Instant Insights / Diversity

GlobeSt.com's look at diversity in the commercial real estate industry.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Diane K. Danielson

The commercial real estate brokerage industry is at the edge of a demographic precipice. According to NAR research, with a median age of 60 years old, CRE brokers as a group are substantially older than the average funeral home director (median age of 53.1), textile mill worker (51.5) and religious organization employee (51.5), who work at the three oldest industries as recorded by the Bureau of Labor Statistics for 2017. How did this happen?

The following are five factors that have contributed to the aging of the CRE industry:

*A tale of two recessions. Generation X and millennials were both hit at the beginning of their careers with recessions (the early 1990s and 2007). This meant that CRE was not a career option for young or new to the business professionals for years at a time. There was also a hangover effect from these recessions, where young people didn’t see their peers in the industry and, as a result, CRE careers were rarely on their radar screen.

*The dominance of dinosaur companies. An industry- wide resistance to technology and the dominance of companies with over 100 years of history do not fit the cultural expectations of the entrepreneurial, growth- oriented companies that young people want to work for today.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. ELITE Women of Influence 2022 (WOI)Event

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.

Get More Information

GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information

GlobeSt Net Lease Fall 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

Women, Influence & Power in Law Awards (WIPLA) 2022Event

Women, Influence & Power in Law Awards honors women lawyers who have made a remarkable difference in the legal profession.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.