An industry trainer has called for all property managers to bridge the generational gap in order to bring the industry forward.
Harcourts International head of academy Irene Green said that while Baby Boomers have dominated the industry for over 20 years, now is the Millennials' time.
According to Ms Green, the Millennials’ courageous leadership skills and online social connectivity will take the property management sector to new heights.
“This new generation of clients are four-dimensional – they need an agency that can help them sell, rent, invest or buy their next property,” she told the Annual Leadership of Principals and Property Professionals Summit (ALPPPS).
Ms Green said Millennials are therefore looking for agents they can get to know and like, and can trust with all property transactions, and that Millennial team members possess the right skills and mindset to deliver this service.
Millennials’ first market research destination is online channels, according to Ms Green, so it is vital that property management agencies establish a strong digital presence in order to remain visible and relevant to the market.
“If you are not online and active in social media then you are dead to the Millennial client,” she said.
Ms Green suggested that property management agencies create infographics to deliver information, use videos to show properties, create value through Facebook, Twitter and Instagram and communicate a clear brand personality in order to attract this new generation of clients and staff.
“Our industry has changed – our new clients want something different and we must be ready to meet their needs by moving forward with our service, skills and technology,” she said.
[Related: Are Millenials really just job hoppers?]