Stacey Sheehan, Principal of Collins Real Estate in Tasmania, has set up strategic partnerships to provide a mentoring program for young agents. The goal: to provide them with similar opportunities working for a small agency, as they would have working for a large corporate.
In my previous life working in property for Lend Lease and AMP, the main attraction for me was the intellectual capital of these organisations; built up over decades, it was also enriched by avast pool of experienced innovators who mentored the next generation of managers. Now running an independent real estate agency, it’s difficult not to form comparisons; and while I love the speed with which a small company can adapt to change in the market, replicating that vast knowledge bank and creative culture to bring out the best in our junior talent became one of the company’s major initiatives this year.
Looking outside the industry became the key to success. It has resulted in a partnership between our agency, the Devonport Chamber of Commerce and The O Group, a state-based group with a training and business advisory charter. Together we set up a pilot ‘mentoring program’ where emerging talent is appointed a mentor from outside the real estate industry. Our twenty-one year old sales marketing manager, Emily, has a mentor who owns a training and development group in Launceston and has previously managed the Hilton in Melbourne and the Mercure in Hobart. They chat about national and state politics, things that affect the Tasmanian economy, and she looks out for networking events across the state that she thinks Emily will be interested in. While there was some hesitation among the team when the idea was first tabled, now that the mentors are in place there is a lot of excitement around the pilot and I think it’s going to be a wonderful point of difference for the agency with both recruitment and staff retention.
The local Rotary Club is also quite strong here, and I would imagine in most states, and we are aiming to nominate at least one junior employee for their next Youth Leadership program. Held offsite over five days, it has an amazing reputation, and while not specific to real estate it will provide our team that extra opportunity to reach their full potential, which will ultimately pay huge dividends for both the participants and the agency. Even for franchised agencies, able to tap into national training and development programs, I would say these locally based programs are still worth looking at, precisely because they aren’t industry-based and have a focus on personal development.
The final prong of our junior talent strategy this year was to harness that legendary Gen Y creativity and involve them in all aspects of the company’s digital and social media. We use a Hobart-based production team – their diverse portfolio includes a winning production for the Gruen Transfer’s ‘The Pitch’ – and they have brought a wealth of knowledge from the world of advertising and public relations into our business. They have just finished our ‘Market Wrap’ video, which is a blend of travel, food and real estate and is hosted by Emily, with market commentary this quarter from twenty-one year old Tara, from our property management division. Both Emily and Tara have taken to the additional responsibility like ducks to water, given their generation’s confidence around digital media, and it was so satisfying to do the September shoot with two of our of youngest team members on equal footing with one of the most experienced sales agents in the industry.
The task we embarked on this year, to create really innovative ways to attract and retain junior talent, will be ongoing. For me, I think there will be flow on benefits, for example with the use of external mentors, that we haven’t even thought of yet and I’m certainly in awe of the very high bar that’s been set by the O Group’s team. Time will tell, but I think that knowledge sharing across industries, and indeed regions, specifically aimed at people just starting their career, will also make for stronger business communities. All too often in regional centres you see young talent shift to metropolitan areas for professional development. While that reflects my own experience, it shouldn’t be the only option for our Gen Y workforce, seeking the freedom to exercise their creativity and entrepreneurial spirit. Let’s hope the property sector can lead the way!
