Ensure you never miss an issue of the
real estate business bulletin
Gen Y creates more work for principals

Gen Y creates more work for principals

by Elyse Perrau 2 comments

With Generation Y the future of the property management industry, a recruitment general manager has said principals will need to work a lot harder to create an appropriate management style to cater to their higher expectations.  

Real Estate Career Developers (RECD) general manager Daniel Gonsalves said Gen Y is an "interesting bunch", with jobs not only having to be about the money but the social life and flexibility too.

“They are certainly more demanding whichever way you look at it…[and] it does make it harder for principals to keep them happy,” he told Residential Property Manager.

“It puts the onus back on principals to create much more of a team environment; they have to work a lot harder,” he added.

Mr Gonsalves said it is about creating an environment that makes Gen Y want to work for you.

“It is no longer just good enough to have a nice brand or a fancy looking office; you have to create a culture that people are going to want to stay in,” he said.

“The overall thing is management styles need to be much better nowadays to cater for the different demands of Gen Y.”

Also speaking to Residential Property Manager, BDM Coach's Deniz Yusuf said while some expectations are warranted, some, like flexibility around hours are “unrealistic”, especially in a demanding job such as property management.

“I am two minded because on the one hand I go 'they are being unrealistic because there is so much work involved in property management', but if you are going to work around your children and drop off school times etcetera, and you are going to work later, then I have no problem with that,” he said.

“I think if principals are not going to consider it then it could be detrimental because a lot of the ‘old school’ are moving on.”

Gen Y creates more work for principals
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?