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, itโs 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 companyโs 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 โmentoring programโ 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 itโs 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 arenโt 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 companyโs digital and social media. We use a Hobart-based production team โ their diverse portfolio includes a winning production for the Gruen Transferโs โThe Pitchโ โ and they have brought a wealth of knowledge from the world of advertising and public relations into our business. They have just finished our โMarket Wrapโ 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 generationโs 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 havenโt even thought of yet and Iโm certainly in awe of the very high bar thatโs been set by the O Groupโs 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 shouldnโt be the only option for our Gen Y workforce, seeking the freedom to exercise their creativity and entrepreneurial spirit. Letโs hope the property sector can lead the way!
Stacey Sheehan is the Principal of Collins Real Estate in Tasmania. She started working in property in 1990 after graduating from ANU and completing a postgraduate scholarship at Showa University, Tokyo. She has a graduate diploma in Urban Estate Management from UTS in Sydney, and is an executive member of the Devonport Chamber of Commerce and Industry.ย