Younger generation of realtors on the rise
The local real estate market is booming with average sale prices reaching record highs and inventory hitting historic lows
ROSCOE, Ill. (WIFR) - After a record-breaking month of home sales, Rockford’s real estate market is growing in more ways than one.
“We’re certainly seeing a change in the face of our membership,” Rockford Area Realtors CEO Conor Brown says.
523 homes were sold in August, the highest number in more than a year. This recent surge is driving a new wave of realtors into the industry. While experts say the average age of an agent is 52-years old, that’s not stopping younger people from finding success in the market.
The real estate industry has also seen a rise in the number of young homebuyers. Now there’s a rise in young realtors. Ross Garnhart is a real estate agent with Berkshire Hathaway. He sold his first home at 19 years old.
“I’ve had a lot of people telling me you know you’re too young, you don’t have enough experience,” Garnhart says. “I was nervous but when I got my first few deals and I just kind of realized okay I can do this.”
Part of the reason Nick Koutsopanagos got into the business is that his dad is also a realtor. He thinks advancements in technology sparked this new face in real estate.
“From a very young age, I felt really comfortable going into new people’s homes and I just thought it was interesting seeing the different types of homes different types of styles that everybody lived in,” Koutsopanagos says. “It’s predominantly been dominated by older realtors, but I think with technology and just a younger market of buyers, it’s starting to stabilize and it’s really given an opportunity to younger people.”
Combined with escalating home prices and higher demand, Brown says the future of real estate is headed in the right direction.
“It’s very very positive, just like we’ve seen in our overall price growth, people are seeing this as an opportunity to step in really help their clients and make some money along the way,” Brown says.
Another reason for a rise in younger realtors is their ability to use social media and smartphone apps to establish connections.
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