How Young Professionals Are Changing the Industry

Young professionals are driving change in the commercial real estate industry. For years, new technologies—from virtual rent collection to digital document signing—have promised to deliver efficiencies to the market, but adoption has been another story. The industry has an older average age demographic than most other industries. According to NAR, for example, brokers have a median age of 60 years old. These groups tend to be reluctant to adapt new technologies, but as more millennials and gen-Z members enter the industry, technology adoption is becoming inevitable.

“Integration of technology has become very important. Simple things like electronic document signing and hopping on zoom calls, to using drones and CRM systems is becoming standard. Incorporating things like that into the normal business practice has an impact on client trust and their success,” Henry H. Alexander, III, a partner and the director of industrial service at Colliers International, tells GlobeSt.com.