Among newer REALTORS, more Gen X and Y than Boomers…

I asked our membership staff to run a generational analysis of VAR members according to how long they’d been in the business. Interesting results:

In the business 5 years or fewer:

Pre-Boomer (Born 1946 or earlier) 6% / Boomer (1946-1964) 34% / Gen X (1965-1976) 43% / Gen Y (1976- ) 17%

In the business more than 5 years:

Pre-Boomer (Born 1946 or earlier) 25% / Boomer (1946-1964) 56% / Gen X (1965-1976) 17% / Gen Y (1976- ) 2%

In the business more than 10 years:

Pre-Boomer (Born 1946 or earlier) 35% / Boomer (1946-1964) 57% / Gen X (1965-1976) 8% / Gen Y (1976- ) 0%

It’s also notable that a whopping 75% of our approximately 36,000 members have been in the business 10 years or fewer, and thus had never before seen the kind of market conditions we’re now experiencing.

As VAR’s CEO, there are several conclusions I can draw from this data that can help direct how VAR communicates with and engages our members, as well as the kinds of training and support they might expect from us. More about that when I have a random minute to think out loud….

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3 Responses to Among newer REALTORS, more Gen X and Y than Boomers…

  1. Brian Block says:

    Scott,
    Thanks for sharing this interesting statistics for Virginia REALTORS. My guess is that the numbers are pretty similar throughout other state associations.

    Question: could you post up the data to show some additional information regarding each generation and how long the members have been in the business:

    Example: GEN X — 5 years or less: 60%; >5 years: 35%; >10 years 5%

    Thanks.

  2. Bryan Penman says:

    not fair… 10 years ago i was in middle school and unable to hold a real estate license….

    we want to hear from our vetran’s what works… we don’t want to be in this for the boom, we want to survive the bust…

  3. Bryan,

    I think there needs to be a balance of what the Veterans are saying and what the current generation agents are going to be doing.

    Many of the techniques used in the past aren’t as effective as they once were because of the consumer’s changing demographic.

    The best thing I’ve every learned from those who have more experience than me is that Real Estate is relational and we have to be involved with people. We can’t dismiss history and experience or progress and changes.

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