NEWPORT BEACH, Calif. – December 5, 2014 – RETS Associates, a leading national real estate recruiting firm, today announced new findings from its inaugural Millennials in Real Estate Survey that shed light on how millennials perform job searches. Results indicate that they lean heavily on “high-touch” personal networking – and not just social media – to find employment opportunities versus traditional “high‑tech” means, such as online job sites (e.g., Monster, Indeed, eFinancial Careers), job boards or submitting an application via an employer’s website.
According to RETS Associates Study, 76 Percent Network through Professional Organizations; 68 Percent Connect with Personal Network or Prospective Employer via Social Media; 61 Percent Referred by Friend
More than 160 diverse millennials (born 1981-1998) who work in the real estate sector across the nation were surveyed on their position, career advancement, qualifications and more. When asked what activities they have performed to better enable their job search, 68 percent connected with their personal network or a prospective employer via social media; another 68 percent engaged a recruiter or recruiting firm; and 61 percent received a referral from a friend.
“Clearly, today’s connected millennials rely less on traditional technology‑oriented job search and more on personal networking,” said Jana Turner, principal at RETS Associates. “Millennials will extend their reach through contacting friends via social media, seeking and receiving referrals from friends, deploying recruiters and their network of contacts, and meeting people through professional organizations.”
To further promote their job search, millennials are joining academic or professional industry organizations for personal networking. Seventy-six (76) percent of respondents indicated that they joined a professional organization to advance their career development. The top organizations that millennials have joined in order of number of respondents are ULI (Urban Land Institute); NAIOP, the Commercial Real Estate Development Association; academic alumni associations; BOMA (Building Owners and Managers Association); and Commercial Real Estate Women (CREW).
According to Turner, millennials have realized that they need to marshal all the networking resources at their disposal to uncover job opportunities. “Today’s job market is extremely competitive, and savvy millennials do not rely on submitting an application or resume to an employer, then waiting for a call,” said Elliott. “They actively engage and solicit help from recruiters, friends and other associates via personal networking to accelerate their finding a job.”
About RETS Associates:
Founded in 2002, RETS Associates is a leading national firm that specializes in the recruitment, staffing and placement of interim, permanent and executive positions for the real estate and financial services industries. RETS Associates’ clients include REITs, developers, investors, pension fund advisors, operating companies and real estate services firms. For more information on RETS Associates, please visit www.retsusa.com.