and lived frugally with no student debt or large bills to pay, lived at home. And, in addition to a monthly stipend from the company, he “brought leads/business to a senior partner that I became involved in enough deals to provide a moderate amount of income during my first year as a runner. That relationship with my senior partner and those leads/business carried me into second and third years and allowed me to double my income each year.”

For Clint Manning with Bradford Cos./CORFAC International in Dallas, “I was fortunate to have been a part of our project leasing team and assigned to 300,000 square feet of listings early on.”

Check back soon for last installment of this story, which addresses more about Millennials in the brokerage business.

Part 2 of 3

The recent CORFAC International 2016 Millennials survey looked into what motivates young brokerage professionals (beyond money), if their career choices were influenced by family, the kind of training they received, and more. In part two of this analysis of the results, we look closer some of those factors, including details about training and compensation.

“I am motivated by success. I set myself targets and goals and am motivated to reach these and beat them. I enjoy the thrill of a deal and as such am motivated to achieve as many as I am able,” wrote Jack Williamson BSc (Hons) MRICS, Farebrother/CORFAC International in London UK.

Being engaged and providing excellent service is a motivating factor. “Helping a company make smart and informed real estate decisions, therefore directly impacting their business in a positive manner. And money…,” wrote Kent McCoy, Centric Commercial/CORFAC International in Austin TX.

Learning, a characteristic of all generations, still rings true for Millennials, while money remains a big motivating factor.

“I grew up in a business environment and appreciate how dynamic of an industry it is. I get the opportunity to learn about various different sectors of business in a short timeframe,” wrote Dino Alevizos, B. Comm. (Hons.), Shindico Realty/CORFAC International in Winnipeg MB.

But money is certainly one of the biggest motivators, says wrote Josh West, Voit Real Estate Services/CORFAC International in San Diego, CA. “This business allows me to create my own platform and to control my destiny.”

On training, compensation and getting by financially the first couple of years, Sean Durkin, CCIM who as a rookie joined up with Brian Bruininks, CCIM at Andover Companies/CORFAC International in Seattle WA, says that “everyone worked with a senior trainer/mentor early on or signed up as a team-member and sometimes called 'runner' with an accomplished broker that would benefit by being in a team. Many took formal training classes but for the most part they shadowed senior people for a year and worked alongside them, doing everything from listing proposals to writing lease documents.”

Most of the survey respondents received a modest stipend the first year and some got help from family, such as Charles Ratcliff with Joel and Granot Real Estate/CORFAC International in Atlanta. For Aaron Smith, and at 34, the oldest of the respondents had spousal support; “my wife worked full time” wrote the L. Mason Capitani/CORFAC International broker from Detroit MI.

Tyler Rollema with the Klabin Co./CORFAC International in Los Angeles, CA reported that he “had some money saved and lived frugally with no student debt or large bills to pay, lived at home. And, in addition to a monthly stipend from the company, he “brought leads/business to a senior partner that I became involved in enough deals to provide a moderate amount of income during my first year as a runner. That relationship with my senior partner and those leads/business carried me into second and third years and allowed me to double my income each year.”

For Clint Manning with Bradford Cos./CORFAC International in Dallas, “I was fortunate to have been a part of our project leasing team and assigned to 300,000 square feet of listings early on.”

Check back soon for last installment of this story, which addresses more about Millennials in the brokerage business.