As Millennials are slated to assume the greatest share of the housing market during the next few years, who will be on the other side of the table to serve them? That’s the question Brena Swanson, a reporter for HousingWire, poses in her story, 3 Tips to Recruiting Millennial Loan Officers.
According to mortgage recruitment firms, the average age of a loan officer is 54, which could turn into a succession planning issue in the next five to 10 years. Additionally, this questions whether or not the age difference will become a barrier between mortgage professionals and Millennials
“The world is changing, and the best way to get good ideas is to get new minds,” Chuck Cowan, president of recruiting firm CCowan & Associates, said in an MPAMAG.com article. “There are young people in the business, but that number isn’t where it should be.”
Cowan goes on to say Millennials’ ample knowledge of technology makes for a more-informed consumer group and for a more flexible workforce. “Young people know technology and they are adaptable because of it,” he added. “You must be able to reflect your customer.”
Swanson’s HousingWire article details what the industry can do to attract millennial loan officers, which begins with a different conversation. “Income is the last piece. Give them the option to take ownership of their career,” Casey Cunningham, CEO at XINNIX, told HousingWire.
At Castle & Cooke Mortgage, we believe our employees are our greatest asset, which makes us unique and paves the way for a long and successful career when loan officers join our team. If you’re looking to take your career to the next level, click here to find out more about our loan officer opportunities.