Report: More millennials are becoming real estate agents

Sep 15, 2016, 5:32 AM
(AP Photo)...
(AP Photo)
(AP Photo)

While many millennials around the Phoenix-area are buying homes, some are deciding to go one step further and becoming real estate agents.

According to a report from the National Association of Realtors, five percent of agents nationwide are under the age of 30. That number is up from two percent across the country last year. It might not seem like a big jump, but one Phoenix-area real estate agent said he is seeing more and more younger agents in the Phoenix market. Still, the job can be tough.

“Often times real estate is seen as something that is very easy and simple to do, and in fact it’s something that takes a lot of hard work [and] advertising,” said Patrick Lewis, a 15-year realtor and treasurer of the Arizona Association of Realtors.

Lewis said that is one reason the turnover rate is high, and many decide not to renew their real estate license. For many, there is no instant paycheck, but he said for those coming out of college — especially millennials with student loans –, they can look for a job with a real estate team that has salaried positions.

“Those types of opportunities, or ones where leads are provided to you, are sometimes a little bit more advantageous to younger people coming into the business, especially if they have student loans,” Lewis said.

He said it can be a great job for those who want to use a lot of different skill sets in one day. He said a new agent can do everything from marketing, public relations and counseling as a real estate agent. Lewis said veteran real estate agents should not be worried about the younger generation coming in and taking their jobs. Instead, for those looking to transition out of the industry, Lewis suggests veteran agents mentor and partner with younger agents.

“Most veteran agents will start to take advantage of some of that because it gives them a way to refer that business while they can start to pull back from the business,” Lewis said.

Lewis said we will continue to see millennials enter real estate, but the question is whether or not the younger agents will stay in the industry long-term.

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Facebook File Photo/Phoenix Police Department)...

Phoenix police seek information on death of man found shot on bridge near I-10

Police are investigating the death of a man who was found shot to death on a bridge that goes over the I-10 freeway in Phoenix. 
1 day ago
FILE - Arizona state Sen. Wendy Rogers, R-Flagstaff (AP Photo/Ross D. Franklin, File)...
Associated Press

Probe of Arizona senator’s comments on Buffalo shooting concludes

The attorney for the Arizona Senate's ethics committee submitted a report Friday on his investigation of a Republican lawmaker's online comments that appeared to blame the federal government for a supermarket massacre in Buffalo, New York.
1 day ago
(Photo by/KTAR News' Taylor Kinnerup)...

About 100 people tried to get into Arizona Senate, tear gas used at protest after abortion ruling

Upwards of 100 people tried to get into the Arizona Senate building and tear gas had to be used at a protest in downtown Phoenix Friday night following the Supreme Court’s decision to overturn the constitutional right to abortions, authorities said.
1 day ago
(AP Photo/Bob Christie, File)...

Arizona state Sen. Nancy Barto provides updates to state abortion law

Arizona state Sen. Nancy Barto provided clarity on Arizona abortion law following the US Supreme Court decision to overturn Roe v. Wade.
1 day ago
(Pixabay photo)...

1 child dead, brother in critical condition in Glendale drowning incident

One child is dead and another is in critical condition after a drowning incident in Glendale on Friday night.
1 day ago
(Facebook photo/City of Mesa Police Department)...

Mesa police shooting results in non-life threatening injuries to suspect

Two Mesa police officers were involved in a shooting Friday night at 8100 E University but did not suffer any injuries, according to authorities.
1 day ago

Sponsored Articles

(Courtesy Condor)...
Condor Airlines

Condor Airlines shows passion for destinations from Sky Harbor with new-look aircraft

Condor Airlines brings passion to each flight and connects people to their dream destinations throughout the world.
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Vaccines are safe if you are pregnant or breastfeeding

Are you pregnant? Do you have a friend or loved one who’s expecting?
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
Report: More millennials are becoming real estate agents