Although tech adoption has increased in recent years, the commercial real estate industry is still pretty old school. But that won’t be the case forever, and from the industry age gap to changing preferences in the workplace and market, Millennials, and Generation Z are already making waves throughout the industry.
Many segments of the CRE world are in need of young talent. The latest National Association of Realtors Commercial Member Profile said the median age of a commercial realtor was 60 years old. That dynamic is pushing companies across the industry to hire younger workers, and when it comes to work/life balance and commercial space needs, America’s younger generations have different expectations than their predecessors.
From a growing demand for remote work to market changes impacting future space needs, Millennials and Generation Z are forcing the industry to evolve.